Business: BPIs 3-day ‘Housing Madness’ Showcase at Robinsons Starts

The Bank of the Philippine Islands (BPI) Family Savings Bank (BFSB) will hold a three-day Housing Madness showcase with 10 partner developers at Robinsons

Place starting today, April 20 until April 22.

Now on its 4th year in Bacolod, the Housing Madness partners with top real estate developers to grant clients the best housing loan deals with guaranteed low rates.

THE PANELISTS DURING THE 4TH BACOLOD HOUSING MADNESS: (from left) Ramon Noel Altamirano, BFSB vice president and head of product marketing; Jose Teodoro Limcaoco, BFSB president; and Jocelyn Sta. Ana, BFSB senior vice president and head of its Retail Mortgage Division.* (H. James G. Toga/NDB)

Negrenses aspiring to own their dream houses will get to choose the best deals and special offers from developers, namely, Ayala Land Inc., AVIDA Land Corp., Amaia Land Corp., Dynamic Properties and Realty Corp., Furen Land and Housing Devt. Corp., BAPA Realty Development Corp., Communities Negros Occ. Inc. (Camella), AFP MBAI Corp., Philippine Diversified Development Corp., and Home Invest Realty Ventures Inc.

Jocelyn Sta. Ana, BFSB senior vice president and head of its Retail Mortgage Division, said applicants whose household net income is at least P40,000 can qualify for the housing loan.

Sta. Ana, in a press briefing yesterday, said applications and loans received during the 3-day event are guaranteed with low interest rates: 5.7 percent for one year, 7.5 percent for 2 to 3 years, 7.88 percent for 4 to 5 years, and 9.75 percent for 6 to 10 years.

During the Housing Madness, housing loan clients can avail the following: (1) special rates, exclusively offered at this event, which translate to low monthly amortizations, (2) loan as much as 90 percent of the selling price and (3) waived appraisal and processing fees if property is purchased from any of the accredited developers.

Borrowers whose loan applications have been approved and availed will also get a Free BPII Express Credit Gold MasterCard. Clients can also have the benefit of a fast 5-day loan decision upon submission of complete loan documents.

Jose Teodoro Limcaoco, BFSB president, who was also at the press briefing, said, "Our Housing Madness provides our clients with ease and convenience as we gather under one roof the best developers who have projects in the Negros region."

"As a bank that understands the primary needs of every Filipino, we create the best value for them through our special rates and payment schemes. With faster turnaround, it will be very convenient for clients to apply for a loan," he said.

Limcaoco said BFSB also introduces to Negrenses its new housing loan variant, the Housing Loan Pay Break or "Ang Housing Loan na may Pay-Hinga," - a one-of-a-kind housing loan product that gives you a month of reprieve every year from your monthly amortization.

The Housing Madness showcase at Robinsons Place is the first of a series of housing madness events for the year, and Bacolod is our first priority, Sta. Ana said.

Limcaoco said BFSB is confident in investing because of Bacolod’s strong economy, citing its dramatic growth in the business process outsourcing (BPO) industry, tourism, and remittances of overseas Filipino workers (OFWs), as well as the infrastructures development.

"We are very positive about our prospects in Bacolod," Limcaoco said, adding that since their Housing Madness showcase started in Bacolod three years ago, they only have 3 percent Past Due Rate.

Limcaoco said the mortgage growth since last year has climbed to 14 percent, as BFSB remains the "largest home loan" company in the country.

Joining Limcaoco and Sta. Ana at the press briefing in 21 Restaurant yesterday was Noel Altamirano, BFSB vice president and head of product marketing.*