A. Guidelines and initial requirements:

  1. Loanable amount is 70% of the appraised value. 30% will be shouldered by the member, as equity. Maximum loanable for a borrower is P6M.
  2. Interest is 8% per annum (diminishing computation) , subject for re-computation after 3 years.
    Maximum repayment term is 10 years.
  3. Charges:
    1. Fixed Processing fee of P3,000
    2. Appraisal fee/inspection fee
    3. Miscellaneous fees (Mortgage fee, Documentary Stamp, Real Estate Mortgage Registration Fee, BIR Fee/ROD Fee)
    4. Loan guarantee fund: Credit Life Insurance (depending on amount of loan)
  4. Proceeds if approved will be in check, payable to the developer/seller.
  5. Payable thru Post Dated Checks or Salary Deduction

B.  Eligibility:

  1. At least 6 months Coop member
  2. With at least P100k shares.

C. For Assessment:

  1. 2 latest payslips
  2. Loan Form
  3. Photocopy of Company ID

D. Documentary Requirements:

  • Copy of any Government Issued ID
  • Affidavit of Marital Consent
  • Promissory Note (for filing/annotation of Real Estate Mortgage)
  • Real Estate Mortgage Agreement Form (in 5 copies, notarized), to be provided by COOP
  • TCT (Transfer Certificate of Title)
  • Latest Tax Receipts and Tax Declaration
  • Residence Certificate
  • Marriage Contract (If married)
  • Lot Plan, Vicinity Map
  • Floor Plan of the House to be Constructed (if applicable)
  • Deed of Sale/Contract to Sell
  • Insurance in favor of JFC COOP

E. Forms

Note: COOP may request for additional documents such as additional income, spouse’s payslips, bank account details, and any other documents that may be needed in assessing your application.  The member may also be required to have a Checking account.  All other fees not mentioned above, but were charged in relation to processing of the application, shall be shouldered by the member.