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My Family Home Loan

Brief Description

A straightforward housing loan facility that gives low fixed interest rates.

Features

Facility:

  • Term Loan

Purpose:

  • Purchase of:
    • House & Lot
    • Condominium Unit
    • Townhouse
    • Lot Only (for future construction of primary home)
    • Lot with house construction
  • House Construction
  • Refinancing
  • Refinancing of lot (for future construction of primary home)
  • House Renovation / Home Improvement
  • Personal Investment (purchase of another asset)
  • Personal Consumption (travel, medical expenses, etc.)
  • Working Capital
  • Business Investment / Expansion
  • Others

Loan Amount:

  • Minimum of PhP500,000. but not exceeding PhP25,000,000.

Processing Time:

  • 7 banking days

Term:

  • Up to 20 years

Interest Rate:

  • Prevailing Home Loan rate at time of availment

Interest Rate Fixing:

  • 1, 2, 3, 4 or 5 years fixing term

Repayment Plan:

  • Principal and interest payable in equal monthly amortizations until fully liquidated

Eligibility Criteria

Salaried Individuals, Professionals or Self-Employed who:

  • are between 21 and 65 years old upon loan maturity
  • are earning a minimum gross monthly family income of PhP50,000.
  • are Filipino citizens
  • must have an office and residence landline or mobile number
  • must have the following employment / business status and/or tenure:
    • for salaried individuals - permanent in status and with at least six (6) months tenure with present employer or two (2) combined work experience including the most recent employer
    • for professionals - with more than or equal to three (3) years of practice in profession
    • for self-employed - with more than or equal to three (3) years in business operations

Qualifications apply to both housing loan borrower and spouse/co-borrower

Requirements

  • Duly filled-out and signed application form
  • Payment of appraisal fee
  • Photocopy of two (2) valid IDs each from the principal borrower and co-borrower
  • Photocopy of Marriage Contract (if applicable)
  • Photocopy of TCT / CCT
  • Photocopy of lot plan / vicinity plan / subdivision plan
  • Photocopy of updated Tax Declaration, Real Estate Tax Receipts and Tax Clearance
  • Photocopy of Certificate of Employment
  • Photocopy of latest three (3) months payslip/s
  • Photocopy of latest Income Tax Return / BIR Form 2316
  • Authority to Inspect Form (for condominium)
  • Latest Statement of Account of creditor banks (for refinancing / take-out purpose)
  • For construction loan:
    • Building Plan
    • Bill of materials (estimates of construction and labor costs)
    • Building specification and / or scope of work

Note: An appraisal fee shall be required prior to the processing of loan application and shall only be paid by the loan applicant directly to the Bank. Other than the appraisal fee, no loan processing fee, and/or other fees, are being collected by the Bank, its employees, or any of its representative upon application. A handling fee will be charged to the borrower and will be automatically deducted from the loan proceeds.

  • Duly filled-out and signed application form
  • Payment of appraisal fee
  • Photocopy of two (2) valid IDs each from the principal borrower and co-borrower
  • Photocopy of Marriage Contract (if applicable)
  • Photocopy of TCT / CCT
  • Photocopy of lot plan / vicinity plan / subdivision plan
  • Photocopy of updated Tax Declaration, Real Estate Tax Receipts and Tax Clearance
  • Photocopy of Business Registration papers (i.e. SEC Registration / Articles of Incorporation / By-laws / GIS or DTI certificates)
  • Mayor's Permit / Business Permit
  • Photocopy of latest six (6) months bank statements
  • Photocopy of Audited Financial Statements (for the last 3 years)
  • Photocopy of Income Tax Return for the last three (3) years
  • List of major trade suppliers and customers with contact person and landline numbers (3 of each)
  • Authority to Inspect Form (for condominium)
  • Latest Statement of Account of creditor banks (for refinancing / take-out purpose)
  • For construction loan:
    • Building Plan
    • Bill of materials (estimates of construction and labor costs)
    • Building specification and / or scope of work

Note: An appraisal fee shall be required prior to the processing of loan application and shall only be paid by the loan applicant directly to the Bank. Other than the appraisal fee, no loan processing fee, and/or other fees, are being collected by the Bank, its employees, or any of its representative upon application. A handling fee will be charged to the borrower and will be automatically deducted from the loan proceeds.