If you are investing in real estate, we have all your property investment information that will help your dream of owning a home a reality.
After you've decided the property of your choice, your next step is to ask for a sample computation of this project. Most important, we understand that everyone's financing needs are unique. We are committed to providing you with specific schemes and personalized services that best meet your individual needs. As a customer, you will be able to take advantage of a number of schemes and incentives only offered by Profriends Inc. Here are some basic information and guides that can help you decide which payment option is best for you.
After you've decided the property of your choice, your next step is to ask for a sample computation of this project. Most important, we understand that everyone's financing needs are unique. We are committed to providing you with specific schemes and personalized services that best meet your individual needs. As a customer, you will be able to take advantage of a number of schemes and incentives only offered by Profriends Inc. Here are some basic information and guides that can help you decide which payment option is best for you.
BANK FINANCING
(MBTC, starting Nov 10, 2011)
Applied for Lancaster Estates | Carmona Estates |
1.Now, applying for a housing loan is easy and simple.
2.As long as you’re working, you’re qualified. We are accredited with METROBANK AND TRUST COMPANY (MBTC).
3.Developer will process your loan in bank. Just submit required documents within 60 days from Date of Reservation.
Eligibility Requirements
1.Now, applying for a housing loan is easy and simple.
2.As long as you’re working, you’re qualified. We are accredited with METROBANK AND TRUST COMPANY (MBTC).
3.Developer will process your loan in bank. Just submit required documents within 60 days from Date of Reservation.
Eligibility Requirements
•At least 21 years old but not more than 65 years old upon loan maturity.
•Must have no adverse credit findings with CMAP & NFIS
•NO default in monthly DP payments for 3 consecutive months and/or must not have incurred delays in payments of 5 months or more within the 15-month DP Term.
•Locally employed applicants must submit latest ITR/W2.
Note:
The income stated in the Income Tax Return will not be the basis of loan approval. This is just compliance to a Central Bank requirement.
Credit Evaluation Process
•Subject only to CMAP/NFIS (Negative File Info System) and
•Personal Data/Residence and Neighborhood checking (PDRN)
•Verification of Income is waived.
Note:
•Must have no adverse credit findings with CMAP & NFIS
•NO default in monthly DP payments for 3 consecutive months and/or must not have incurred delays in payments of 5 months or more within the 15-month DP Term.
•Locally employed applicants must submit latest ITR/W2.
Note:
The income stated in the Income Tax Return will not be the basis of loan approval. This is just compliance to a Central Bank requirement.
Credit Evaluation Process
•Subject only to CMAP/NFIS (Negative File Info System) and
•Personal Data/Residence and Neighborhood checking (PDRN)
•Verification of Income is waived.
Note:
Client must not have legal cases, bad credit card record that result in a legal case or previous bank loan that were not paid.
Down payment Term (0% Interest)
•15 Months
•4 Months for Ready For Occupancy (RFO) Units
Move-in
•16th to 18th month from date of Reservation
•5th to 7th month from date of Reservation for Ready For Occupancy (RFO) Units
Maximum Loan Term
•20 Years, provided borrower’s age does not exceed 65 at loan maturity.
Mode of Payment
The twelve point five percent (12.5%) DP shall be paid in 15 months (or 4 months for RFO Units) equal monthly installments through post-dated checks (PDCs) payable to Property Company of Friends, Inc. (PCFI)
Loan Value
•87.5% of Total Contract Price
Interest
•Prevailing Bank Rate will apply on the time of loan take-out.
•Fixed for 3 Years; Annual re-pricing thereafter
If Overseas Filipino Worker (OFW) – Metrobank
•One (1) Copy Consularized Special Power of Attorney (SPA) (Bank Form)
Note:
Consularized SPA is a MUST Requirement when transferring Certificate of Title to Client’s name.
This is required by the Register of Deeds.
Credit Evaluation Process
•Subject only to CMAP/NFIS (Negative File Info System) and
•Personal Data/Residence and Neighborhood checking (PDRN)
•Photocopy of Contract or Certificate of Employment with Compensation.
Eligible Age of Borrower - Metrobank
•21 yrs. old and up
•If Overseas Filipino Worker (OFW), must not be more than 60 yrs. old when loan matures (fully paid)
Eligible Occupation For OFW
•If Immigrant or Dual Citizen, borrower is required to have a co-borrower (regardless of income), who is an immediate family member residing in the Philippines.
•Overseas Filipino Worker (OFW) working in war-torn countries shall not be accepted. Copy of Latest Passport with date of departure and arrival.
Maximum Term
MBTC: OFW – 15 yrs.
Mode of Payment
•MBTC: Automatic Debit Arrangement from Bank account
Loan Value
•MBTC: 87.5% of Total Contract Price
Interest Fixing
•Prevailing Bank Rate will apply on the time of loan take-out.
•MBTC: 10 yrs. at 10.5% (reference only). Amortization is the same for 10 yrs.
INHOUSE FINANCING
If you’re looking for the easiest and fastest way of financing your home, then apply with our In-house Financing.
In-house financing generally means taking a loan to buy the house directly from the developer of the subdivision/community. Despite the higher interest rate compared to banks, many they prefer this arrangement with the developer because loan processing is faster and easier.
No background checking of the applicant are required. Our in-house financing do not strictly require submission of proof of income of the buyer. Loan approval is practically as fast as one’s ability to pay the reservation, fill out the forms, and submit the usual documentary requirements.
Eligibility Requirements
1.Client must be 18 years old and above (age eligible for a TIN, SSS, etc.)
2.Anyone as long as age limit is met can apply for In-house financing.
3.Client with on-going civil cases (annulment, child custody, etc.) and those that are estranged to their spouse but wish to declare single marital status on their In-house application is allowed and is welcome to apply.
4.Immigrant and dual citizenship holders can apply for an In-housing loan without getting a co-borrower here in Philippines.
No required Income Tax Return.
No minimum salary requirement.
No pay slips. No bank account needed.
No interviews.
Developer will extend housing loan.
Client will directly pay to the Developer’s office.
Developer will process the loan.
Just submit required documents within 60 days.
Down payment Term (0% Interest)
•24 Months
Move-in
•16th to 18th month from date of Reservation
Maximum Loan Term
•10 Years, provided borrower’s age does not exceed 65 at loan maturity.
Mode of Payment
The thirty percent (30%) DP shall be paid in 24 months equal monthly installments through post-dated checks (PDCs) payable to Property Company of Friends, Inc. (PCFI)
Loan Value
•70% of Total Contract Price
Interest
•21% for 10 years
•18% for 5 years
