Owning a home is one of the most rewarding milestones in life, and AP Residences is here to make that dream come true.
Its premier communities, Golden Ridge Homes and Garden of Dreams offer modern, well-designed, and affordable homes for Filipino families seeking comfort, security, and long-term value.
We understand that buying a home is a significant financial commitment, which prompted us to offer flexible financing options, like the BPI Housing Loan, to help make homeownership more attainable and within reach for our buyers.
Financing Your AP Residences Home
We believe that every hardworking Filipino should have the opportunity to own a home, and financing plays a key role in making that possible.
If you’re considering a bank loan, the BPI Housing Loan is one of the best options available, offering:
- Flexible Payment Terms – Spread your payments over several years for more manageable monthly costs.
- Competitive Interest Rates – Get fair and reasonable financing tailored to your needs.
- High Loan Amounts – Fund up to 90% of the property value, depending on eligibility.
Find Your Dream Home with AP Residences
What is BPI Home Loan?
Bank of the Philippine Islands offers a flexible and accessible mortgage product that helps Filipinos own a house or improve their current property.
The bank offers financing options to buy a new house, refinance an existing home loan, or renovate your property with industry-compliant interest rates and manageable repayment terms.
Key Features
BPI provides competitive interest rates, flexible loan terms, and an easy application process to help you achieve your home goals.
With its range of features tailored to fit different financial situations, BPI Home Loan ensures that homeownership is within reach for more Filipinos. These are key features to consider:
1. Flexible Loan Terms
BPI Home Loan offers flexibility for the loan repayment period. Clients can choose a repayment term that fits their financial capacity.
Loan terms range from 5 to 20 years, giving them the freedom to opt for shorter or longer periods based on their budget and goals.
A shorter loan term typically results in higher monthly payments but allows you to pay off the loan faster, while a longer loan term offers lower monthly payments but may accumulate more interest over time.
This flexibility ensures that loans are manageable and fit the financial situation of clients.
2. Competitive Interest Rates
One of the considerations of clients is the interest rate that a loan comes with. BPI Home Loan offers competitive rates that make home financing more affordable. You can choose between two types of interest rates:
- Fixed Rate: This interest rate remains the same throughout the loan term. It offers predictability and stability because of uniform payment each month. It best fits clients who prefer a consistent financial plan and avoid the uncertainties of fluctuating rates.
- Flexible (Variable) Rate: This interest is subject to changes in market conditions. It is typically linked to the Bangko Sentral ng Pilipinas (BSP) key rates. This results in lower initial rates at first but changes can happen over time. Borrowers who are comfortable and can afford a certain level of variability and seeking to lower monthly payments can choose this interest type.
3. Loan Amounts
BPI offers home loans with substantial loan amounts. Borrowers can avail up to 80% of the appraised value of the property they wish to buy, renovate, or refinance. The amount can cover a significant portion of the purchase or construction price.
The minimum loan amount starts at ₱100,000 which is ideal for smaller projects or properties. The maximum amount range depends on the borrower’s eligibility and appraised property value.
4. Versatility
One of the standout features of the BPI Home Loan is its versatility. The loan can be used for purchases related to ownership such as:
- Home Purchase: For clients who want to buy new or pre-owned properties.
- Home Renovation or Improvement: For clients looking to enhance their existing property, such as adding extra rooms, upgrading their kitchen, or making structural repairs.
- Construction: For those who plan to build their own home.
- Refinancing: For borrowers who already have an existing home loan with another bank or lender and look for a loan that gives them better terms, such as lower interest rates, a more manageable payment schedule, or even cash-out options.
5. Easy Application Process
BPI makes it easy for applicants to apply for a home loan. They can either apply online through BPI’s official website or visit any branch for face-to-face assistance.
Online transactions allow applicants to securely submit documents digitally to speed up the application process. The documents needed can include their proof of income, government-issued IDs, valid proof of billing, and details about the property.
6. Insurance Options
Borrowers can also include mortgage life insurance in their loan application. This is a type of insurance that protects their family’s financial security in case of unexpected events such as the borrower’s untimely demise. The insurance helps pay off the loan balance to ease the burden on the family.
This feature provides additional peace of mind during the loan period, knowing that the home is protected.
7. No Prepayment Penalties
BPI offers flexibility in terms of early payments. Unlike other home loan products that impose penalties for paying off loans before the end of the term, BPI Home Loan does not have such penalties.
Those who are financially capable of terminating their loan terms early can do so without extra charges.
8. Loan Protection
BPI also provides a home loan protection insurance option for its borrowers. This insurance covers both the borrower and the property. In the unfortunate event of the borrower’s death or disability, the loan protection ensures that the outstanding loan balance is settled, providing financial relief for the borrower’s family.
