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Requirements
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Requirements
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Why should I apply for OPHL?
✓ Apply and manage your loan from Singapore
✓ The only institution who can pay your purchased property in the Philippines
✓ Open to Filipinos, Locals, and Foreigners
Why should I apply for OPHL?
✓ Apply and manage your loan from Singapore
✓The only institution who can pay your purchased property in the Philippines
✓ Open to Filipinos, Locals, and Foreigners
Partner Developers
More than 300 accredited developers within the Philippines
Partner Developers
More than 300 accredited developers within the Philippines
Contact Us
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304 Orchard Rd #03-02 to 07 Lucky Plaza Shopping Centre, Singapore 238863
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67374646 (office)
98249014 (mobile)
(9am-7:30pm, except weekends and holidays)
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Contact Us
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304 Orchard Rd #03-02 to 07 Lucky Plaza Shopping Centre, Singapore 238863
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67374646 (office)
98249014 (mobile)
(9am-7:30pm, except weekends and holidays)
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Frequently Asked Questions
Frequently Asked Questions
✓ No attorney-in-fact
✓ No remittance charges needed
✓ Loan payment in USD/SGD (booking in PNB SG in USD terms)
Loanable Amount for Filipinos:
✓ Up to 80% of selling price or CTS for properties from accredited developers
✓ Up to 80% of appraised value the property for loan of house and lot
✓ Up to 80% of appraised value of bills of construction materials if purpose of loan is for house construction
✓ Up to 60% of appraised value of lot if loan is purchased of lot only
✓ Subject to Buyer’s Capacity to Pay (BCP) whichever is lower
Loanable Amount for Foreigners:
✓ Up to 70% of selling price or CTS for properties from accredited developers
✓ Up to 70% of appraised value the property for loan of house and lot
✓ Up to 70% of appraised value of bills of construction materials if purpose of loan is for house construction
✓ Up to 60% of appraised value of lot if loan is purchased of lot only
✓ Subject to Buyer’s Capacity to Pay (BCP) whichever is lower
Eligibility
- Filipinos residing and working in Singapore
- Applicant/s must have worked in Singapore for at least three (3) years
- Natural-born Filipinos residing and working in Singapore who have lost their Filipino citizenship (limited to the purchase of up to a maximum lot area of 1,000 sqm only).
- Foreigners, but limited to the acquisition of condominium units only.
- Borrower’s gross annual salary should be at least SGD 48,000.00
- Total Debt Servicing Ratio must not exceed 60% of Gross Monthly Income
- Maximum Loanable Amount is 80% of selling price for properties acquired from accredited developers or appraised value and 70% for non-Filipinos.
- Property must be located in any key areas in the Philippines
On Applicant:
- Singapore issued Identification Card
- Passport
- Latest two (2) years Income Tax Return (ITR) from the Inland Revenue of Singapore (IRAS)
- Pay slip for the last two (2) months
- Certificate of Employment stating salary rate, position and length of employment
- Bank Deposit Statements and Loan Account(s) Statement (ie Housing, Vehicle, Credit Cards, Cash/Personal Loans with outstanding balance (if applicable) for the last three (3) months
- Marriage Contract (if applicable)
- Latest Passport size picture
- Credit Bureau Report from Credit Bureau Singapore. log on to www.creditbureau.com.sg (yearly submission)
- Duly filled-up OPHL Application For
- A non-refundable processing fee of USD150.00 will be collected once the processing of the loan application starts
Acquisition from accredited developers:
- Copy of Contract to Sell(Notarized)
House construction or renovation:
- Bill of materials and estimates of construction and labor cost and floor and building plan and building specifications signed by Civil Engineer or Architect
