868-649-5683 | 4507 | 6253 palseccu@gmail.com

Mortgage Loans

Mortgage Loans

The following conditions will apply:

  • The applicant shall be a member of the Credit Union for at least one (1) year
  • The member shall have at least 20% of the amount required in unpledged shares before a first mortgage loan can be granted or 30% for a second mortgage loan
  • The maximum loan granted to firs time mortgage applicants are  One Million, Five Hundred Thousand Dollars ($1,500,000.00), In the case of Second time mortgage applicants a maximum of Five Hundred Thousand Dollars ($500,000.00).
  • All mortgages are required to be covered by Insurance
  • Repayment period for mortgage (Property) should not exceed Twenty-Five years (25yrs).
  • BIR number 

Repayment Period:

  • 1st Mortgage – 25 years
  • 2nd Mortgage – 15 years

*All interest rates are calculated as one percent (1%) on the reducing balance.

*Further information may be required by  Management depending on the particulars of each loan.