The new landmarks

GIANTS are now taking shape and changing Davao city's landscape, causing heads to turn whether they be travelers or residents.

These giants, aside from being head turners, are now becoming new landmarks and guiding points while going for a drive around the King City of the South.

MetroBank Home Loan

Am I eligible for a Metrobank Home Loan?

To qualify, borrower must be:

     • At least 21 yrs old at loan application and not older than 65 yrs old upon loan
       Maturity
     • A Filipino citizen or foreigner with permanent resident visa for the Philippine  
     • If based in the Philippines:
     • A self-employed or fixed income earner
     • Employed for at least 2 years with current employer
     • Earning at least Php 30,000 for self-employed individuals, or have the same
       Gross Monthly Family Income (GMFI) for fixed income earners
     

Community Mortgage Program (CMP)

Description.

The Community Mortgage Program (CMP) is a mortgage financing program of the Social Housing Finance Corporation (SHFC) which assists legally organized associations of underprivileged and homeless citizens to purchase and develop a tract of land under the concept of community ownership. The primary objective of the program is to assist residents of blighted areas to own the lots they occupy, or where they choose to relocate to and eventually improve their neighborhood and homes to the extent of their affordability.

SSS Contribution Schedule and Payment Deadline

Rate of Contributions to SSS

The monthly contributions are based on the compensation of members ( Please see table below). The current SSS contribution rate is 11% of the monthly salary credit not exceeding P16,000 and this is being shared by the employer (7.37%) and the employee (3.63%).

Pag-IBIG Fund cuts processing time on housing loan

Press Release

Pag-IBIG Fund housing loan applicants can now get their loan approval in just 17 days from date of submission of complete requirements and the proceeds of the loan in just 3 days after post-approval compliance. 

Pag-IBIG Fund made this commitment after it enhanced its procedure for housing loan transactions, effectively cutting the processing time from 27 days to 20 days from application to release of proceeds, and reducing the number of requirements from 14 to 7 documents. 

SSS Assumption of Housing Loan Mortgage

OVERVIEW

Assumption of Mortgage is a lending program of the Social Security System (SSS) allowing a member in good standing to assume the updated principal balance of an existing SSS housing loan.

ELIGIBILITY REQUIREMENTS

a. Eligible Borrowers

The principal applicant must have the following qualifications:

1. The borrower must be a member of SSS who has at least 36 months contribution and 24 continuous contributions in a period prior to application
2. Is not more than 60 years old at the time of application.
3. He was not previously granted an SSS housing loan
4. He has not been granted final SSS benefits
5. Borrower and spouse is current in the payment of their other SSS loan(s), if any

SSS Direct Housing Loan Facility for OFWs

OVERVIEW

The Direct Housing Loan Facility for Overseas Filipino Workers (OFW) is designed to support the Government's shelter program, which aims to provide socialized and low-cost housing to overseas Filipino contract workers.

An OFW is a private sector worker who is:

a. Currently deployed with a contract processed through the POEA or authenticated by the Embassy abroad

b. With employment contracts which are awaiting renewal/deployment; however, release of loan shall be made upon renewal/employment

c. A Filipino national but who is now a citizen or immigrant of a foreign countries but is interested in buying a housing unit for his family who is still in the country

d. A long-term resident overseas Filipinos who wish to avail of housing packages either for themselves when they retire or when they visit the Philippines and/or for their extended families