All Regular and Associate Members who are in good credit standing and have satisfactorily complied with the documentary and paying capacity requirements.
The loan must be used for any of the following purposes:
Acquisition of a House & Lot / Lot
Construction of a Housing Unit on a Previously Acquired Lot
Acquisition of a Condominium Unit
Improvement or Completion of an Existing Unit
Repair or Renovation of an Existing Unit
Refinancing / Loan Take-out
LOAN TERM AND LOANABLE AMOUNT:
For Acquisition of a House & Lot / Lot
Maximum Term: 20 Years
Maximum Loanable Amount: 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 ₱ 6 Million
For Construction of a Housing Unit on a Previously Acquired Lot
Maximum Term: 20 Years
Maximum Loanable Amount: 70% of the Fair MarketValue of the house and lot, or the loan
amount applicable to the borrower’s paying capacity, whichever is lower, but not to exceed ₱ 6
Million
For Acquisition of a Condominium Unit
Maximum Term: 10 Years
Maximum Loanable Amount: 60% of the Fair Market Value of the Condominium
unit being acquired or ₱ 6 Million, whichever is lower
Improvement or Completion of an Existing Unit
Maximum Term: 10 Years
Maximum Loanable Amount: ₱ 1 Million
Repair or Renovation of an Existing Unit
Maximum Term: 10 Years
Maximum Loanable Amount: ₱ 500,000
For Refinancing / Loan Take-out
Maximum Term: 20 Years
Maximum Loanable Amount: Outstanding loan balance, but should not exceed
₱ 6 Million. It should also satisfy the 70% Fair Market Value of the property and
paying capacity requirements.
Requirements (click to view the documentary requirements) Note: All borrowers must accomplish the Loan Application Form (including the Promissory Note and Authorization to Deduct)
MAIN REQUIREMENTS
Filled-up Loan Application Form and Promissory Note
One (1) 1x1 latest ID picture
Service ID/Pensioner ID and AFPSLAI ID
Marriage Contract (if married)
Certificate True Copy of Tax Declarations
Copy of OCT/TCT/CCT (Original Certificate of Title/Transfer Certificate of Title/Condominium Certificate Title)
OTHER DOCUMENTS, IF APPLICABLE:
Contract to Sell/Deed of Absolute Sale (for Acquisition of House & Lot/Lot/Condominium Unit)
Floor/Building Plan and Bill of Materials (for House Construction/Renovation)
Statement of Account/Proof of Outstanding Balance and Cancellation of Chattel Mortgage from Previous Financial Institution (for Refinancing/Loan Take-Out)
CCA/SDA Passbook and Deed of Assignment/Authority to Deduct from CCA/SDA (for payment through Auto Debit from CCA/SDA)
Two (2) latest original or printed online payslip and ITR for the past 2 years / Pension Certification (for payment through Salary/Pension Deduction)
Three (3) months’ payslip, COE and ITR for the past two (2) years (for payment through PDCs for employed Associate Member)
Business Registration/Permit, Income Statement/Financial Statement for the past two (2) years and Contract of Lease (for payment through PDCs – payment sourced from Business/Rentals)
Income Statement/Financial Statement for the past two (2) years and OR/CR and LTFRB Permit to Operate (for payment through PDCs – payment sourced from PUVs)
ADDITIONAL DOCUMENTS AS REQUIRED BY EACH BOS/PAYJUR (for payment through Salary/Pension Deduction)
GHQR
Pension ATM card (optional)
Retirement Order and/or Declaration of Legal Beneficiary
PN, PA, PCG, GHQ Active (to include PMA, PSG, VLUNA)
Appointment Order/Re-enlistment Order/ETAD/Re-appointment Order
Any 1 clearance (Unit, JAGO, or Certification of Status or its equivalent)
PAF
Willingness to Re-enlist
Provost Marshal Clearance or IG Clearance
Spouse Consent (if married)/Certificate of Singleness (if single)
PNP, BJMP
Certificate of Non-pending Case
Duty Status
BFP, BFPR
Certificate of Non-pending Case
Two (2) government-issued ID (photocopy), affix three (3) signatures (in the absence of Service/Pensioner ID)
NOTE: Other AFPSLAI requirements will be provided/processed by the Branch (such as Authority for Inspection, Notarization of ATD/APD, LOG, Mortgage Contract, Encumbrance of OCT/TCT/CCT, Fire and MRI, CRI, etc.) and associated fees to be shouldered by the member-borrower, if any.
INSTRUCTIONS:
To know your monthly amortization:
Enter the total price of the property.
Enter your desired down-payment (minimum of 30% of total price of property).
Select the number of years you want to amortize your loan.
Click “COMPUTE” to know your monthly amortization or “RESET” to clear entries.
Note: "Total Price of Property" shall refer to the appraised value of fair market value of the property.
Please note that the computation above is only indicative. You may call us or visit any AFPSLAI Branch nearest you for the actual details.
Procedures
Borrower submits LAF and requirements.
if submitted documents comply with all the requirements, Loan Specialist proceeds with the
processing of loan (new/renewal).
Loan Specialist endorses the loan application for approval.
Upon approval of the loan, Loans Specialist will require to submit loan release requirements.
If all loan release requirements are complied, borrower receives his/her loan proceeds.
FAQs
Q: What are the fees for this loan?
A: This loan includes Mortgage Fee, Insurances and Appraisal Fee, which shall be borne by the borrower.
Q: Can we use a collateral that is not under the name of the spouse or the borrower?
A: No, only collateral/s under the name of the spouse is acceptable in applying for Real Estate Loan.
Q: Is this loan covered by Credit Redemption Insurance?
A: Yes, provided that borrower is below 65 years old. This type of loan is also covered by Fire/Mortgage
Redemption Insurance.
