PNB targets Fil-Americans with home loan product

PHILIPPINE NATIONAL Bank (PNB) teamed up with New Jersey-based Alexander Anderson Real Estate Group (AAREG) to boost their marketing efforts for US-based Filipinos who are interested in securing loans to buy residential homes in the Philippines.

“We are making it easier for them to obtain a good investment while they are still in the US. We see those in the New York metropolitan area remain to be interested in these investments despite the COVID-19 pandemic,” PNB President and CEO Jose Arnulfo A. Veloso said in a statement.

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PNB offers an Own a Philippines Home Loan. It tapped AAREG as its first marketing partner for the loan.

Mr. Veloso said PNB has seen a growing number of Filipinos who are interested in acquiring homes in the Philippines. “Many Filipinos work hard building their careers outside the country and would like to return to their roots,” he said.

Filipinos and those with dual citizenship can purchase land and real estate property in the Philippines. While foreigners are prohibited from owning land in the Philippines, they can legally own a condominium unit for their residence.

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Article and Photo originally posted by Business World last June 29, 2021, 12:02am.

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