In-house Financing Requirements
- 6 pcs. ID picture (it vary from different developer)
- 2 Valid ID & TIN & Cedula
- Birth Certificate / Marriage Contract
- Postdated Check
Bank Financing Requirements – For Pre-selling Unit (Not Yet Ready for Occupancy)
- 6 pcs. ID picture (it vary from different developer)
- Birth Certificate / Marriage Contract
- 2 Valid ID & TIN & Cedula
- Proof of Billing
- NO bad credit record.
- Postdated checks.
- Required Postdated checks:
- Checks for Downpayment or as per chosen downpayment term (6, 12, 18 or 24 months)
- Checks for Monthly Amortization
- Guarantee Check
- Check for Real Property Tax
Bank Financing Requirements – For Ready for Occupancy Houses
- 6 pcs. ID picture (it vary from different developer)
- Birth Certificate / Marriage Contract (Must not separated)
- 2 Valid ID & TIN & Cedula
- Proof of Billing
- Employment Certificate or Contract
- Payslips (at least 3 months)
- Income Tax Return (for locally employed only. OFW are exempted)
- Buyer must be working at the time of loan application.
- Consularized SPA Bank Form (OFW Buyer)
- NO bad credit record. No legal cases.
- Postdated checks.
No checking account?
Developer will give a Bank referral to open a checking account.
Amount needed to open: Php2,000.00 + Php175.00 for check booklet. (Bank of Commerce)
What is In-house Financing?
In-house financing is a direct loan from the Developer’s Office. Buyers will pay at the Developer’s Office. There is no loan application with any Bank. If you avail of In-house financing:
- No required Income Tax Return.
- No minimum salary requirement.
- No payslips.
- No bank account / statement needed.
- Immigrant and Dual Citizens can apply for a housing loan without getting a co-borrower here in Phil.
- Developer will process the loan.
- Just submit required documents within 30 days.
In-house Financing is recommended for Buyers who has:
- Problem with credit record or has defaulted a previous loan.
- Problem with their marital status.
- Just newly employed, therefore can’t get an Income Tax Return yet (for locally employed)
- Problem gathering required documents.
- No time in completing bank requirements.
- Plans to pay bigger amount anytime.
- Income that do not meet the bank’s required amount set by the as per amortization amount.
What is Bank Financing?
Bank Financing is a loan from our accredited banks, Bank of Commerce (BOC), Banco De Oro (BDO) and Bank of the Philippine Island (BPI). The Agent or Developer will apply and process the loanable amount or balance with the bank. Buyers will just submit the required documents.
Buyers have 30 days to change financing from Bank to In-house or from In-house to Bank Financing. No fee or charges from this change.
Bank Financing Promo – For Not Ready Houses or Pre-Selling Units
- No required income
- No Employment Certificate requirement
- No payslip requirement
- No bad credit or previous unpaid loan of any kind.
Now, applying for a housing loan is easy and simple. As long as you’re working, no bad credit, you’re qualified.
- Eligible Age of Borrower
- Buyer must not be over 60 yrs old when loan matures.
Who Can Apply for a Bank Loan?
Only Filipino citizens and immigrant are allowed to apply for a Bank loan. Filipinos who are already US, UK, Australian, Canadian citizens or citizens of other countries will not be qualified to apply for a bank loan.
What is the Maximum Term of Bank Loan
For Bank of Commerce (BOC) – Locally Employed: 21 yrs.. For OFW: 25 yrs
For Banco de Oro (BDO) – Locally Employed: 21 yrs.. For OFW: 15 yrs
For Bank of the Philippine Island (BPI) – Locally Employed: 18 yrs. For OFW: 20 yrs.
Mode of Payment
BOC: Postdated Checks or Automatic Debit Arrangement from Bank account
BDO: Postdated Checks (PDC) or Automatic Debit Arrangement Form
BPI: Postdated Checks (PDC) or Automatic Debit Arrangement Form
How Long is the processing of loan with the Bank?
Two to three months. Delay in submitting required documents will affect the processing of the loan. That’s why, it is highly recommended to submit the documents within 30 days after reserving the unit. This will give Developer’s office ample time to evaluate your documents.
