Step 5: Loan Approval

Once the Loan Application is approved, the client shall send the Bank Guarantee from the Bank or the Loan Approval from PAG-IBIG/ HDMF.

Other bank charges must be also settled.

FOR FINANCING: Comply with the following at least 6 months before your final payment due:

  • Bank Loan: Bank Guarantee, payment of bank charges thru financing bank
  • PagIbig/HDMF Loan: Notice of Approval, Financing Charges paid thru CDC Cashier
  • Settle any outstanding amount (DP, Other Charges, Miscellaneous Fees, Association Dues, RPT, etc.) not covered by the loan approval (This will be charged by the developer)

NOTE: Late release of loan proceeds will result to 12% interest and penalties for collection upon full receipt of payment. The mere compliance of documents DOES NOT mean payment of outstanding balance. The actual crediting of payment to the developer on or before the due date of the schedule of payment.

Frequently Asked Questions

My loan application was not approved by the Bank/ HDMF, what should I do?

If this is a credit issue – find a co-borrower to increase the financing capabilities of the buyer.  If you have an outstanding balance with any credit card/ or unsettled previous loan, please provide your clearance from the previous loan to have your new housing loan approved.  It is the client’s commitment to ensure his/her credit approval to avail the loan.

What will happen if my Loan Approval is less than the approved loan?

Additional equity must be settled prior to the financing balance and before the move-in of unit.  The developer will impose interest for any late settlement of fees after the due date of financing.    

What are the Additional Bank Fees being charged to me?

Banks will be requiring a certain amount of deposit prior to release the letter of guarantee to the developer.  The banks will also ask for the client to pay for but not limited to the: MRI, Fire insurance, Handling Fee, Registration Fee & Miscellaneous Fee which will be estimated around 1% to 2.5% of the client financing loan balance.


When is my Final Payment / Loan Take Out due date?

It is reflected on your Schedule of Payment and if the building is 90% substantially completed.

I already applied for a loan and I have a Bank Guarantee/Pag-Ibig loan approval, is my account fully paid?

No, Bank Guarantee and Pag-Ibig loan approval are just documents stating your approved loan. Full payment is still upon deposit/clearing of the actual loan proceeds from your financing institution to CDC’s bank account.


24/F 139 Corporate Center

Valero Street, Salcedo Village

Makati City, Philippines

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