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SECURITY BANK SAVINGS HOME LOAN

PRODUCT FEATURES

Acceptable Loan Purpose
Acquisition of a residential house and lot, townhouse/duplex, condominium unit, or vacant lot.
House construction
Refinancing/Take-out of existing housing loan.
Reimbursement of acquisition cost or construction cost.

Loan Amount
Minimum loan amount of Php500,000.
Maximum loan amount of PHP20,000,000, or:
      Up to 80% of appraised value of brand new house & lot; or selling/contract price for accredited developers.
      Up to 70% of appraised value of residential lot, condominium unit, or house & lot intended for second home use or investment use

Flexible Payment Terms:
Minimum term of 1 year.
Maximum term of:
      25 years for acquisition of house and lot.
      20 years for acquisition of townhouse/duplex.
      15 years for acquisition of a residential vacant lot or a residential condominium unit.

Low Interest Rates Deal
Enjoy our lowest interest rates starting at 5.25%*, fixed for one year!
With interest rate fixing options from 1 up to 10 years.

*Interest rate of as April 19, 2013, fixed for one year. Interest rates are subject to change without prior notice.

Availing of a Security Bank Savings Home Loan is easy and simple.

Loan Qualifications:
Applicant must be at least 21 years old, but not more than 65 years old upon loan maturity.
Has a minimum monthly income of Php30,000.00.
Has been continuously employed with current and previous employers for at least 2 years
For self-employed/business owners, must be operating legitimately and profitably for the last 3 years.


Submit the following documents during application:

A.
REQUIREMENTS FOR LOCALLY-EMPLOYED BORROWERS
Completely filled out and signed application form
Clear copy of marriage contract (if married)
Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/signatories of the loan
Certificate of Employment with Compensation (issued within the last 6 months)
Latest Income Tax Return OR Latest 3 months payslips
Copy of utility billing (not more than 3 months old)

B.
REQUIREMENTS FOR SELF-EMPLOYED BORROWERS / PRACTICING PROFESSIONALS
Completely filled out and signed application form
Clear copy of marriage contract (if married)
Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/signatories of the loan
Bank Statements (latest 6 months)
Income Tax Return (1701 for sole proprietary owner; or 1702 for Corporation) with Audited Financial Statements for the past 3 years
Certificate of Business Registration with DTI (sole proprietorship)

C.
REQUIREMENTS FOR OFW BORROWERS
Completely filled out and signed application form
Clear copy of marriage contract (if married)
Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/signatories of the loan
Certificate of Employment with compensation (issued within the last 6 months); OR Latest Crew Contract (for seafarer/seaman); OR Employment Contract (for land-based OFWs) duly authenticated by Philippine Consulate or POEA (for nurse and other contract workers)
Latest 3 months payslip; OR bank statement for past 3 months

D.
COLLATERAL DOCUMENT REQUIREMENTS
Copy of collateral title (TCT/CTC)
Lot Plan and Vicinity/Location Map
Tax Declaration on land and/or improvement
Signed Authority to Inspect and verify (bank form)
Appraisal Fee: OR Number ______________________________

Acquisition from Accredited Developer
Contract to Sell; or Reservation Agreement

Home Construction or Renovation:
Bill of Materials and Estimates of Construction and Labor Cost
Floor and Building Plan and Building Specifications

Loan Take-out / Home Equity
Proof of amortization payments for the last 3 months
Statement of Account from Mortgagee Bank

Apply for a Security Bank Savings Home Loan now!

Click here to view and download the Home Loan Application Form. For interest rates and other details, call (02) 464-3000 or visit any of our Security Bank Savings branches nearest you.