BPI has announced a new all-in financing housing loan payment solution that aims to make the dream of home ownership more achievable for Filipinos, even during these extra challenging times. Housing loan clients now have an option to include upfront fees and charges into the loan amortizations.
“With all-in financing, it will be easier for housing loan clients to finally have their own homes,” said Dennis Fronda, BPI Head of Retail Loans. “Clients have less to worry about because the fees and charges, which is about 3% of the total loan amount, is folded into the monthly amortizations and spread throughout the loan term.”
Recognizing the financial hardships experienced by most Filipinos due to the prolonged COVID-19 pandemic, BPI has been developing new products and promotions to help them manage their cash flow while pursuing their dreams of home ownership.
Fronda said that the BPI All-In Financing will give housing loan clients a new level of financial comfort. Considering the average housing loan amount of P3.5 million, it will spare them from having to cash out an average of P105,000 upfront.
“For the many Filipinos, this will go a long way in helping them manage their budget,” said Fronda.
Loan amortizations will be automatically paid through the client’s auto-debit arrangement (ADA) account with BPI for a safe and hassle-free experience.
As the country continues to slowly recover from this pandemic – with the steady decline in new cases recorded daily, and more Filipinos gaining access to vaccines, BPI anticipates improved consumer confidence in applying for housing loans.
As of October year-to-date, the bank has noted an increase in applications and regular housing loan releases. With more Filipinos seeking for the right partner to help finance their dream homes, BPI actively provides solutions such as All-In Financing to help make home ownership more convenient and achievable.
BPI’s All-In Financing for housing loans is now available in all BPI and BPI Family Savings Bank branches nationwide.
Earlier this year, BPI pioneered the all-in-one multi-year Auto Loans with Insurance and also offered collateral-free loans to Philippine SMEs.
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Source: Good News Pilipinas
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