Frequently Asked Questions: HOME EQUITY Loan
- What is Home Equity Loan?
Home Equity Loan (“Loan”) is a type of mortgage loan facility wherein Borrowers can use their existing real property with clean title (i.e., not mortgaged or otherwise encumbered and is in the name of the borrower) as collateral to secure the payment of the Loan. Loan proceeds may be used for various purposes, e.g. buy a new car, expansion of business, or as ready working capital for business.
- What collateral is accepted for a Home Equity Loan application?
- House and Lot
- Lot only
- Appraisal Fee (to be paid first by the borrower upon application and will be subject to a 100% rebate once the loan proceeds are released)
- P3,000 for Greater Metro Manila Area
- P5,000 for provincial area
- EastWest Bank Customer Service fax number 830-8900 or 830-8911
- Any EastWest Bank branch
- EWB Mortgage Loan office located at
EastWest Bank Mortgage Sales Department
G/F EastWest Bank Building
2264 Pasong Tamo Extension
- Email scanned copy to email@example.com
- Issuance of Post-Dated Checks (PDCs) in favor of EastWest Bank
- Opening or enrolment of an EastWest Bank Account for an Auto-Debit Arrangement.