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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 more than or equal to one (1) year tenure with present employer or three (3) years 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 two (2) 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
  • 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