It also protects the property, ensuring that the home remains secure even if life events make it difficult to continue loan payments.
These features ensure that BPI Home Loan remains a competitive and flexible option for Filipinos looking to own or improve their homes. The ability to choose from a range of loan amounts, terms, and insurance options gives customers greater control over their home financing journey.
BPI Home Loan Requirements
There are specific requirements that borrowers need to meet when applying for a BPI Home Loan. The requirements are designed to assess the financial capacity of the client to pay off the loan. This is the detailed list of requirements to secure:
1. Basic Eligibility Criteria
- Age: Borrowers must be at least 21 years old but not older than 65 years old at the time of loan maturity to ensure that they can afford the loan.
- Citizenship: Applicants must be Filipino citizens or foreign nationals with a valid and legal status in the Philippines.
- Income: They must have a stable source of income to demonstrate that they are capable of making regular monthly payments. This could come from employers, businesses, or other reliable income sources.
- Creditworthiness: BPI will assess the borrower’s credit history and ability to repay the loan based on their previous loans, payments, and overall financial behavior. A good credit score is essential for approval.
2. Required Documents
To complete the application, borrowers will need to submit several documents, which can vary slightly depending on the type of loan they are applying for. Generally, these are the documents to prepare:
Personal Documents
- Government-issued ID: A valid and government-issued identification card, such as a passport, driver’s license, or SSS/GSIS ID.
- Proof of Billing: A recent utility bill (electricity, water, or landline) to confirm their address.
- Birth Certificate: To verify borrower’s identity and age.
- Marriage Certificate (if applicable): For married applicants, a document of their marital status is needed.
Income Documents
These are the income documents to be secured to prove a borrower’s capacity to pay off the debt:
For Employees:
- Latest payslips (typically 3 months’ worth) or Certificate of Employment (COE) from their employer stating their position, tenure, and salary.
- BIR Form 2316 (Income Tax Return or Tax Certificate).
For Self-employed/Business Owners:
- Business registration documents (DTI or SEC registration, if applicable).
- Audited Financial Statements (2 years).
- Income Tax Return (ITR) and/or BIR Form 1701.
Property-related Documents
To help the bank appraise the value of the property, these are the documents that they should submit:
- Proof of Ownership: This could be the deed of sale (for buying a house), lot title, or other legal documents that establish ownership of the property the borrower plans to finance.
- Appraisal Report: BPI will usually have its accredited appraisers evaluate the property to determine its market value. This helps determine the loan amount they can release.
3. Down Payment
BPI requires a minimum down payment of 20% of the property value for the home purchase loan. This ensures that the borrower has a stake in the property, reducing the risk for both the bank and the applicant.
4. Loan Type Requirements
These are the documents that should be prepared to determine the loan type to be applied for:
For Home Purchase: Aside from the property documents, borrowers need to submit a copy of the sales contract, tax declaration, and other legal documents related to the property transfer.
For Construction or Renovation: They may need to provide a construction plan, contractor details, or renovation proposals along with their application.
For Refinancing: In addition to personal and income documents, they will need to provide the latest statement of their existing home loan and any related documents to prove their current loan balance and payment history.\
5. Additional Requirements (if applicable)
In some instances, the bank will require borrowers to provide additional documents to assess their eligibility and capacity to pay. A sample additional requirement is a co-borrower.
A co-borrower, like a spouse or family member, who is also applying for the loan should also provide the necessary documents. This person increases the chances of approval and can help in qualifying for a larger loan amount.
For individuals considering owning a unit at AP Residences, BPI Home Loan presents a practical and reliable solution to help you achieve that goal. The tailored financing options ensure that homeownership is within reach even if they are starting out or looking to move to a better housing facility.
The flexibility of BPI Home Loan allows them to choose a loan term that aligns with their financial capacity, giving them the freedom to manage their monthly payments according to their budget.
Whether they prefer the stability of a fixed rate or the adaptability of a flexible rate, BPI offers competitive interest rates that can suit their long-term financial planning.
Moreover, borrowers need to understand their financial capacity to make sound investments. BPI Home Loan takes into account their income, creditworthiness, and ability to make regular payments, ensuring that the loan amount and terms they are offered are manageable and realistic.
The bank makes downpayments affordable to empower borrowers without burdening their finances.
Choosing BPI Home Loan as their financial partner offers a leeway with their initial purchase of the AP Residences unit they desire.
A team is also ready to guide borrowers both from the bank and developer in their journey to achieve the key to their dream home.
