Real Estate/Housing Loan

Housing Loan


  • Purpose:
  1. Purchase of townhouse, condominium unit, house & lot
  2. Construction/Renovation/Completion of Residential House


  •  Security: The property to be financed together with its improvements, if any


  • Collateral Valuation: 70% of the acquisition cost of the real estate property to be financed


  • Terms and Repayments:
  1. Maximum of fifteen (15) years loan maturity
  2. Monthly amortization based on equal monthly payments


  •  Loan Requirements:
  1. Owner’s Duplicate Copy of Title/Tax Declaration of the property to be financed
  2. Real Estate Tax Receipt/Clearance for the current year
  3. Duly notarized Letter of Guarantee from the Vendor/Seller for the issuance of new documents under the name of the buyer/borrower
  4. Duly notarized Deed of Conditional Sale
  5. Mortgage Redemption Insurance (MRI)/Credit Life Insurance (CLI) coverage for the full amount of the loan to be endorsed in favor of the Rural Bank of Rosario (L.U.), Inc
  6. Fire Insurance and Earthquake Insurance Coverage on improvements, if any in favor of Rural Bank of Rosario (L.U.), Inc. with loan loss clause in favor of the bank
  7. Pictures of the property to be financed
  8. Residence Certificates or any valid ID of borrower, co-borrower and co-makers (current year)
  9. 2” x 2” ID pictures (borrower/co-borrowers)
  10. Latest Financial Statement / Annual Income Tax Return


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