If it’s home loan we’re talking about, the first thing that comes to mind is Pag-IBIG. If this is the first time you’re hearing this, Pag-IBIG is a government-controlled institution that aims to aid workers have affordable shelters for them and their families. Since it’s their main role to help Filipinos, they are the “go-to” organization when it comes to housing. What most of us forget to consider is that they’re not the only institution that accommodates these types of requests. Banks also approve housing loans as well, if you did not know that. The LandBank of the Philippines, is one of the banks that have better loan programs.
Overseas Filipino Workers (OFWs), Government employees, and people who work in the private sector can apply for LandBank’s Home Loan.
Although LandBank’s home loan program is open to those eligible, factors are different from those working outside the country and those who are employed here. For OFWs, they have the Bahay Para sa Bagong Bayani Program (3B Program). For government, businessmen, and private sector workers however, they have the Easy Access to Shelter You (EASY) Home Loan Program/Gintong Pabahay Program.
Does LandBank’s Home Loan program differ? If they are, what are the differences?
To be straightforward, there is little difference between the two. The reason why LandBank has this program is that the HDMF loan program is a bit hassle for OFWs given the fact that they’re away. However, in order for me to successfully portray what the differences are, let me give you everything you need to know about LandBank’s home loan program which is;
Let’s start with the basics first; let’s find out who are eligible in getting the EASY home loan, the borrowing capacity, and the purpose of the loan:
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Greetings from Edmonton, Alberta!!
Dear M’am/Sir,
I just want to ask if I can use my house and lot under Tax Declaration as my collateral. I am planning to apply a housing loan for OFW program since I am working here in Canada as a permanent residence status.
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Greetings from Edmonton, Alberta!!
Dear M’am/Sir,
I just want to ask if I can use my house and lot under Tax Declaration as my collateral. I am planning to apply a housing loan for OFW program since I am working here in Canada as a permanent residence status.
Thank you,
Arthur Cayang-o
OFW