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.
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