Housing Loan

Housing Loan (Jan. 2013)

Product Description:

At AMA Bank, owning your dream home is now a reality. Whether you want to buy a new house, construct or just renovate, we have the perfect package suited to your need. You can also use the home that you purchased as collateral to expand your business by availing yourself of our Multi-Purpose Loan package. At AMA bank, we not only fulfill your dreams but we also ensure the future of you and your family.

What you need to know about AMA Bank Home Loan?

  • Purchase a resident lot, house and lot, condo or townhouse.
  • House construction on your own property.
    Renovate or expand your existing house.
  • Expand your business by availing of our multi-purpose loan and use your home as collateral.
  • Developer Loans for those real estate developers who wish to construct homes/ replenish their capital.

How much can an AMA Home Loan client borrow?

  • The minimum loanable amount is Php 500,000.00.
  • Loan terms for 5 years to 20 years maximum.
  • For multi-purpose loans and the maximum limit is 5 years.
  • For developer loans the maximum limit is 5 years.
  • Enjoy down payment option as low as 10%
  • Enjoy competitive interest rates from 10%-12%

What properties can be assigned as collateral?

  • Vacant Lot
  • House and Lot
  • Commercial Buildings with Lot

Why choose AMA Bank?

  • AMA provides the client the unique opportunity to own their dream home.
  • AMA Bank not ONLY provides you a dream home, but also the opportunity to OWN or expand your business thereby ensuring the future of the family.
  • AMA Bank can assist the real estate developers the chance to enhance their business by giving additional capital to construct new homes.

What are the documentary requirements?

General Requirements:

  • Completely filled up AMA Home Loan Application Form.
  • Photocopy of 2 valid IDs with photo and signature (i.e. passport, driver’s license, company ID, etc.).
  • Bank Statement for the last six (6) months.
  • Copy of TCT/CCT.
  • Updated Tax Declaration and Real Estate tax Receipts.

Additional Requirements:

FOR THOSE EMPLOYED

  • Photocopy of latest Income Tax Return (ITR) or W-2 Form/BIR Form 2316.
  • Latest one (1) month payslip and Certificate of Employment and Compensation (CEC).

FOR BUSINESS OWNERS/SELF-EMPLOYED

  • Business Registration/Permits.
  • SEC Registration/DTI Registration.
  • Articles of Incorporation/Partnership By-Laws.
  • Financial Statement (last 3 years: In-house and Audited Statements).
  • Company Profile or History of Business.
    Income Tax Return (ITR) for the last three (3) years.
  • Bank Statement for the last six (6) months.

OVERSEAS FILIPINO WORKERS (OFW)

  • Contract of Employment & Compensation/Certificate of Employment.
  • History of Employment/Latest Crew Contract (if Applicant is a Seaman).

OTHER SOURCE OF INCOME

If applicable, documents showing proof of rental income, interest income, regular receipt of remittances.

Appraisal Fee

  • Properties within Metro Manila: Php 3,000.00
  • Properties outside Metro Manila: Php 4,000.00

Note: Appraisal prices may change depending on scope of work, distance and If the loan amount is in excee of Php5, 000.000.00

How to apply?

There are two (2) ways to apply for AMA Home Loan:

  • Download the form here, fill up the form and send to: homeloan_amabank@yahoo.com
  • Visit any AMA Bank near you or call: 477-8277 (Head Office)