Financing a home can seem like a daunting experience but it does not have to be. Get in touch with our marketing consultants through the Make An Inquiry button above and allow us to work with you to qualify for a loan or come up with a payment scheme most suited to your financial capabilities. Below is a comprehensive list of pre-qualifications for the financing options available to you.
in house financing
Hidalgo Land offers in-house financing with competitive interest rates and flexible payment terms for buyers who do not qualify for a financial institution loan. We require our buyers to pay 30% equity, payable in 24 months and 70% balance, up to 180 months at 8% up to 12% interest per annum.
a.) Latest Certificate of Employment & Compensation;
b.) Pay slips for past 3 months;
c.) Buyer has to have a monthly income of at least 2.5 times of the monthly amortization;
d.) Must submit complete Post Dated Checks;
e.) Marriage Contract, if married;
f.) 2 Valid I.D’s;
For Self-Employed Individuals:
a.) Financial Statements and ITR for the past and current year;
b.) Certificate of Registration of Business Name;
c.) Business Profile;
d.) Latest Community Tax Certificate.
2. pag-ibig loan
Most home buyers look for houses and properties that can be financed through Pag-ibig for two simple reasons: lower interest rates and longer payment terms. Currently, Pag-ibig interest rates start at 5.375% up to 10% per annum. A house financed through Pag-ibig is payable up to 30 years. We require our buyers to pay us at least 30% equity, up to 24 months, and the 70% balance through Pag-ibig Financing. Our marketing consultants will be assisting you every step of the way!
a.) Must be a Pagibig active member and have contributed of at least 24 months of contribution;
b.) Have a gross monthly income not exceeding P 17,500.00;
c.) If with existing Pag-Ibig housing account, it must be updated;
d.) Have no outstanding Pag-Ibig Short Term Loan in arrears at the time of loan application;
e.) Have the legal capacity to acquire and encumber real property;
f.) Have passed satisfactory background/credit and employement/business checks of Pag-Ibig Fund;
h.) Are not more than 65 years old as of date of application and must be insurable;
i.) Must have had no Pag-Ibig housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago.
3. bank loan
When considering a home loan application, banks usually have their basic eligibility and document application requirements. If the requirements are met, you’ll then be asked to fill up an application form that can be accessed online. Bank loan starts at 6.5% up to 12% per annum and can be payable up to 20 years . Again, we require our buyers to pay us at least 30% equity, up to 24 months, and the 70% balance through bank financing. Our marketing consultants will be assisting you every step of the way!
a.) At least 21 years old but not exceeding 65 years old upon loan maturity;
b.) With steady, dependable & verifiable source of income;
c.) Employed for at least 3 years in a supervisory/managerial position with a reputable company (for employed individuals);
d. If self-employed, at least 2 consecutive successful and profitable years of operation;
e.) Certificate of Employment (COE) indicating salary, position and length of service;
f.) P50,000/mo. for Metro Manila / Metro Cebu. P35,000/mo. for other provincial areas;
g.) No adverse credit findings like court cases, bouncing checks, unpaid loans, canceled credit cards, etc.