How to Finance Your Home at Narra Park Residences

Some people are lucky enough to be able to purchase a house outright. The vast majority of us, however, need a little help in financing our home purchase.

The good news is that there are many options available to would-be homeowners. Find out which one is right for you!

Bank Loan

If you have a solid credit history, a bank loan might just be your best bet. Your good credit standing will usually net you favorable interest rates, which can save you thousands of pesos over the term of your loan.

Please note that banks require a collateral to serve as a guarantee against the loan—in this case, that would be the title to the house itself.

NOTE: The figures and requirements given below are just indicative—please get in touch with your chosen bank for exact details.

Fast Facts

Loan Amount: Minimum of P300,000 and up to 90% of the total property value

Loan Term: 5-20 years

Interest Rate: 4.9%-8% per annum


  • Must be a Filipino citizen
  • Must be 21-65 years old
  • Must be gainfully employed for at least 2 years
  • If self-employed, business must have at least 2 consecutive years of profitable operation
  • Must meet the minimum salary requirement stipulated by the bank


Again, different banks will have different documentary requirements, but most will ask for the following:

For Employees:

  • Duly accomplished loan application form
  • 1-2 valid government-issued IDs
  • Marriage contract (if applicable)
  • Proof of income (pay slips, income tax returns, certificate of employment)
  • Bank statements

For Self-Employed:

  • Business registration papers (DTI or SEC registration/Articles of Partnership or Incorporation)
  • Audited financial statements
  • Income Tax Return with Statement of Assets and Liabilities (SAL)
  • Bank statements
  • List of suppliers and clients

Collateral Documents

  • Transfer Certificate of Title (TCT)

Pag-IBIG Housing Loan

Those who want a longer payment period for their mortgage should take a look at Pag-IBIG Housing Loans, which are payable for up to 30 years.

Fast Facts

Loan Amount: Up to P6,000,000

Loan Term: 1-30 Years

Interest Rate: 5.5%-10% per annum


  • Must be a Pag-IBIG member with at least 24 monthly contributions (NOTE: May be paid as a lump sum, but you need to be a contributing member for at least 12 months.)
  • Not more than 65 years old and not more than 70 at loan maturity


  • Duly accomplished Pag-IBIG Housing Loan application form
  • Proof of income
  • 1 valid ID of the principal borrower and spouse
  • Certified true copy of the Transfer Certificate of Title (TCT)
  • Updated tax declaration and real estate tax receipt
  • Contract-to-sell between buyer and seller
  • Vicinity map of the property

Home Ownership Made Easier (H.O.M.E.) Loan

Want hassle-free approval for your home financing? Consider getting in-house financing directly from the real estate developer instead. In this arrangement, you won’t need to rely on third-party institutions or comply with stringent application requirements.

For a limited time only, Nurtura Land & Home will offer in-house financing for Narra Park Residences through its Home Ownership Made Easier (H.O.M.E.) Loan. This promo is open to all house and lot units in Narra Park Residences, except for units in Block 2 and all bundled lots. Check out the details below:

Fast Facts

Loan Amount: Up to 95% of the total property value

Loan Term: 5-10 years

Interest Rate: 8-10% per annum


  • Filipino of legal age, but not more than 65 years old upon loan maturity
  • With dependable and verifiable source of income
  • Employed with a reputable company for at least 2 years
  • Monthly amortization should not exceed 30% of gross monthly income
  • No adverse credit findings like pending court cases, bounced checks, unpaid loans, cancelled credit cards, etc.


All applicants are required to submit the following:

  • Photocopy of one (1) valid government-issued ID of principal buyer, spouse, and co-borrower (if applicable)
  • Photocopy of Marriage Contract (if applicable)

For employees:

  • Certificate of Employment (COE)
  • Three (3) latest pay slips
  • Three (3) latest Income Tax Returns (BIR Form 2316)
  • Bank statements/passbook for the last six (6) months

For OFWs:

  • Photocopy of Philippine passport
  • Certificate of Employment (COE) with compensation package or latest employment contract (with English translation if in a foreign language)
  • Bank statements/passbook for the last six (6) months
  • Proof of income remittances/allotment with any local bank in the last three (3) months
  • Consularized SPA/Sworn Statement (if applicable)

For Self-Employed:

  • Company Profile
  • DTI Registration or Articles of Incorporation/Partnership (if applicable) and By-Laws
  • Mayor’s Permit/Business Permit
  • ITR and Audited Financial Statements for the last two (2) years and proof of tax remittances
  • Bank statements/passbook for the last six (6) months
  • List of trade references with contact details

Fast track your application

Before we close this piece, here’s a few tips that will help you get approved for a home loan:

Prepare the down payment

Homebuyers typically shell out a 10%-25% down payment on the property’s total contract price, then make up the difference through home financing options. Having the down payment ready demonstrates your financial capacity to lenders and makes you more likely to be approved for a loan.

Ready all your documents

Countless financing applications have been rejected not because of the lack of financial capacity but due to incomplete paperwork. Before submitting your application, make sure that all documentary requirements are in order—it can save you months of back-and-forth with the lender.

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