Home Loan

Home Loan

Home Loan Features


Take advantage of the home loan to

  • Buy a residential vacant lot
  • Buy your dream home – house and lot, townhouse, or condominium unit
  • Refinance your existing home loan, or reimburse your construction and housing expenses
  • Build, renovate, or expand your home
  • Invest in new property

You can enjoy

  • Very competitive rates
  • Quick and hassle free processing
  • Allows payment of loan via fixed monthly installment of principal and interest
  • Flexible payment terms of up to 36 months
  • High loan amount of up to 60% of the appraised value of your property for vacant lots and 70% of the appraised value of your property for residential or commercial properties
  • Full release of loan via Check payable to the borrower

Do you qualify?

To qualify, you must meet the following criteria
  • Age: 21 (Employed) / 25 (Self-Employed) to 60 years old (upon loan maturity)
  • Co-Maker: Acceptable co-makers shall be limited to spouse, first-degree relatives (i.e. mother, father, children) and siblings

Requirements

Basic Requirements
  • Loanable Amount: Minimum – P100,000 / Maximum – P3,000,000
  • Term: Minimum – 12 months / Maximum – 36 months
  • Acceptable Collateral: Residential properties (including townhouses, condominium and vacant lots), commercial properties, mix use properties (both commercial and residential). Properties should be located within Metro Manila or major towns/cities near Metro Manila. If outside Metro Manila, property should be within coverage area of MCC.
  • Late Payment Charge: 3% of the total monthly amortization or P300.00 whichever is higher.
  • Pre-payment Penalty: 5% of the outstanding principal or P2,500.00 whichever is higher.
  • Appraisal Fee: P5,000 if located within Metro Manila. If outside Metro Manila, appraisal fee shall be determined depending on the location of the property. Appraisal fee is non-refundable and shall be collected upon loan application.
  • Permanent with tenure of at least two (2) years
  • With minimum monthly net disposable income (single or combined) of at least P50,000
  • Two (2) valid IDs (Company and Gov’t issued ID)
  • Latest Certificate of Employment and one month payslip
  • Latest ITR / Latest Proof of Billing (Residence)
  • Sketch of Residence
  • Profession must be practiced for at least three (3) years
  • With minimum gross monthly net disposable income (single or combined) of at least P50,000
  • Two (2) valid IDs (PRC and Gov’t issued ID)
  • Photocopy of Passbook or Statement of Account for the latest 6 months
  • Latest DTI & Business Permit/Latest 2 years ITR w/FS / Latest Proof of Billing (Residence)
  • Sketch of Residence/Business
  • Business must be in existence for the last three (3) years
  • Profitable operations for the past three (3) years
  • With minimum net monthly income of at least P100,000.00
  • Two (2) valid IDs (PRC and Gov’t issued ID)
  • Photocopy of Passbook or Statement of Account for the latest 6 months
  • Latest DTI & Business Permit/Latest 2 years ITR w/FS / Latest Proof of Billing (Residence)
  • Sketch of Residence/Business

Collateral Documents:

  • Photocopy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) – front and back copy
  • Photocopy of Lot Plan with Vicinity Map
  • Photocopy of latest Tax Declaration
  • Photocopy of latest Real Estate Tax Receipt/s
  • Photocopy of latest Tax Clearance
  • Master Deed of Restriction (for condominium properties)
  • MRI (Mortgage Redemption Insurance)
  • Fire Insurance on the property mortgaged

Express Loan Application