Armed Forces and Police Savings & Loan Association, Inc. (AFPSLAI)
PROCESS FLOW
WHO WHAT
Step 1 Member-Applicant 1. Submits filled-out Housing Loan Application Form including the initial documentary requirements to Loans Unit.
2. Pays appraisal fee.
Step 2 AFPSLAI 1. Conducts appraisal of property and credit investigation of applicant.
2. Evaluates and approves loan.


UPON APPROVAL

If for acquisition of House and Lot/Condominium
WHO WHAT
Step 3 AFPSLAI Issues Letter of Guarantee to seller and Mortgage Contract to buyer.
Step 4 Member-Applicant Submits other supporting documentary requirements:
- Transfer Certificate of Title (TCT) in the name of the borrower (already annotated)
- Mortgage Redemption Insurance (MRI)
- Fire Insurance
Step 5 AFPSLAI Releases loan proceeds.


If for Construction/Renovation of Unit
WHO WHAT
Step 3 Member-Applicant 1. Submits other supporting documentary requirements:
- Title (TCT) in the name of the borrower (already annotated)
- Mortgage Redemption Insurance (MRI)
2. Pays Fire Insurance prior to final release.
Step 4 AFPSLAI Releases loan proceeds in staggered basis as the member provides update of construction.