Phil. Veterans Bank launches Home Loan Free Home promo

Philippine Veterans Bank launched "Home Loan Free Home Promo", a promotion for real estate housing loan product (with a loan term of 20 years) with a cash back guarantee at the end of the term. This will run from March 1 to May 31, 2014.

Here are the qualified to avail of this promo and to be eligible for the promo, applications must be received within the promo period.

 -  Homeowners with existing mortgages of at least twelve (12) months in other banks who are of good standing.
-  New home-buyers including buyers of residential house and lots, townhouses, or condominiums.
-  Homeowners who wish to make major improvements or construction on their existing residential properties.

Check this out:

What is your interest rate?

8.25% p.a. repricing every 5 years.

How much can I borrow?

    Up to 80% of the appraised value of collateral property (house and lot, condominium, townhouse)
    Up to 60% of the appraised value if the collateral property is a vacant lot.

What is the maximum term of the loan?

20 years provided the borrower is not over 65 years old upon loan maturity.

Income requirement:

Minimum of Php40,000 per month for single and married with no dependents for every P1.0M loan.

How long does it take to process the loan?

Loan approval is 7-10 days working days for Metro Manila, Bulacan, and CALABARZON. For outside of these areas, targeted loan approval is within 15 days but is subject  to several factors including accessibility, availability of both credit appraiser and loan applicant, among others.

What are the fees I need to pay?

    Application Fee
    Processing Fee
    Notarial Fee
    MRI & Fire Insurance Premium
    Registration & Cancellation Fees

For complete list of requirements, go to or you may call us at (02) 857-3800 or (02) 902-1600. You may also email us at


Promo Description and Offer:

The Home Loan Free Home Promo is designed to entice homeowners to take up a housing loan with PVB and avail of the bankís cash-back guarantee.

Successful PVB Home Loans borrowers can avail of a 20-year loan term with the guarantee of a 100% return of the principal loan as long as the borrower is able to meet the promoís terms and conditions.


    Homeowners with existing mortgage loans with other banks for at least a year
    New home-buyers including buyers of residential house and lots, townhouses, or condominiums
    Homeowners who wish to make major improvements or construction on their existing residential properties

Promo Period:

The promo will run from March 1 to May 31, 2014. Home Loans applications must be received within these exclusive dates to be eligible for the promo.

Interest Rate:

The effective interest rate for successful borrowers who avail of the Home Loan Free Home Promo will be 8.25% per annum, fixed for five (5) years, thereafter subject to re-pricing every five (5) years.

Promo Mechanics:

Housing loan applicants need to apply for a PVB Housing Loan to be eligible for the Home Loan Free Home Promo. Application for the housing loan can be done at the Retail Banking Division (RBD) office in Makati City (G/F PVB Head Office ñ Rufino corner Dela Rosa Sts., Legazpi Village, Makati City) or at any of PVBís sixty (60) branches nationwide during the promo period.

Loan applicants may also visit the PVB website, click on the PVB Home Loan Free Home ad to be directed to the online application form. Applicants need to fill-out the online form completely, scan and upload/submit the pre-approval requirements. The submitted online application will be emailed directly to RBD for pre-processing. Only completely filled-out online applications will be entertained.

Upon application, the loan applicant fills-up the loan application form (available at RBD or at the PVB branch), submits the pre-approval requirements and pays the non-refundable application fee. The application will not be processed unless requirements are complete and the application fee is paid.

Upon approval of the housing loan, PVB will inform the applicant and he/she will be asked to visit the RBD office or PVB branch to sign the loan agreement and submit post-approval requirements. He/She will also have to pay all other applicable fees (processing fee, mortgage registration fee, notarial fee) and premiums (mortgage redemption insurance, fire/lightning/earthquake/AOG insurance). The borrower will then have to open a PVB Savings Account whereby the monthly amortization of the loan will be deducted from.

For pre-approved online applications, applicants will be asked to personally visit the RBD office or the nearest PVB branch in their area for the signing of the loan agreement and submission of original copies of both pre- and post-approval requirements.

