Under Construction Loan

Customers purchasing properties at projects partnered with VIB may be considered for a loan of up to 80% of the collateral value, with a loan term of up to 30 years. This allows customers to manage their financial resources effectively and reduce their monthly repayment burden.

The actual loan amount and loan term will be determined based on the policy applicable to each project, the collateral value, the customer’s financing needs, age, income, and repayment capacity.

VIB offers a range of interest rate packages with different preferential or fixed-rate periods, allowing customers to select an option that suits their financial needs and repayment plans.

For projects offering interest subsidies from the developer, customers may receive additional benefits such as interest subsidies, a principal repayment grace period, or preferential early repayment fees, subject to the specific policy of each project.

VIB will provide customers with full details of the applicable interest rate, preferential period, and relevant terms and conditions before the credit agreement is signed.

A typical home loan application may include:

• Personal identification documents of the customer and co-borrower, if applicable;
• Documents demonstrating the customer’s income and repayment capacity;
• The deposit agreement, sale and purchase agreement, or other documents relating to the property to be purchased;
• Documents demonstrating the customer’s available funds or equity contribution;
• Other supporting documents depending on the specific characteristics of the loan application.

A VIB relationship manager will provide detailed guidance on the documents required based on the customer’s profile and income sources, such as salary, business income, rental income, or other lawful sources of income.

The processing time depends on the completeness of the application, the characteristics of the customer’s income sources, the collateral, and the policy applicable to each project.

To facilitate a smooth appraisal and approval process, customers should provide complete and accurate documents in accordance with VIB’s guidance. A VIB relationship manager will assist the customer and provide updates throughout the loan application process.

The loan will be disbursed based on the payment schedule specified in the sale and purchase agreement, the policy applicable to each project, and the conditions agreed upon in the credit agreement.

Before each disbursement, the customer must complete the required equity contribution and provide all necessary documents and supporting evidence in accordance with VIB’s guidance. The loan proceeds will be transferred directly to the developer or the designated beneficiary in accordance with the relevant agreements and VIB’s regulations.

Note: The loan amount, loan term, interest rate, and benefits stated above may vary depending on the specific project, the customer’s application, and VIB’s policies from time to time.