For over 12 years now, Pueblo de Oro Development Corporation (PODC) has been working in partnership with the Home Development Mutual Fund (HDMF) or Pag-IBIG to offer PODC’s buyers low financing rates, hassle-free documentation, and affordable amortizations.
Real estate financing, with its longer payment terms and low interest rates, makes it easier for potential buyers to own a house and lot even during times of recession and economic slowdown. Pag-IBIG has taken steps to make home financing more affordable by increasing its loan ceiling from one million pesos in 2000 to two million pesos in 2006 and lowering its rates for a two million peso loan from 14% to 10.5%. This translates to lowered amortizations by 10% to 26% for loans between P400k to P2M, respectively.
Pueblo, for its part, has been consistent in its role of delivering quality accounts to Pag-IBIG, who have cited PODC as among the Top 5 developers of Northern Mindanao with the highest level of performing accounts ratio rating of 99.98% amongst the 12 local developers in Northern Mindanao (source: Pag-IBIG Region 10 Jan 2008-Dec 2008 survey).
Pag-IBIG has further simplified the process of securing loan approval for individual borrowers with the Contract to Sell Financing window under HDMF Circular 243. As a developer in good standing and proven track record, PODC has been authorized to orient buyers, prequalify them and approve their loans. Borrowers no longer have to go to the Pag-IBIG office to have their loan application approved since they can be approved right in Pueblo de Oro. Approval would only take a day or two as long as the documentary requirements are fulfilled while loan processing can be accomplished within seven days assuming that the house is already built.
PODC has also tied up with a bank to respond to postdated check requirements of Pag-IBIG, wherein buyers with no checking account can apply for one right at the PODC office. This is a one-stop-shop convenience that Pueblo customers can avail of in the processing of their loans and means faster turnover and occupancy for buyers who want to move into their units immediately.
Pag-IBIG’s recent development is that that loan amounts have now been raised from a maximum of P2-million to P 3-million and with lowered interest rates. In addition, Overseas Filipino Workers can instantly become qualified Pag-IBIG members eligible for a housing loans by paying up front an equivalent of 24 months contribution.
Pueblo and Pag-IBIG, a partnership which started 12 years ago, has been constantly improving its services, and will continue to provide efficient, convenient, reliable and faster financing without the hassle.
Banco de Oro
Ms. Hazel M. Golo
Account Officer
BDO-Cogon Branch
+63 (88) 859-2632 to 36
+63 (88) 857-3258
Metropolitan Bank & Trust Co.
Mr. Arman del Rosario
OIC - Retail Banking
Metrobank Corrales
+63 (88) 857-7791 to 92
PS Bank
Ms. Jacqueline G. Roa
Cagayan de Oro City
+63 (88) 857-4183
+63 (88) 857-5966
Rizal Commercial Banking Corp.
Mr. Norman Makapugy
Manager
Cagayan de Oro City
+63 (88) 858-2651