1. 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)

2. 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)


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

  • Minimum of PHP 40,000


4. What are the loan terms available?

  • Maximum of 25 years for house and lot
  • Maximum of 10 years for vacant lot, residential condominium, business loan, refinancing,or multi-purpose loans


5. What are the requirements to apply and avail of a loan?

  • To view complete list of Pre-processing requirements click here.

For Post-Booking FAQs, click here.

6. 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.

7. How much is the appraisal fee?

Starting August 1, 2013, appraisal fee is PhP 5,000.

8. 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)


9. 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*

*Please refer to your Bank Officer for a sample format.

10. I have an existing loan with Pag-ibig.  Can I have it transferred to BFB?

Yes, as long as Pag-ibig will honor our bank guaranty.

11. How much is the late payment charge?

3% of monthly amortization or of short payment, whichever is applicable.

12. 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.

Example:

Juan dela Cruz – principal borrower

BFB – bank where Juan dela Cruz has an existing housing loan

If Juan dela Cruz dies, BFB will be paid by the insurance company and loan is considered as paid in full.

13. How much is my MRI coverage?

MRI coverage should be equal to loan amount. However, the amount of coverage decreases yearly based on a schedule of pre-determined/pre-computed decreasing balance of the loan.

14. How much should I pay for the MRI premium?

Fee amount will depend on your loan amount, term, age, and other factors. The exact amount will be discussed to you by your Account Officer. For sample computations, you may contact our Housing Loan Hotline (02) 845-6888 or E-mail us at housingloan@bpi.com.ph.

15. How long should I pay the MRI premium?

This is a limited pay plan with premium paying period ranging from two-thirds to four-fifths (2/3-4/5) of the loan term. The premium is a fixed amount during the premium paying period provided there are no partial pre-terminations.

16. When will my rate change?

This will depend on the arrangement you made when the loan was booked.

17. Where can I request for computation if I plan to partially pay my loan?

Click this link or call 89100.

18. Where can I request for computation if I plan to payoff my loan?

Click this link or call 89100.

19. Where can I request for payment history?

Click this link or call 89100.

APPLY NOW FOR A BPI FAMILY HOUSING LOAN!