Housing Loan

GUIDELINES: 

1. Members in good standing are entitled to avail of this loan.

2. Loanable Amount -  x 5 of the share capital or maximum of P500,000.00

3. Terms of payment:  1 year minimum to 5 years maximum.

4. Interest Rates:

   • 1 year       -     6%
   • 2 years     -     7%
   • 3 years     -     8%
   • 4 years     -     9%

   • 5 years     -     10%

5. Service fee                              - Two (2%) percent pre-deducted

6. Subscription Receivables   - Two (2%) percent pre-deducted

7. Requirements:
   

   • FOR EQUITY PAYMENT:

   • Endorsement letter/computation sheet
   • Contract to sell from developer stating the contract price
   • Proof of billing
   • Latest  one (1) month pay slip

   • Net take home pay – at least Php 2,000.00

   • FOR HOUSE IMPROVEMENT, REPAIR, CONSTRUCTION OR RENOVATION:

   • Approved building plan
   • Bill of materials, specifications & cost estimates
   • Building permit
   • Proof of billing
   • Latest  one (1) month pay slip

   • Net take home pay – at least P2,000.00

   • TO PAY PART OR FULL OF EXISTING HOUSING LOAN FROM ANY PRIVATE OR GOVERNMENT DEVELOPER:

   • Clear copy of owner’s duplicate copy of TCT/CCT
   • Lot Plan/Vicinity map certified by Geodetic Engineer
   • Photocopy of Tax declaration/tax receipts/tax clearance
   • Certification of loan balance
   • Proof of billing
   • Latest  one (1) month pay slip

   • Net take home pay – at least P2,000.00

8. Additional requirements:

   • Financial statements for the past 2 years
   • ITR for the past 2 years
   • Bank Statement ( for the past 3 months )

   • Clinic address and schedules or MSA certification ( if practicing Doctor )

9. Co-maker

   • NO CO-MAKER              =  If the amount of loan is less than P20,000 or equal to share capital.
   • ONE (1) CO-MAKER     =  If the amount of loan is more than P20,000.00 to P150,000.00.

   • TWO (2) CO-MAKERS  =  If the amount of loan is more than P150,000.00.

10. In the absence of one co-maker, the borrower is required to submit a collateral:

    • Land Title               -  property must be located within Metro Manila Area or Region IV only.

    • Car Registration   -  with model of not more than 3 years old.

11. Re-loan period:

    • Any given time (effective July 1, 2011)

    • Option to restructure housing loan after one (1) year.