HOUSING PROGRAMS Affordable Housing Loan For Minimumwage 30
HOUSING PROGRAMS
Affordable Housing Loan • For Minimum-wage • 30 -Year Maximum Loan Term Earners • Loan up to ₱ 750, 000
2018 LOWEST EVER INTEREST RATES Affordable Housing Loan % 3 per ANNUM Up to ₱ 580, 000 For a 32 sq. m. residential unit in a horizontal housing project Loanable amount Amortization Required GMI** (Regions) Required GMI** (NCR) ₱ 580, 000. 00 ₱ 2, 445. 30* ₱ 12, 000 ₱ 15, 000 STILL THE LOWEST INTEREST RATES EVER! *at 3% interest rate p. a. , 30 -year term. Interest rate will be re-priced after 5 years. **Certificate of Engagement may be submitted as Proof of Income for members under Other Working Groups
Regular Housing Loan • Loan up to ₱ 6 Million • Higher Loan-to-Value Ratio • 30 -Year Maximum Loan Term • Multiple Loan STILL THE LOWEST INTEREST RATES EVER!
2018 LOWEST EVER INTEREST RATES Regular Housing Loan Rates per Re-Pricing Period 1 -Yr* Fixing 5. 375% 3 -Yr Fixing 6. 375% 5 -Yr Fixing 6. 875% 10 -Yr Fixing 7. 500% 15 -Yr Fixing 8. 125% 20 -Yr Fixing 8. 875% 25 -Yr Fixing 9. 500% 30 -Yr Fixing 10. 125% STILL THE LOWEST INTEREST RATES EVER!
LOAN PURPOSE üPurchase* of residential lot or adjoining residential lots (max 1, 000 sq. m. ) üPurchase* of residential house & lot, townhouse or condominium unit (old or brand new, property mortgaged with Pag. IBIG Fund, adjoining houses/units) inclusive of a parking slot üConstruction of house üImprovement of house üRefinancing of an existing housing loan üCombined loan purpose *plus cost of transfer
Housing Loan Benefits 6 EASY STEPS ON HOUSING LOAN AVAILMENT 1 GET Checklist 2 ACCOMPLISH NOA requirements for Release of Loan Proceeds RECEIVE Notice of 6 START paying Loan Application of Requirements 4 SUBMIT Housing 3 5 RECEIVE Loan Proceeds Approval (NOA) and Letter of Guaranty (LOG) your Monthly Housing Loan Amortization
REQUIREMENTS FOR HOUSING LOAN From Borrower 1. Housing Loan Application with recent ID photo of borrower/co-borrower (if applicable) (2 copies, HQP-HLF- 068/069) 2. Proof of Income 3. One (1) valid ID (Photocopy, back-to-back) of Principal Borrower and Spouse, Co-Borrower and Spouse, Seller and Spouse and Developer’s Authorized Representative and Attorney-In-Fact, (if applicable) From Seller (and/or Borrower) 1. Transfer Certificate of Title (TCT) (latest title, Certified True Copy). Condominium Unit, present TCT of the land Condominium Certificate of (CCT) (Certified True Copy). 2. Updated Tax Declaration (House and Lot) and Updated Real Estate Tax Receipt (photocopy) 3. Vicinity Map/Sketch Map leading to the Property subject of the loan For Title 8
REQUIREMENTS FOR HOUSING LOAN By Loan Purpose PURCHASE OF RESIDENTIAL LOT / HOUSE & LOT OR CONDOMINIUM UNIT • Contract-to-Sell or similar agreement between the buyer and seller CONSTRUCTION OF HOUSE / HOME IMPROVEMENT • Building Plans, Specification with Bill of Materials duly signed by the Licensed Civil Engineer or Architect REFINANCING OF AN EXISTING HOUSING LOAN • Latest Statement of Account on Outstanding Loan Balance duly signed by the Manager or the account officer, and any of the following documents: ü Official Receipt for the past 6 months (or any valid proof of payment) ü Subsidiary Ledger 9
PROCESSING AND APPRAISAL FEES Fees to be paid upon filing: Processing fee – Ph. P 1, 000 Appraisal fee – Ph. P 2, 000 (Retail) OR Ph. P 1, 000 (Developer-Assisted) Deducted from loan proceeds: Ph. P 2, 000 Processing fee balance One year Insurance Premium
COMPOSITION & PAYMENT of MONTHLY AMORTIZATION Principal Balance Interest Rate per annum Insurance Premium • Mortgage Redemption Insurance • Fire and Allied Perils Insurance (If applicable) Monthly amortization shall start exactly one (1) month from the DV/ Check Date 1 st Amortization Date Regular Amortization Schedule 29 July 2019 29 August 2019 Every 29 th of the month
Housing Loan Benefits LOAN PAYMENT PARTNERS
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