Gone are the days when you had to wait for the PCSO lottery draw to win before you could buy your own property, whether it was a condo or a house and lot. Financial organizations and other entities have made it simpler to obtain a house loan in recent years.<\/p>\n
During open houses, certain condominium developers may have special offers, and your licensed agent may give you some advice on a flexible payment scheme, something that suits your financial profile, and they may provide extended down payment programs to make your monthly payments more affordable.<\/p>\n
Bank loans<\/strong> Documents needed:<\/strong> Basic documents needed include financial statements and Income Tax Return, Certificate of Employment, pay slips, copy of CCT \/ TCT (Condominium Certificate of Transfer \/ Title Certificate of Transfer), valid IDs, lot plan and vicinity map, marriage contract if applicable, proof of remittance for 3 months (for OFWs) and certificate of Business Registration.<\/p>\n Loan amount:<\/strong> Banks may lend up to 80% of the actual property value and a minimum of P400,000. Amount to be loaned is also dependent on the individual\u2019s paying capacity.<\/p>\n Interest rate:<\/strong> For bank loans, interest rates may range from 5.75%, subject to re-pricing after one year, to 12%. But buyers can opt for a fixed interest rate from 1 to 5 years.<\/p>\n Term of Loan:<\/strong> 5 to 20 years.<\/p>\n In-house Financing<\/strong> Documents needed:<\/strong> Certificate of Employment and Compensation, source of income, bank statement or remittance slip, and post dated checks.<\/p>\n Interest rate:<\/strong> 14% to 18%.<\/p>\n SSS Loan<\/strong> Documents needed:<\/strong> Latest ITR (Income Tax Return), certification of employment, latest pay slips, SSS form, Property Tax declaration, and Realty Tax receipt, and OCT\/CCT\/TCT (Original Certificate of Title \/ Condominium Certificate of Transfer\/ Title Certificate of Transfer).<\/p>\n Interest rate:<\/strong> 8% to 11 % per year still depending on the amount borrowed.<\/p>\n Loan amount:<\/strong> P400,000 to P2,000,000.<\/p>\n Loan Term:<\/strong> 5 to 30 years.<\/p>\n Pag-IBIG<\/strong> Documents needed:<\/strong> Birth certificate (if single) or Marriage Contract (if married), latest pay slip, TIN (Tax Identification Number), ITR (Income Tax Return), Residence Tax, proof of billing address, (Original Certificate of Title \/ Condominium Certificate of Transfer\/ Title Certificate of Transfer) job contract with VISA and passport for OFWs, and business permits for business owners.<\/p>\n Interest rate:<\/strong> 8% to 11.5%.<\/p>\n Loan amount:<\/strong> A maximum if 80% of property price.<\/p>\n Loan term:<\/strong> Maximum of 20 years and 15 years for OFWs.<\/p>\n The Philippine Property and Investment Exhibition (PPIE), the biggest, longest-running and most trusted Philippine business and investment forum in the Middle East, is now on its eighth edition, which will be held this November 5-6, 2022 at the Crowne Plaza \u2013 Sheikh Zayed Road. <\/p>\n The past seven PPIE editions made history in the UAE and the Gulf region by bringing in over 24,500 quality visitors.<\/p>\n","protected":false},"excerpt":{"rendered":" Gone are the days when you had to wait for the PCSO lottery draw to win before you could buy your own property, whether it was a condo or a house and lot. Financial organizations and other entities have made it simpler to obtain a house loan in recent years. During open houses, certain condominium […]<\/p>\n","protected":false},"author":1,"featured_media":811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/posts\/810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/comments?post=810"}],"version-history":[{"count":1,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/posts\/810\/revisions"}],"predecessor-version":[{"id":812,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/posts\/810\/revisions\/812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/media\/811"}],"wp:attachment":[{"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/media?parent=810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/categories?post=810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/tags?post=810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nQualifications:<\/strong> You are at least 21 years old but younger than 65 years old. You must be a regular employee of your company for at least 2 years with a monthly gross income of at least P30,000 and if you own a business, it must at least be in operation for 2 years.<\/p>\n
\nQualifications: If you are an interested buyer who can afford the down payment and present required documents.<\/p>\n
\nQualifications:<\/strong> Applicant must be an SSS member or an OFW not older than 60 years old upon application, those who are 60 years at the time of application will have a maximum loan term of 5 years. The member should have contributed for at least 36 months and 24 continuous contributions in the period prior to application. The borrower must also be up-to-date in the payment of their other SSS loans if any and was not previously granted final SSS benefits.<\/p>\n
\nQualifications:<\/strong> Applicant must be a Pag-IBIG member for at least 24 months and have no existing housing loan or any Pag-IBIG foreclosed property loan, the borrower\u2019s monthly amortization must not exceed 35% of their total gross salary and must not be older than 60 years old upon application and 70 years old upon loan maturity.<\/p>\n