Home   |  About Us   |   Social Responsibility   |  Contact Us      

 Home

 About Us

 Message from the Partners

 Mission and Vision

 The Asia Pacific BPO Group

 The Management Team

 Services

   Salary Loan

   Personal Loan

   Credit Card

   Home Loan

   Capital Raising

 Be a MyloanCenter Operator

 News and Events

 Myloan Institute

 Social Responsibility

 Careers in MyloanCenter

 Contact Us

Home Loan

A loan facility extended to qualified individuals or companies for the purpose of financing acquisition of lot, house and lot, condominium unit or townhouse, construction of house, renovation or expansion of an existing house, refinancing of an existing mortgage, or multi-purpose loan.

• Minimum amount of loan is P500,000

• Granted for the purpose of:

  - acquisition / purchase of residential lot, house and lot, condominium and townhouse

  - construction of residential unit on a lot owned by borrower

  - home improvement

  - refinancing or take out of outstanding housing loans in current status

• Has competitive interest rates which may be fixed for one (1) year or up to a maximum of three (3) years

• Loan shall be payable for a maximum of 15 years in equal monthly amortization to fully cover both principal and interest of the loan

• Loan valuation is 70% of the appraised value of the collateral depending on location and purpose of loan

• Maximum loanable amount shall be the lower of the allowable credit ratio, borrower’s actual need or loan value of the collateral

• The loan shall be secured by a First Real Estate Mortgage in favor of the Bank on the property to be financed

REQUIREMENTS

Information on personal data and income

a. Properly accomplished loan application form with ID of all borrowers / signatories

b. If employed:

  - Income Tax Return or Certificate of Creditable Tax Withheld at Source for at least three (3) years

  - Certificate of Employment and Salary ; pay slip for the past three (3) months

c. If in business:

  - Income Tax Return and Audited Financial Statement for three (3) years

  - In-House Financial Statements for at least three (3) years (if necessary)

  - Certificate of Business Registration (SEC / DTI)

  - Articles of Incorporation / Partnership and By-Laws

  - Business Background / Company Profile

  - List of major suppliers and customers (pls. indicate telephone number and contact person)

d. Additional requirements

  - Marriage Contract (if applicable) - Lease contracts of income generating 

  - Bank Statements / Certification  properties (if any)

  - Titles to properties owned but not offered as  - OR/CR of vehicles owned (if any)

   collateral (if any) - Stock Certificates (if any)

Information on collateral property

  - Photocopy of the title - If loan is for construction / renovation,

- Certified lot plan and location / vicinity map  Bill of materials

     Building plans and specifications

If loan is for refinancing

  - Statement of account from the creditor / mortgagor

 Insurance Requirements

  - Mortgage Redemption Insurance (MRI) which shall guarantee the payment of the outstanding real estate loan in case of death of the principal borrower before the maturity of the loan. This shall be compulsory to all borrowers regardless of age.

- Fire insurance coverage on the improvement equivalent to its appraised value. Premium payments shall be paid annually by the borrower.

________________________________________________________________________

Privacy Policy   |  Terms of Service  

Copyright 2008