Armed Forces and Police Savings & Loan Association, Inc. (AFPSLAI)
ELIGIBILITY:

All Regular and Associate Members who are in good credit standing and have satisfactorily complied with the documentary and paying capacity requirements.

LOAN TERM AND LOANABLE AMOUNT:

PURPOSE MAXIMUM TERM MAXIMUM LOANABLE AMOUNT
Acquisition of a House & Lot / Lot 20 years 70% of the Fair Market Value of the property being acquired or the loan amount applicable to the borrower's paying capacity, whichever is lower, but not to exceed P6 Million
Construction of a Housing Unit on a Previously Acquired Lot 20 years 70% of the Fair Market Value of the house and lot, or the loan amount applicable to the borrower’s paying capacity, whichever is lower, but not to exceed P6 Million
Acquisition of a Condominium Unit 10 years 60% of the Fair Market Value of the Condominium Unit being acquired or P6 Million, whichever is lower
Refinancing / Loan Take-out 20 years Outstanding loan balance, but should not exceed P6 Million. It should also satisfy the 70% Fair Market Value of the property and paying capacity requirements.
LOAN INTEREST RATE:


Term Effective Rate (IRR) Nominal Rate (Add-on)
5 years 6.88% 3.69%
10 years 8.00% 4.56%
15 years 9.00% 5.50%
20 years 10.00% 6.58%
* Based on No Billing Gap
* Terms in between periods shall be applied the next higher rate