1 year | 5.0% |
2 years | 5.5% |
3 years | 6.0% |
4 years | 6.5% |
5 years | 7.0% |
Acquire your dream home with AFPMBAI
WHAT ARE ITS BENEFITS?
- For AFP Member who is due for mandatory or compulsory retirement from the service within five (5) years of less upon loan application.
- For purchase of a house and lot or condominium unit (completed), for purchase of a lot and house construction, for house renovation and house construction
- Easy and affordable payment up to 5 years
- With an annual 5%-7% interest only
- Loan amount is based on the following, whichever is lowest:
– 50% of retirement benefit + 100% of commutable accumulated leaves of absence of the applicant
– 70% of collateral’s appraised value and or collateral’s cost estimate
– Actual requirement
– P5M for officers or P3M for enlisted personnel
REQUIREMENTS
- Completed Real Estate Application Form
- Photocopy of Member’s two (2) Valid Government-issued IDs
- Photocopy of Spouse’s two (2) Valid Government-issued IDs
- Member’s 1×1 ID Photo
- Spouse’s 1×1 ID Photo
- Latest Payslip
Collateral Documents
- Photocopy of Title
- Photocopy of Tax Declaration of Lot or House and Lot
- Tax Clearance and Real Property Tax Receipts for current year
For Purchase of Lot/House and Lot/Condominium Unit
- Contract to Sell or Deed of Sale
For Construction Loan
- Building Plans (1 set)
- Bill of materials or Cost Estimate (1 set) must be noted by the Local/City Building Official
*All documents must be certified by an Architect or Civil Engineer
For Refinancing/Loan Take Out
- Statement of Account from current bank/financial institution
