BANK FINANCING REQUIREMENTS
Now, applying for a housing loan is easy and simple.
As long as you're working, you're qualified. We are accredited with Metrobank (MBTC) and United Coconut Planters Bank (UCPB). Buyer must decide which Bank to apply during reservation. Buyer is allowed to change financing within 30 days from reservation date. Developer will process your bank loan. Just submit required documents within 60 days.
GENERAL REQUIREMENTS
For UCPB - Additional Requirement for OFW
Both METROBANK & UCPB Requirement for Locally Employed
The income stated in the Income Tax Return will not be basis of loan approval but to comply with Central Bank’s requirement.
CREDIT EVALUATION PROCESS
Client must not have legal cases, bad credit card record that resulted in a legal case or previous bank loan that were not paid.
Eligible Age of Borrower
IMPORTANT REMINDERS for OFW BUYERS
As long as you're working, you're qualified. We are accredited with Metrobank (MBTC) and United Coconut Planters Bank (UCPB). Buyer must decide which Bank to apply during reservation. Buyer is allowed to change financing within 30 days from reservation date. Developer will process your bank loan. Just submit required documents within 60 days.
GENERAL REQUIREMENTS
- Duly filled-out Bank Forms (to be provided during reservation)
- 3 pcs. 1x1 ID picture (for Buyer, Spouse & SPA)
- Photocopy of Marriage Contract (if married)
- Photocopy of two (2) Valid IDs (for Buyer, Spouse & SPA)
- Tax Identification No. (TIN)
- Proof of Billing (if renting, certification from landlord/landlady)
- Consularized Special Power of Attorney (SPA) - Bank Form
For UCPB - Additional Requirement for OFW
- Consularized Special Power of Attorney (SPA) - Bank Form
Both METROBANK & UCPB Requirement for Locally Employed
- Latest Income Tax Return (ITR)
The income stated in the Income Tax Return will not be basis of loan approval but to comply with Central Bank’s requirement.
CREDIT EVALUATION PROCESS
- Subject only to CMAP/NFIS (Negative File Info System) and
- Personal Data/Residence and Neighborhood checking (PDRN)
- Verification of Income is waived.
Client must not have legal cases, bad credit card record that resulted in a legal case or previous bank loan that were not paid.
Eligible Age of Borrower
- Metrobank - 21 yrs old and up
- UCPB - 18 yrs. old and up but not more than 65 yrs old when loan matures (fully paid)
IMPORTANT REMINDERS for OFW BUYERS
- If Immigrant or Dual Citizen, borrower is required to have a co-borrower (regardless of income), who is an immediate family member residing in the Philippines.
- OFW working in war-torn countries shall not be accepted.
- Photocopy of Latest Passport with date of departure and arrival is required.
- METROBANK - Locally Employed: 25 years | OFW - 15 years
- UCPB - Locally Employed: 20 years | OFW - 20 years
- METROBANK: Automatic Debit Arrangement thru Bank account
- UCPB: Postdated Checks (PDC) or Automatic Debit Arrangement Form
- METROBANK: 80% of Total Contract Price
- UCPB: 80% of Total Contract Price. Minimum Amount: Php 500,000
- METROBANK: 10 years @ 10.5% (reference only). Amortization is the same for 10 years
- UCPB: 5 yrs. @ 10.25% (reference only). Amortization is the same for 5 years
INHOUSE FINANCING REQUIREMENTS
If you don't want Bank Financing and want simple processing, then pay through Inhouse Financing:
GENERAL REQUIREMENTS (Locally Employed & OFW)
- No required Income Tax Return. No minimum salary requirement.
- No payslips. No bank account needed. No interviews.
- Immigrant and Dual Citizens can apply for a housing loan without getting a co-borrower here in the Philippines.
- Developer will extend housing loan.
- Client will directly pay to the Developer's office.
- Developer will process the loan. Just submit required documents within 60 days.
GENERAL REQUIREMENTS (Locally Employed & OFW)
- 2 valid ID & TIN No. - (Husband/Wife/SPA)
- 3 pcs. Picture 1x1 - (Husband/Wife/SPA)
- Birth Certificate (Single) or Marrriage Contract
- Certificate of Employment or Job Contract
- Special Power of Attorney (Form to be provided by the Developer. No need to consularize.)
- Required Postdated checks:
- 24 pcs. - Downpayment or as per choosen downpayment term
- 36 pcs. - Monthly Amortization
- 1 pc. - Guarantee Check
- 9 pcs. - Real Property Tax for 10 yrs. amortization term.
- 76 pcs. - Total Checks