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Philippine Finance Banks Loans Mortgages
Real Estate Trends
For Buyers Sellers Developers Builders Bankers Brokers Agents
• Philippines Real Estate Mortgage Loans
Typical Philippine real estate mortgage loan annual interest rates are
anywhere from 7% to 9% with the Philippine banks currently, and 10%
to 15% plus with the Philippine real estate developers
and their projects. Check with the Philippine Central Bank for more indications of lowering or raising of Philippine interest rates on how they affect the Philippine bank loan rates.
• Philippines Mortgage Loan Terms
Typical financing term
period on mortgage loans is 1 to 10 years. When applying for a loan
from a Philippine lender, provide copies of your
asset, debt, income statements and two years tax
returns.
• Philippines Escrow Services
Philippine banks are the common entities to setup an escrow for transacting Philippine real estate transactions. Contact the Philippine banks listed below and compare their costs.
• Philippine Real Estate Sales Transaction
& Closing Costs
Buyers transaction or closing costs include the
following. Documentary Tax - P5.00 per P1,000
of contract price, or zonal value or fair market
value, which ever is higher. Transfer Tax - P5.00
per P1,000 of contract price, or zonal value or
fair market value, which ever is higher. Registration
Fee - P1.50 per P1,000 of contract price, or zonal
value or fair market value, which ever is higher.
The seller is responsible for transaction closing cost of capital gains tax.
• Philippine International Banks
Citibank Philippines
HSBC Hong Kong Shanghai Bank
Standard Charter Philippines
• Philippine Domestic Banks
Banco de Oro
BPI Bank of the Philippine Islands
Metrobank
Unionbank
• Philippine Economy Investments & Business
Agriculture Philippines
Best Asia FX Broker World Finance Award
Rich Dad Pinoy - New School Financial Intelligence
Philippine Stock Market Picks
Business Mirror Philippines
Makati Business Club
Philippine Business
Philippine Daily Inquirer
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