HOUSING LOAN

- Shelter acquisition (one of the basic needs)

Real Mortgage Loan – a term loan with fixed monthly payments (principal + interest) and interest at determined interest repricing intervals or period over the
term loan
Diminishing Balance – the longer you pay, the portion that is left of the principal gets smaller as the term passes

Types of Loan:
HOUSING LOAN PROPERTY EQUITY LOAN
A term loan secured by a 1st mortgage on a real estate (residential) property A term loan secured by 1st mortgage on the real estate property that is
of the borrower already owned by the borrower

Features of the Loan

Minimum Loan Amount 400k
Maximum Term Regular
- 10 years for condo and lot
- 20 years for house and lot, townhouse
Tie-up
- 20 years for any property type
- No appraisal required, we use value from developer
Home Improvement
- 10 years
OFW
- 10 years
Interest Rate Fixed at a determined period and subject to yearly repricing thereafter. Rates
are indicative only; final interest rate will be identified upon drawdown date
(subject to change when you get to avail the loan

Low Appraisal of properties – for reasons that it will be easier to dispose of the property upon offering of the same in the market
Regular Account – property to acquire is sold by individual sellers or unaccredited developers
Tie-up account – property to acquire is sold and/or developed by accredited developers. Loanable amount is based on the total contract price

CLIENT ELIGIBILITY
FILIPINO CITIZEN Employed
1. 21-70 years old (not more than 70 years old upon loan maturity) - Regular Status of Employment
2. At least 40k gross monthly income Self-Employed
- At least 2 years of profitable operation as per ITR and AFS

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 OFW
- Employment with continuous contract
- Yearly visits to PH
Dual Citizen
- Oath of Allegiance (RA 9225)
- Yearly visits to PH
FOREIGNERS – condos ONLY
1. Immigrant visa (Permanent Visa of the PH)
2. Special Resident Retirement Visa
*XPN: If married to a Filipino Resident and Married to an immigrant and
permanent PH resident under RA 7919
REQUIREMENTS FOR THE COLLATERAL
REGULAR TIE-UP
- Copy of signed and notarized DOAS or CTS - Copy of signed CTS – 1 each for the unit, drying area, and parking lot
- Clear copies of Owner’s duplicate copy of the TCT/CCT (all pages) - Copy of RA
- Tax Declaration for land and improvement - Copy of Endorsement Letter with official computation sheet
- Lot plan and vicinity map (if applicable - Copy of Official SOA with complete details
CONSTRUCTION/HOME IMPROVEMENT REFINANCING (LOAN TAKE-OUT)
- Copy of complete set of building plan - Copy of latest SOA with outstanding balance from existing creditor
- Scope of work bank
- Bill of Materials - Copy of Proof of Payment for the last 6 months
ACQUISITION DIFFERENT FROM COLLATERAL CONSTRUCTION DIFFERENT FROM COLLATERAL
- Copy of TCT/CCT of property to be acquired - Copy of complete set of building plan
- Copy of signed and notarized DOAS or CTS - Scope of Work
- Bill of Materials
REQUIREMENTS FOR THE BORROWER
BASIC REQUIREMENTS ADDITIONAL REQUIREMENTS
1. Application Form Employed
2. Valid Government IDs - Original COE with salary, position, and tenure (with authorization to
3. Authorization Letter for the bank to conduct CI verify employment)
4. PSA Marriage Certificate or CENOMAR with OR - Copy of latest 3 months payslip
- Copy of latest ITR
Pension
- Copy of Certificate of Pension
- Copy of Bank Statements of pension account (with authorization
letter for Bank Verification if non-BPI)
Practicing Profession

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 - Clinic address and schedule (secretary willing to be interviewed for
verification)
- List of affiliations
- Copy of latest ITR (form 1701)
Commission
- Copy of Employer’s Certification (with authorization to verify
employment)
- Copy of 3 months latest bank statements reflecting commission
income or vouchers (with authorization letter for bank verification if
non-BPI)
- Copy of latest ITR
OFW
- Original consularized English-translated COE w/ salary, position, and
tenure
- Copy of Renewal of Contract
- Original 1 month latest payslip
- Copy of proof of remittance or bank statement of remittance
account
- Copy of proof of yearly visits to PH
- Copy of latest US Federal ITR for US-based borrowers
Self-Employed
- Copy of latest ITR w/ AFS
- Copy of latest 3 months bank statements of active business working
account (with Authorization Letter for bank verification if non-BPI)
- (if not DTI-registered) Copy of Mayor’s Permit
- Copy of DTI Registration or SEC Registration with AOI/Partnership &
By-laws and latest GIS
Rental Business
- Copy of latest ITR w/ AFS
- Copy of latest 3 months bank statements of active business working
account (with Authorization Letter for bank verification if non-BPI)
- (if not DTI-registered) Copy of Mayor’s Permit
- Copy of DTI Registration or SEC Registration with AOI/Partnership &
By-laws and latest GIS
- Copy of TCT or CCT of the property rented out under the borrower’s
name
- Copy of valid notarized Lease Contracts (w/ full addresses of
properties rented out, name of tenants, and rental amounts)

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 Transport Business
- Copy of latest ITR w/ AFS
- Copy of latest 3 months bank statements of active business working
account (with Authorization Letter for bank verification if non-BPI)
- (if not DTI-registered) Copy of Mayor’s Permit
- Copy of DTI Registration or SEC Registration with AOI/Partnership &
By-laws and latest GIS
- Copy of OR/CR of ALL the units
- Copy of valid LTFRB franchise
PROCESS FLOW
1. Application Appraisal – Php 5,000.00; submission of pre-approval requirements (for
regular) (TAT: 5-7 days); submission of CTS/Endorsement Letter from
Developer (for tie-up) (TAT 3-5 days)
2. Prescreening
3. Appraisal (for regular); no appraisal (for tie-up)
4. Credit evaluation Business/Employment Verification; Trade References Checking
5. Discussion and confirmation of loan approval* with client (TAT: 2-3 days)
6. Loan documents generation
7. Loan documents signing, submission of post-approval requirements
& Payment of fees
8. BG issuance Procurement of GFSP coverage (TAT: 5-7 days)
9. Transfer Documents (for regular); LOU from developer (for tie-up) Transfer requirements: Orig TCT/CCT under borrower’s name, latest tax
clearance, CTC of Tax Dec, and photocopy of latest tax receipt (for regular)
(TAT: 2-3 months); when equity portion is done (for tie-up) (TAT: 2-3 weeks)
10. Document checking and request for annotation (for regular); Regular (TAT: 5-7 days); Tie-up (TAT: 3-5 days)
Document Checking (for tie-up)
11. Annotation (for regular); Pre-booking review (for tie-up)
12. Booking

Project Pecan – an application or program that improves the process for Housing Loan branch-referred accounts. The coverage is from receiving and pre-
screening of applications by branches, pre-screening by sales, encoding via ALFES and up to releasing of credit decision.

Benefits:
1. TAT tracking
2. Status Checking
3. Production report

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