Merrydale Homes

 

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Preparing for Homeownership:

A Quick Guide for Prospective Buyers

Owning a home is one of the biggest moves you can make. It is a long-term commitment that requires you to prepare your budget and home maintenance skills.

Here are some tips that you may think about:

  1. Inquire and Research. Learn more about Merrydale Homes by visiting the website and official Facebook page. Send us a message online and we will refer an accredited agent for you who may give you more information about the project. You might also want to know more about PAG-IBIG documentation and requirements to understand what you need to prepare before reservation.
  2. Site Visit. Aside from digital research, we recommend that you book a tripping with our accredited agent to physically visit the site and view the house model.
  3. Reservation Process. Once you’ve made a decision, inquire how you may reserve a unit.
  4. Down Payment Period. Make sure that you are able to pay your monthly downpayment and submit all the documents needed to process your account with PAG-IBIG.
  5. Loan Approval and Monthly Amortization.When you loan is approved by PAG-IBIG, your monthly amortization will start. Make sure to pay the monthly dues on time.
  6. Move In. Prepare for the move-in by knowing more about your new home, ways to commute, etc. It would be great to join the community activities by inquiring from your home owners association.

You must have the following to qualify for the loan:

  • At least twenty-four (24) monthly membership savings (a lump sum payment of the required monthly membership savings is allowed);
  • Age of not more than sixty-five (65) years at the date of application and not more than seventy (70) years at maturity of the loan;
  • Legal capacity to encumber real property;
  • Ability to pass satisfactory background / credit and employment / business checks of Pag-IBIG Fund;
  • No outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of the loan application;
  • No Pag-IBIG Housing Loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago.
  • If with an existing Pag-IBIG Housing Loan as a principal buyer / borrower or co-buyer / co-borrower, the account must be updated.
I. FOR ADVANCE EVALUATION AND TECHNICAL APPRAISAL

  • FOR BORROWER
    1. Housing Loan Application with recent ID photos of borrower/co-borrower (if applicable) (2 copies, HQP-HLF-068/069)
    2. Proof of Income (see details at the back)
    3. One (1) valid primary ID (photocopy, back-to-back) of Principal Borrower, Co-Borrower, and Developer’s Authorized Representative and Attorney-In-Fact, if applicable. The same ID must be presented during the conduct of borrower’s validation.

    FOR DEVELOPER
    1. Letter Request for Advance Evaluation and Technical Inspection
    2. Softcopy of Borrower’s Profile
    3. Transfer Certificate of Title (TCT)/Condominium Certificate of Title (CCT) in the name of Developer or land owner, in case of Joint Venture
    4. Updated Tax Declaration and Updated Real Estate Tax Receipt (photocopy)
    5. Pag-IBIG Fund Receipt for payment of Processing fee (photocopy)

II. FOR HOUSING LOAN APPLICATION

    1. Notarized Developer’s Sworn Certification (HQP-HLF-062)
    2. Transfer Certificate of Title (TCT)/Condominium Certificate of Title (CCT) with Deed of Assignment of CTS with SPA (With Buyer’s Conformity) duly annotated thereon (photocopy)
    3. Updated Tax Declaration and Updated Real Estate Property Tax Receipt (photocopy)
    4. TCT/CCT with Deed of Assignment of CTS with SPA (With Buyer’s Conformity) duly annotated thereon (Owner’s Duplicate Copy)
    5. Mortgage Documents
      1. Notarized Deed of Assignment of CTS with SPA (With Buyer’s Conformity) duly registered with Registry of Deeds and bearing the original RD stamp (HQP-HLF-523)
      2. Contract-to-Sell (HQP-HLF-161)
      3. Duly accomplished/notarized Promissory Note (HQP-HLF-086/087)
      4. Pre-signed Deed of Absolute Sale (HQP-HLF-525)
      5. Pre-signed Disclosure Statement on Loan Transaction (HQP-HLF-085)
      6. Pre-signed Loan and Mortgage Agreement (HQP-HLF-162/163)
    6. Notarized Certificate of Acceptance (HQP-HLF-083)
    7. Borrower’s Validation Sheet (HQP-HLF-058)
    8. Documentary requirements submitted during the advance evaluation and technical inspection (Refer to Item I)

You may check this complete list of documents needed by PAG-IBIG

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