For the borrower to receive 100% of his/her principal loan back at the end of 20 years, the following conditions must be met for the entire duration of the term:

          ï   No late or lapsed payment of amortizations and other dues (i.e. Mortgage Redemption Insurance, Fire Insurance premiums, etc.) for the duration of the term.

          ï    No pre-termination of the housing loan.

          ï    No pre-payment of the housing loan.

          ï  Loan is fully paid at the end of the term including all other dues. (i.e. Mortgage Redemption Insurance, Fire Insurance premiums,  etc.)

          ï    PVB Savings Account for the monthly amortization must be maintained for the duration of the loan term.

If the loan applicant fails to meet any of the conditions above, the loan will be treated as a regular housing loan and will be ineligible for the cash-back feature of the promo.

Upon completion of the term, PVB will credit to the applicant's savings account the amount representing his/her cash back equivalent to the principal loan.

Existing PVB housing loan clients are not qualified. However, existing PVB depositors and customers of non-loan products are eligible for the promo. PVB employees, their agencies and suppliers for the promo, and their respective relatives up to second degree of consanguinity or affinity are not eligible for this promotion.


The following need to be accomplished / submitted upon loan application:

    1. Housing Loan Application Form (available at the RBD office, PVB Branch or PVB Website).
    2. Valid Identification Cards (government-issued IDs such as SSS, Driverís License, PRC ID, TIN, passport; company ID)
    3. Marriage Contract (if applicable)
    4. Irrevocable Special Power of Attorney
    5. Health Declaration Form for MRI enrollment with PVBís insurance company
    6. Payment of Loan Application Fee (Non-refundable)

For locally-employed loan applicants:

    1. Certificate of Employment (CoE) indicating salary, position, status and length of service with present company
    2. Income Tax Return (ITR) for the recent two years

For self-employed loan applicants:

    1. DTI Registration of Business
    2. Articles of Incorporation / By-Laws / SEC Registration
    3. ITR & Financial Statements for the last two (2) years
    4. Bank Statements for the past six (6) years
    5. List of Trade References (at least 3 major suppliers / customers)
    6. Photocopy of Lease Contracts, and TCT (if income source is rent)

Collateral Documents:

    1. Clear Copy of Ownerís Duplicate Copy of TCT / CCT
    2. Lot Plan & Vicinity Map Certified by a Geodetic Engineer
    3. Photocopy of Tax Declaration on land & improvement
    4. Contract to Sell from Developer stating the contract price & ledger
    5. Original copy of Certificate of Good Credit Standing from the Homeowners Assoc. or Condominium Corp.

For Refinancing of Existing Mortgage Loan:

    1. Statement of Account from the Mortgage Lender
    2. Proof of Payment for the past six (6) months

For Construction Loans:

    1. Building & Floor Plans (complete set)
    2. Bills of Materials / Specifications / Cost Estimates


    1. Original Ownerís Duplicate Copy of TCT / CCT
    2. Certified True Copy of the latest Realty Tax Declaration on land and improvement under the name of the borrower / mortgagor
    3. Original Tax Clearance
    4. Photocopy of real estate tax receipts (Full Year 2014)
    5. Fire / Lightning / Earthquake Insurance Coverage (as applicable)

Still canít believe that the Home Loan Free Home promo offer is true?
Get in touch with us to know how you can own your own home for free at the end of your 20-year loan term!
Trunkline Numbers:
(02) 857-3800
(02) 902-1600
Fax Number:
(02) 902-1666

Please note that our Home Loan Free Home Associates will only be able to receive live calls Mondays ñ Fridays from 7:30am to 6:00pm. Outside of those hours, please leave your name and contact details at the voicemail tone and weíll get back to you as soon as possible.

You can also : 
Email via
Like  Facebook: PVB Home Loan Free Home
Follow  Twitter: @PVBHomeLoan

You may also visit any of PVBís 60 branches nationwide during banking hours and speak with our bank officers or staff on how to join the Home Loan Free Home Promo.

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