 |
| Housing
Loan
Products (as of
March 2008) |
|
|
| |
Purpose
|
|
|
| Lot
Acquisition - Purchase of vacant lot |
Home
Acquisition - Purchase of house and lot, townhouse unit or condominium
unit |
| Home
Construction - Construction of house on a currently-owned vacant lot |
| Home
Improvement - Renovation or improvement of an existing property |
| Multi-Purpose
Home Loan - Loan for various purposes such as to pay off other existing
loans, travel, car acquisition and other investment objectives |
|
|
|
| |
Interest Rate and Product Features
|
|
|
| Type
of Housing Loan |
Term |
Minimum
Amount of Loan |
Maximum
Amount of Loan |
| Home
Acquisition |
3-20
years |
P
500,000 |
Contingent
on Appraised Value, Capacity to Pay and Single Borrower's
Limit (SBL) |
| Home
Construction |
3-20
years |
P
500,000 |
same as above |
| Home
Improvement |
3-20
years |
P
500,000 |
same as above |
| Lot
Acquisition |
3-10
years |
P
500,000 |
same as above |
| Multi-Purpose
Home Loan |
3-10
years |
P
500,000 |
P
2,500,000 |
|
|
** Note: For loan terms less than 3 years, interest rate will be higher by 1 percentage than those with terms of 3 years and above.
|
|
|
|
| |
Rate Fixing
|
|
|
| Type
of Housing Loan |
1
year |
2
years |
3
years |
4
years |
5
years |
| Home
Acquisition |
10.00% |
10.50% |
11.00% |
11.50% |
11.75% |
| Home
Construction |
10.00% |
10.50% |
11.00% |
11.50% |
11.75% |
| Home
Improvement |
10.00% |
10.50% |
11.00% |
11.50% |
11.75% |
| Lot
Acquisition |
10.00% |
10.50% |
11.00% |
11.50% |
11.75% |
| Multi-Purpose
Home Loan |
12.00% |
12.50% |
13.00% |
13.50% |
13.75% |
|
|
|
|
|
|
| |
Max Loan to Appraised Value (LTV)
Ratio
|
|
|
| Type
of Housing Loan |
Without
HGC |
With
HGC |
| Home
Acquisition |
80.00% |
90.00% |
| Home
Construction |
80.00% |
90.00% |
| Home
Improvement |
80.00% |
90.00% |
| Lot
Acquisition |
80.00% |
90.00% |
| Multi-Purpose
Home Loan |
50.00% |
50.00% |
|
|
|
|
|
|
| |
Fees
|
|
|
| |
Within
Metro Manila |
Outside
Metro Manila |
| Appraisal
Fee |
P
4,000 |
P
6,000 |
| Application
/ Processing Fee |
P
4,000 |
P
4,000 |
|
|
|
|
|
|
| |
Downloadable Forms
|
|
|
Application Form (Entity) Get
it Here
|
|
|
Application Form (Individual) Get
it Here
|
|
|
|
|
|
|
|
|
|
|
|
