Frequently Asked Questions
SPA - Special Power of Attorney; an authority given to representative of OFW buyers to transact on his/her behalf.
AIF - Attorney in Fact; another term for SPA.
Cedula - Community Tax Certificate; not required for OFW buyer. If married, only spouse in the Philippines can submit cedula. If single, only the SPA is needed to submit.
TIN - Tax Identification Number; OFW are exempted in tax. But TIN is a requirement in transferring lot Title to Buyer’s name. So SPA / Atty-in-Fact will apply a TIN in behalf of the OFW buyer. Applying is fast and easy.
COE - Certificate of Employment and Compensation; Gross salary and allowances must be indicated in the certificate. Must be Consularized by our embassy. Special Power of Attorney Form if signed abroad must be consularized by our embassy. Only 3 pages is required to be consularized.
PDC - Post Dated Checks; is strictly required to be submitted within 30-60 days. Not submitting the checks will cause delay in loan processing and house construction.
AIF - Attorney in Fact; another term for SPA.
Cedula - Community Tax Certificate; not required for OFW buyer. If married, only spouse in the Philippines can submit cedula. If single, only the SPA is needed to submit.
TIN - Tax Identification Number; OFW are exempted in tax. But TIN is a requirement in transferring lot Title to Buyer’s name. So SPA / Atty-in-Fact will apply a TIN in behalf of the OFW buyer. Applying is fast and easy.
COE - Certificate of Employment and Compensation; Gross salary and allowances must be indicated in the certificate. Must be Consularized by our embassy. Special Power of Attorney Form if signed abroad must be consularized by our embassy. Only 3 pages is required to be consularized.
PDC - Post Dated Checks; is strictly required to be submitted within 30-60 days. Not submitting the checks will cause delay in loan processing and house construction.
What is Inhouse Financing?
Inhouse financing is a direct loan from the Developer’s Office. Buyers will pay at the Developer’s Office. There is no loan application with any Bank.
Inhouse financing is a direct loan from the Developer’s Office. Buyers will pay at the Developer’s Office. There is no loan application with any Bank.
What is Bank Financing?
Bank Financing is a loan from our accredited banks, Metrobank (MBTC); Banco De Oro (BDO), China Bank and United Coconut Planters Bank (UCPB). Developer will apply and process the loanable amount or balance with the bank. Buyers will just submit the required documents.
Buyers have 60 days to change financing from Bank to Inhouse or from Inhouse to Bank Financing.
Bank Financing is a loan from our accredited banks, Metrobank (MBTC); Banco De Oro (BDO), China Bank and United Coconut Planters Bank (UCPB). Developer will apply and process the loanable amount or balance with the bank. Buyers will just submit the required documents.
Buyers have 60 days to change financing from Bank to Inhouse or from Inhouse to Bank Financing.
Who Can Apply for a Bank Loan?
Only Filipino citizens and immigrant are allowed to apply for a Bank loan. Filipinos who are already US, UK, Australian, Canadian citizens or citizens of other countries will not be qualified to apply for a bank loan.
Only Filipino citizens and immigrant are allowed to apply for a Bank loan. Filipinos who are already US, UK, Australian, Canadian citizens or citizens of other countries will not be qualified to apply for a bank loan.
How Long is the processing of loan with the Bank?
Two to three months. Delay in submitting required documents will affect the processing of the loan. That’s why, it is highly recommended to submit the documents within 30 – 60 days after reserving the unit. This will give Developer’s office ample time to evaluate your documents.
Two to three months. Delay in submitting required documents will affect the processing of the loan. That’s why, it is highly recommended to submit the documents within 30 – 60 days after reserving the unit. This will give Developer’s office ample time to evaluate your documents.
Bank Financing Guidelines
ADDITIONAL REQUIREMENTS FOR OFW (Abroad)
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