EXAM: Mortgage Loans

Employee Number

Last Name

1. The minimum amount due for Home Loan is interest plus principal

• True
• False

2. Which of the following loan purpose for Home Loan but not for Home Credit Line?

• a. Refinancing
• b. Construction
• c. Equity
• d. None of the above

3. If the loan purpose is acquisition (non accredited developer), the TCT and Tax Declaration must already be in the name of the Borrower before the loan is released.

• True
• False

4. A collateral for the Home Loan must be residential and owner – occupied

• True
• False

5. A vacant lot may be accepted as collateral for credit line regardless of loan purpose

• True
• False

6. The maximum loan term for Home Loan is:

• a. 1 year
• b. 25 years
• c. 20 years
• d. depends on the loan purpose and collateral

7. A Home Loan is repaid by paying principal and interest in equal monthly amortizations until fully liquidated.

• True
• False

8. The maximum loanable amount for Home Loan and Home Credit Line are:

• a. P25 & 20MM
• b. P5 & P20MM
• c. P20 & P10MM
• d. P25 &P5 MM