Guide on Landbank Housing Loan 2023 Application Process
LANDBANK HOUSING LOAN 2023 – You can check the guide below for the process in applying for the Developer’s End-Buyers Financing Tie-up of the Landbank of the Philippines.
Banks are among the entities that you can turn to when it comes to loans. Most banks in the country now, including the government-bank Landbank of the Philippines, have multiple loan offers.
Housing Loans are among the offers of Landbank. One of the loan offers is the Developer’s End-Buyers Financing Tie-up which aims to help the clients purchase or build their homes with an accredited developer through a loan to the bank.
The Developer’s End-Buyers Financing Tie-up agreement is open for several purposes. You may apply for it for the purpose of financing any of the following:
- acquisition of
- lots only
- properties ready for occupancy
- house and lots
- townhouse
- condominium units
- house construction
The approved loan amount is under the authority of the Landbank of the Philippines but the loanable amounts under the Landbank Housing Loan 2023 offer was generously posted by the bank. The loan repayment for socialized housing is allowed for up to 30 years. For other loan purposes, it is allowed for up to 20 years.
Here are the steps for the Landbank Housing Loan 2023 application process:
Step 1 — Check the Eligibility Criteria under the Landbank Housing Loan 2023 offer. To qualify for the Developer’s End-Buyers Financing Tie-up agreement, if you are the end-buyer or the borrower, you must meet the following qualifications:
- Developer must have existing credit lines with Landbank
- Developer and its subsidiaries has no existing credit lines with the bank but has passed the “Accreditation Process”
The government bank has set a different list of eligibility criteria for developers. The residential property developer must comply with the following:
- has existing credit lines/loans with Landbank
- no existing credit lines with the bank
- submit the duly Audited Financial Statements
- passed the “Accreditation Process”
Step 2 — Prepare the requirements. You need to prepare and submit the documentary requirements set under the Landbank Housing Loan 2023 Developer’s End-Buyers Financing Tie-up. Make sure to bring with you original copies of each document that is required for submission.
Step 3 — Go to a branch of the Landbank of the Philippines nearest to you and submit your documentary requirements. Go through the loan application process which may include an interview. Wait for the decision of the bank.