Who are eligible to apply for a BPI Family Housing Loan?
Anyone of the following, who are of legal age, but not more than 65 years old upon maturity of the loan:

• Filipino citizen

• Foreigner married to a Filipino citizen, subject to specific documentary requirements

• Foreigner with issed immigrant / resident visa, subject to specific documentary requirements (for acquisition of residential condominium unit only)

How much can I borrow?

• Minimum of PHP400,000

• Maximum of 70% of appraised value of house and lot

• Maximum of 60% of appraised value of vacant lot or residential condominium

• Up to 80% of appraised value of house & lot not to exceed P5M (provided applicant is employed and purpose is for owner occupancy)

How much should my minimum total household income be to qualify for a loan?

Minimum of PHP 40,000

What are the loan terms available?

• Maximum of 20 years for house and lot

• Maximum of 10 years for vacant lot, residential condominium, business loan, refinancing,or multi-purpose loans

How long is the processing period of my application?

The credit result may be available within 2 weeks or less after verification and submission of the complete set of requirements for loan application.

I am a Filipino married to a foreigner.  My husband has a permanent residency in the Philippines.  Is it possible for my husband to purchase a house and lot through bank financing?

Yes.  Purchase of house and lot or vacant lot will be considered if a foreign national is legally married to a Filipino citizen. The property would be under the Filipino and his/her spouse's name. They must also be residing/working here in the Philippines for at least 2 years.

The following must be submitted and executed by the foreigner:

1. Affidavit of Support

2. Waiver of Rights over the collateral property

   • Accomplished in 2 copies

   • Must have two (2) witnesses

   • Must be notarized

3. CENOMAR (Certificate of No Marriage) - NSO certified with official receipt – this was recently required since some Filipinos are living in with foreigners but are not legally married.

4. Income documents (Certificate of Employment and Compensation and Income Tax Return)

5. Copy of Alien Certificate of Registration (ACR)

I am an Overseas Filipino Worker, can I apply for a housing loan?

Yes, provided you can submit the following:

• COE or Contract indicating salary, position, and tenure, IF LOCAL HIRE

• English translated COE with latest 1 month payslip or Contract authenticated by Philippine Consulate, IF DIRECT HIRE

• Oath of Allegiance from the Philippine Embassy, IF DUAL CITIZEN

• Loan Administrator with address, contact no., and relationship to borrower, IF YOU WILL BE UNABLE TO PERSONALLY SUBMIT REQUIREMENTS

• Consularized Special Power of Attorney, IF YOU WILL BE UNABLE TO SIGN THE LOAN DOCUMENTS IN THE PRESENCE OF A BANK OFFICER IN THE PHILIPPINES*

What is MRI?

MRI is a term insurance coverage for the borrower with the Bank as beneficiary. GFSP or Group Financial Security Plan is now the new term for MRI.

SOURCE: https://www.bpiexpressonline.com/p/1/124/housing-loan-faq

For more information and updates about Bank home loan, please free to contact me at;

Maica Castillo
0956 338 1170
[iamdrivenmaica@gmail.com](mailto:iamdrivenmaica@gmail.com)