PRODUCT FEATURES

Counseling
Call RCBC Savings Bank for your housing loan needs. For a minimum loan amount of P300,000.00 you can avail up to 70% of the appraised value of your property. If you are employed, self-employed or a professional overseas worker, we’ll give you top-notch advice on where to buy  your property and provide you with the best option to pay your amortization.

Convenience
Sign an Automatic Debit Arrangement (ADA) from your RCBC Savings Bank savings or checking account so you need not to go to the bank each time you pay your monthly amortization.

Protection
Whether acquisition, renovation, refinancing, or take-out of your loan from another bank, we’ve got your house, condominium, or townhouse covered with fire insurance from Malayan Insurance Co., Inc.

REGULAR HOUSING LOAN

Purpose

• Purchase of lot, house & lot, condominium unit or townhouse
• Takeout of existing housing loan
• Renovation of existing home
• House Construction

Eligible Borrowers

• At least 21 years old upon loan application
• At most 65 years old upon loan maturity
• Filipino citizen or former Filipino citizen eligible under BP 185 guidelines; foreign nationals are eligible if purchasing a unit covered by CCT
• Permanently employed for at least one year; 2 years if OFW
• If self-employed, business must be at least 2 years in profitable operations

Home Financing Features

• Minimum loan amount - P300,000
• Maximum loan amount - P10,000,000 subject to borrower's paying capacity
  
• Interest Rate - Prevailing rate at the time of loan release
• Loan Valuation - Up to 70% of appraised value of vacant lots or of total contract price for RSB-accredited condo unit
                              - Up to 75 % of appraised value of lot plus up to 60% of appriaised value of house for house and lot and townhouses
                              - Up to 80% of total contract price for RSB-accredited house and lot/ townhouses
                              - Up to 60% of appraised value for condominium units
• Renovation/Home Improvement up to 60% of appraised value
• Collateral - Registered 1st Real Estate Mortgage on property
• Property located in MM, Calabar and within service areas of RCBC & RSB branches
• Minimum floor area of 50 sq.m.
• Insurance - Mortgage Redemption Insurance with Grepalife
• Fire Insurance with Malayan
• Repayment Mode - Opening of a checking or savings account for the payment of monthly amortization
• Repayment Terms - Equal monthly amortization representing principal and interest

RCBC Savings Bank also offers special housing loan packages for first time and existing homeowners through the Home Starter and Home Budgeter Loans.

HOME STARTER LOAN
The Home Starter Loan is created for First Time Homeowners with an innovative repayment feature. It comes with a grace period on amortization payments of up to 12 months to allow new homeowners to introduce home improvements before regular loan amortizations commence.

HOME BUDGETER LOAN
The Home Budgeter Loan is ideal for existing homeowners who want to lighten their debt burden by borrowing against the value of their home to pay-off and/or consolidate financial obligations and consumption-related expenses, e.g. tuition, travel, hospitalization, etc.

APPLICATION REQUIREMENTS

Employed

• Accomplished Application Form
• Certificate of Employment and Compensation
• ID cards
• TIN
• Residence Certificate
• Photocopies: TCT, Tax Declaration, Tax Receipt, Tax Clearance
• Location plan/vicinity map of property
• Building Plans/Bill of Materials (for construction)
• Statement of Account (for take-out of existing housing loan)

Self-Employed

• Accomplished Application Form
• Copy of last 2 years ITR
• Latest 2 years Financial Statements
• Business Registration/Permits
• Bank Statements – 6 months
• List of Suppliers and Customers
• Company Profile, Property Documents

For more details, please call:
DIRECT HOUSING LOANS DEPARTMENT
637-3152; 634-9503; 633-9505

DEVELOPER GENERATED HOUSING LOANS DEPARTMENT
633-9487; 637-7140; 637-7287