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Property Information - Pre-Qualification Process Step
Property Information - Pre-Qualification Process Step
Tessa Arimado avatar
Written by Tessa Arimado
Updated over a week ago

Property information

Property Value (Php)

The amount of the property you are planning to buy. Enter the amount in number / digits only. For example, for a Php4,300,000 property, enter 4300000.

Property Type

This is used to describe the type of property being purchase. For example, a condominium, house and lot, vacant land, etc.

Property Status

  • Foreclosed: Is where a bank has repossessed a property from its previous owner and is selling it to cover the cost of the remaining home loan balance.

  • Pre-Selling: When you purchase a condo or house at the pre-selling stage, this means it is currently under construction or being planned.

  • Ready For Occupancy (RFO): Is a property that is fully constructed and ready for the new owner to move-in.

  • Reselling: Is where you are buying an existing property from the owner. The property is not sold by the original property developer, but instead the current owner of the property.

  • I Own It - Refinancing Loan: Is where you move your existing home loan to a new bank - usually for a better interest rate. Your new bank will pay out the balance of your home loan to your old bank.

  • New Construction: Is when you are building a new home from scratch. Typically the borrower would have the land already. But in some cases the borrower can lend the value of the vacant lot plus the cost of the construction.

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