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  #1  
30th January 2017, 11:31 AM
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PNB Own A Philippine Home

I want to apply for Own a Philippine Home Loan (OPHL) in Philippine National Bank so can you provide me the details of the loan?
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  #2  
30th January 2017, 12:07 PM
Super Moderator
 
Join Date: Mar 2013
Re: PNB Own A Philippine Home

Own a Philippine Home Loan (OPHL) is a financing program unique to Philippine National Bank PNB.

It allows Filipinos and non-Filipinos residing and working abroad an easy way to purchase residential real estate in the Philippines.

Own a Philippine Home Loan (OPHL)

Purpose

Purchase of Lot, House & Lot, Condominium, Townhouse or Rowhouse

House Construction or Home Improvement

Refinancing of a Philippine Peso home mortgage loan

Reimbursement of Acquisition or Construction Cost

Eligible Borrowers -

Filipinos residing and working in Singapore who have maintained their Filipino citizenship

Natural-born Filipino citizens residing and working in Singapore who have lost their Filipino citizenship (limited to the purchase of up to a maximum lot area of 1,000 sqm only).

Foreigners or nationals of foreign countries but limited to the acquisition of condominium units only where the majority is owned by Filipino Citizens or the foreign ownership in the Condominium Corporation should not exceed 40% as required by Philippine Law.

Borrower's gross annual salary shoud be at least SGD 48,000.00

Borrower's Total Debt Servicing Ratio must not exceed 60% of Gross Monthly Income

Interest Rate

The following interest rates shall apply under the OPHL program:

9.00% fixed for 10 years
8.50% fixed for 5 years
7.50% fixed for 1 year

Repayment Scheme

Maximum of 20 years for house construction and purchase of house and lot, townhouse condominium unit, rowhouse or apartment unit

Maximum of 10 years for purchase of lot or home improvement

Repayment of loan shall be in US dollars. Payment is to be made directly to PNB Singapore either through submission of post-dated checks or through auto-debit arrangement.

Amount of monthly amortization shall be adjusted upward or downward depending on the interest rate charged for a particular interest period.

Payments commence one month after a lump sum loan release or one month after the initial loan release for house construction. Monthly amortization for house construction will increase as staggered releases are made.

Contact-

PNB
Main Branch
304 Orchard Rd #03-02 to 07 Lucky Plaza Shopping Centre,
Singapore 238863
Office Hours: 9:00 AM - 7:30 PM, Monday to Sunday

Trunk Line: +65 6737 4646 (connecting all departments)

Extensions:
111, 112 & 113


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