PNB Housing Loan

Whether you're a first-time home buyer, or looking to invest in additional real estate, you will find PNB Sure Home Loan the ideal solution to your home loan requirements. Sure Home gives you one of the higher loan amounts in the industry coupled with one of the lowest interest rates. Add to that the convenience of flexible terms and you will see why PNB Sure Home Loan is a sure deal for your housing loan needs.

Features:

Purpose

• Purchase of Lot, House & Lot, Condominium unit, Townhouse
• House Construction, Home Improvement
• Refinancing / Take-out of existing loans

Eligible Borrowers

• Filipino citizens
• Natural-born Filipinos who have lost their Filipino citizenship (up to a maximum lot area of 1,000 sq.m. only)
• Borrower must be at least 21 years of age and must not be more than 65 yrs. of age upon loan maturity
• Salaried or self-employed individuals

Term of loan

• For Lot purchase / Home Improvement - up to 10 yrs.
• For purchase of House & Lot, Townhouse, Condominium unit & House Construction - up to 20 yrs.

Collateral

• Real Estate property to be financed

Loanable Amount

Maximum loanable amount shall be the lowest of:

• Actual Need
• Paying capacity (up to 30% of gross monthly income can be used as amortization)
• Up to 80% of the appraised value of the property for house & lot, townhouse & condominium
• Up to 60% of the appraised value of the property for lot

Minimum loanable amount

• P750K for purchase of house & lot, townhouse & condominium - within Metro Manila; P500K - other areas outside Metro Manila
• P500K for purchase of lot within Metro Manila; P200K – other areas outside Metro Manila

Interest Rate

• 5.75% fixed for 1 year
• 6.50% fixed for 2-3 years
• 6.75% fixed for 4-5 years
• 8.50% fixed for 10 years
• 10.25% fixed for 15 years
• 10.75% fixed for 20 years 

Manner of Release

• Lumpsum release for loans to purchase a lot, house and lot, condominium unit, or townhouse
• Staggered release for loans to construct a house or for home improvement:
  • Maximum of five (5) releases
  • Only interest payment is required during the construction period & is deducted from the second to last release
  • Final release upon 100% completion of construction whereby all loan releases are consolidated into one promissory note

Repayment Scheme

• Monthly Principal and Interest which shall be adjusted upward or downward depending on the interest rate to be charged for a particular interest period
• Payments can be made via Automatic Debit Arrangement or Post Dated Checks

Appraisal Fee

Minimum of P3,500 (Non-refundable)

Housing Loan Requirements

REQUIRED AT ALL TIMES

• HOUSING LOAN APPLICATION FORM (duly accomplished)
• Photocopy of 2 valid government issued ID's
• Appraisal Fee of P3,500 - non-refundable
• If with co-maker/co-borrower/attorney-in-fact, separate application form is needed

IF EMPLOYED:

INCOME DOCUMENTS

• Photocopy of the latest Income Tax Return (ITR)
• Certificate of Employment and Compensation
• Alien Certificate of Registration (ACR) and Official Receipt (if resident alien)

Overseas Filipino Worker

• Photocopy of Passport
• Contract / Certificate of Employment (COE) approved by the POEA, if applicable, authenticated by the Philippine Consulate (if direct hired)
• Proof of inward remittance thru PNB or other banks
• Crew Contract and Exit Pass from POEA (for seafarers only)
• PNB-prescribed Special Power of Attorney (SPA), if applicable
• If SPA was executed and notarized abroad, such has to be authenticated by the Philippine Consulate

FOR THOSE BASED IN:

KINGDOM OF SAUDI ARABIA:

1. The certificate of employment & salary should be stamped by the Saudi Chamber of Commerce; and
2. Authenticated by the Philippine Consulate

USA & US TERRITORY:

1. The certificate of employment & salary should be authenticated by the Phil. Consulate
2. Loan applicant to fill-out the Bank’s Credit Information Authority 

EUROPE:

1. The certificate of employment & salary should be authenticated by the Phil. Consulate
2. Loan applicant to fill-out the Bank’s Credit Information Authority

JAPAN:

• The certificate of employment & salary should be authenticated by the Phil. Consulate and should be with English Translation

FOR OTHER COUNTRIES / SEA - BASED:

• Certificate of Employment & Salary authenticated by the Phil. Consulate
• Proof of inward remittance thru PNB or other banks
• Crew Contract and Exit Pass from POEA (for seamen only)

IF SELF-EMPLOYED:

• SSS / GSIS / Driver’s License / PRC License
• Business Name (DTI) or SEC Registration
• Articles of Incorporation, By-Laws with SEC Registration Certificate and latest General Information Sheet if applicable
• General Information Sheet
• Financial Statements / Income Statement for the last 3 years
• Photocopy of the Income Tax Return (ITR) for the last 3 years
• List of Trade References (Suppliers / Customers)

PRACTICE OF PROFESSION:

• Clinic Address/es, schedules and contact numbers (for doctors)
• Bank Statements for the last six (6) months

IF FROM COMMISSION:

• Vouchers or Bank Statements for the last six (6) months reflecting commission income

IF FROM RENTAL OF PROPERTIES:

• Submit photocopy of Lease Contracts / TCT’s of Earning Properties
• Bank Statement for the last six (6) months

IF FROM TRANSPORT BUSINESS:

• OR / CR
• LTFRB Franchise
• Business paper / registration
• ITR for the last two (2) years
• Bank Statement for the last six (6) months

COLLATERAL DOCUMENTS

• Two (2) sets of clear photocopy of TCT / OCT / CCT (all pages including blank pages with the book and page / volume number indicated on the front page)
• Lot Plan with Location / Vicinity Map certified by a licensed Geodetic Engineer
• Photocopy of the latest Tax Declaration / Realty Tax Receipts / Tax Clearance
• Master Deed of Declaration & Restrictions (for Condominium)
• For construction / renovation purposes:
  • Building Plans (complete set) duly signed by a Civil Engineer / Architect
  • Bill of Materials / Specifications / Cost Estimates duly certified by a Civil Engineer / Architect
  • Scope of Work (for renovation)
  • Building Permit
• Deed of Absolute Sale or Contract to Sell (purchase of lot / house and lot)

FOR REFINANCING

• Current Statement of Account
• Official Receipt or cleared checks on amortization payments made or Passbook / Bank Statement where the monthly amortization payment is debited (at least 6 months)