Homecredit

HomeCredit Mutual Building and Loan Association operates in the Philippines with a focus on providing home ownership solutions for employees and executives. Formerly known as La Salvacion Sociedad Mutua de Construccion y Prestamos, the institution is a wholly owned subsidiary of The Insular Life Assurance Company Ltd and is regulated by The Home Guarantee Corporation. The company began operating in 1996 and today serves a substantial number of corporate clients, aiming to ease two common barriers to home ownership: the initial cash requirement for down payments and the ongoing affordability of loan amortization.

A key offering is a Systematized Equity Build-Up Plan, designed to help members accumulate down payment funds through a convenient salary deduction scheme. This approach is described as delivering competitive yields and providing additional loan capacity beyond what many banks offer. The equity requirement for members through this plan is highlighted as roughly 15% of the purchase price, compared with higher requirements often seen at other financial institutions.

HomeCredit also provides Affordable Housing Loans that enable employees to identify and acquire homes with stable interest rates over extended terms, up to 20 years. Financing options cover homes, lots, and renovation packages within the company’s coverage area. In addition, the Rent-to-Own program is offered, giving members the chance to rent homes at affordable rates with the option to convert into loan payments later. This program also provides insurance coverage during the rental phase and aims to minimize initial cash-out requirements for move-in.

Overall, HomeCredit positions itself as a practical pathway to home ownership for employees, combining tailored financing plans with flexible purchase options and regulatory oversight to support long-term housing stability.