Frequently Asked Questions
1. Who is qualified to apply? Filipino Citizen, of legal age but not more than 65 years old upon maturity of the loan, for HDMF Financing. Filipino Citizen, of legal age but not more than 60 years old upon maturity of the loan, for In- House Financing. Filipino Citizen, of legal age but not more than 55 years old upon maturity of the loan, for BankFinancing.
2 .What a
re the required documents? HOME DEVELOPMENT MUTUAL FUND
1. Locally Employed
MSVS
Certificate of Employment & Compensation (Notarized)
Latest Pag-IBIG Contribution (2 years)
Latest one (1) month payslip (original)
Proof of Billing/Certificate of Tenancy/Sketch of Residence Address
Company ID w/ 3 specimen signature
ID Picture 1 X 1 (5 pcs)
Latest W2 ITR
Marriage Contract/Birth Certificate
Cedula
PDC
Spouse ID
2. Self Employed
MSVS ( Membership Status Varification Slip)
Mayor's Permit / DTI Registration / Buss. Permit
Latest Premium Payments ( HDMF - 2 yrs )
Audited Financial Statement of Business
Proof of Billing / Cert. of Tenancy / Valid I.D
I.D Pictures 1x1 ( 5pcs. )
Latest W2 / I.T.R (CERT. TRUE COPY W/ DOCS STAMP)
Marriage / Birth Certificate (NSO CLEAR COPY)
Tax Payer's Identification Card (clear copy)
Sketch of Residence Address
3. OFW
MSVS ( Membership Status Varification Slip)
Latest / Consularized Copy of Job Contract
Latest Premium Payments ( HDMF - 2 yrs ) (orig.) Latest Remittances (orig.) Latest Pass Port (photocopy)
I.D Pictures 1x1 ( 5pcs. )
NSO Marriage Contract / Birt Certificate (clear copy)
Any Govt. I.D (2 valid id) (clear copy, back to back)
Tax Payer's Identification Card (clear copy)
Notarized / Red Ribbon SPA Form
B. IN-HOUSE FINANCING
1. Locally Employed
Proof of Billing
Birth Certificate
Marriage Certificate (if applicable)
Government ID (w/ picture)
Tin No. Six (6) months Proof of Remittance or Bank Statement
2. OFW
C. BANK FINANCING
1. Locally Employed
· Duly accomplished and signed Credit application Form for Housing Loan
· Signed Letter of Authority
· Birth Certificate\
· Marriage Contract (if applicable)
· Copy of Valid Government ID (w/ picture)
· Copy of ITR (latest)
· Copy of Certificate of Employment w/ Compensation or three (3) months latest payslip
· Copy of Bank Statement for the last six (6) months
2. Self-Employed
· Duly accomplished and signed Credit application Form for Housing Loan
· Signed Letter of Authority
· Birth Certificate
· Marriage Contract (if applicable)
· Copy of Valid Government ID (w/ picture)
· Copy of ITR & Audited FS for the last three (3) years
· Business Registration Papers : DTI or SEC
· Copy of Bank Statement for the last six (6) months
3 .OFW
· Duly accomplished and signed Credit application Form for Housing Loan
· Signed Letter of Authority
· Birth Certificate
· Marriage Contract (if applicable)
· Copy of Valid Government ID (w/ picture)
· Copy of Latest Employment Contract or Certificate of Employment w/ Compensation
· Three (3) months Latest Payslip
· Copy of Bank Statement or Proof of Remittance for the last six (6) months
· Consularized Special Power of Attorney (if applicable)
3. Can I cancel the reservation? Is there a refund in my reservation fee? Yes, you can cancel the reservation. Submit a letter and e-mail it to [email protected] or fax it to 5709688. Letter must be attentioned to Customer Service Representative. No, there is no refund in the reservation fee.
4. After reservation, can I transfer my unit to a different Block & Lot or area/location? Yes, we allow transfer of unit to other Block & Lot within the same project or different area. Letter must be attentioned to Customer Service Representative.
5. Until when is the reservation valid? What are the grounds for cancellation of reservation? If buyer failed to submit initial documents within forty five (45) days from reservation date, reservation is automatically cancelled. Reservation fee is forfeited. If buyer has submitted initial documents and failed to settle monthly amortization (equity) for three (3) consecutive months.
6. What are the steps in processing housing loan? When can I apply for Move-In? HOME DEVELOPMENT MUTUAL FUND
· Buyer will give initial documents upon reservation;
· Upon Full payment of Equity of availed unit, Marketing-Documentation will contact buyer to submit updated/lacking requirements
and signing of Pag-IBIG documents.
· After submission of documents, Documentation will check and prepare folder for submission to Home Development Mutual Fund;
· Home Development Mutual Fund will do background checking to validate buyer’s information;
· After background checking, Documentation will contact buyer for Pre-Take Out Seminar Validation.
· After attending seminar, buyer will wait for Notice of Ammortization (NOA) indicating date of Take-Out and amount of monthly amortization.
· Buyer can apply for Move-In
B. IN-HOUSE FINANCING
· Buyer will give initial documents upon reservation;
· Upon Full payment of Equity, buyer can apply for Move-In. BANK FINANCING
· Buyer will give initial documents upon reservation;
· Upon Full payment of Equity, buyer will give copy of Letter of Guaranty .
· The New Apec Development Corporation will comply all post approval documents for submission to bank.
· Upon loan released from Bank, buyer can apply for Move-In
7. What are the requirements for Move-In? HOME DEVELOPMENT MUTUAL FUND
· Housing loan must be Take-Out (Loan is released)
· Move-In fees must be paid
· One (1) month advance in Home Development Mutual Fund (Cash Basis)
· Thirty Five (35) pieces of PDC for Home Development Mutual Fund amortization
· Punchlist
B. IN-HOUSE FINANCING
· Full payment of Equity (30% of TCP)
· Move-In fees must be paid
· Complete PDC for 2nd REM (70% of TCP)
· Punchlist
C. BANK FINANCING
· Full payment of Equity
· Move-In fees must be paid
8. When is the Turn Over of keys to me? Unit keys will be released after thirty (30) WORKING DAYS from date of compliance of requirements (Occupancy approved)
9. Can I request for Early Move-In? Yes, but this will be subject for review and approval. We have to check several factors, for instance;
· House construction
· Project facilities (Meralco & Water connection)
· Status of folder. If buyer already has :
1. Approved Membership Status Verification Slip
2. If folder has been annotated
3. Buyer has attended Pre Take-Out Validation Seminar
