OFFICE OF THE PRESIDENT • REPUBLIC OF THE PHILIPPINES
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  EastWest BankAddress:
EastWest Banking Corporation
20/F PBCOM Tower, 6795 Ayala Avenue cor Herrera St., Salcedo Village, Makati City 1226 Philippine

Trunkline:
575-3888 and 870-3500

   
Home Loan

Owning a home has never been this light and easy! With EastWest Bank Home Loans' lowest rate at 5.88%* fixed for the first year, getting that real estate property is now so easy on the pocket! Clients can enjoy a great deal of savings which they can use for other expenditures or purchases. Plus, EastWest Bank also provides flexibility and ease with payment terms of up to 30 years.

Unique Product Features Requirements General Frequently Asked Questions
Eligibility Payment Options  
Interest Rates Home Loan Process Flow  

 

Eligibility

BORROWERS
Attributes and qualities which reflect the ability to pay a debt when due.

  • Borrower must have identifiable, regular, stable & legitimate source of income.
  •  Applicant, co-borrower and mortgagor are of legal age, at least 21 years old and not more than 65 years of age upon maturity of the proposed loan.

EMPLOYED BORROWER

Must be continuously employed in a legitimate & established institution for at least 3 years

OFW / OCW

Nature of work must be under the category of professional & technical jobs

SELF-EMPLOYED BORROWER

Business is legitimate, identifiable, stable & profitable for the past 3 years

 

COLLATERAL
Fall back or secondary source of repayment in the form of value adequate and legally enforceable collateral / security.

  • Developed Residential Lots
  • House & Lot/ Townhouse/ Residential Condominium units (Home Acquire & Home Improve)‏
  • Single Family Developed Residential Lots & proposed improvements (Home Improve)‏
  • Commercial Properties
 

Interest Rates

eastwest

 

Fixing vs Floating Rate

Fixing Rate
The interest rate will be fixed for the whole tenor of the loan and the monthly amortization will be fixed.

Floating Rate
The interest rate will be fixed for a certain period. On the succeeding year, it will be recomputed based on the prevailing rate at the time of the anniversary date (date that the account was booked).

Note: If a fixed rate is preferred, the monthly amortization of the client will not be affected, regardless of prevailing rate. For the fixed income earner they can closely monitor their cash flow

 

Requirements

To be submitted together with the duly accomplished application form.

EMPLOYED

  • Copy of 2 valid ID's (photo-bearing Gov't ID)
  • Copy of Certificate of Employment w/ Compensation OR 3-Month Payslip
  • Copy of latest Income Tax Return
  • Copy of marriage contract, if applicable

SELF-EMPLOYED

  • Copy of 2 valid ID's (photo-bearing Gov't ID)
  • Copy of Income Tax Return
  • Two-year Financial Statements
  • Business Registration Papers: DTI or SEC
  • Bank Statements (for the last 6 months)
  • Copy of marriage contract, if applicable

OVERSEAS WORKERS

  • Copy of 2 valid ID's (photo-bearing Gov't ID)
  • Special Power of Attorney, if applicable
  • Latest Employment Contract or Certificate of Employment w/ Compensation
  • Proof of Remittance (Passbook / Remittance Slips for the past 3 months)
  • Copy of marriage contract, if applicable

COLLATERAL REQUIREMENTS

  • Copy of Title for collateral (TCT for land title / CCT for condo titile)
  • Copy of Tax Declaration on lot and/or improvements
  • Lot Plan with vicinity map signed by Geodetic Engineer
  • Master deed of declaration (for condo units)

ADDITIONAL REQUIREMENTS

HOME CONSTRUCT

  • Bill of Materials
  • Building Plans
  • Job Specification

REFINANCING/ TAKE-OUT

  • History of payments or ORs of payments for the last 12 months
  • Updated Statement of Account

RENTAL/LEASING BUSINESS

  • Contract of Lease
  • Copy of the Title of the property

CHARGES

Appraisal Fee should be paid before loan processing.

List of bank charges that clients need to pay before releasing the account:

  1. Processing Fee
  2. Doc. Stamps
  3. MRI
  4. Registration Fee
  5. Fire Insurance

ADDITIONAL

  1. Cancellation Fee (for Refinancing / Take-Out only)
  2. Sec. 7 RA 26 (Reconstituted Title)
  3. Sec. 4 Rule 74 (Cancellation)
   
 
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creba   CREBA
Chamber of Real Estate and Builders' Associations
oshdp   OSHDP
Organization of Socialized Housing Developers of the Philippines
shda   SHDA
Subdivision and Housing Developers Association
     

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