Own • Make • Grow
A smarter way to buy your home and build your future.
About the Financing
OMG is designed for young professionals, couples and families or individuals beginning their homeownership journey.
It combines home ownership and investment so you can grow faster, smarter and with confidence. OMG allows you to own your own home, make more from your money and grow towards your future.
One Decision. Multiple Benefits.
Who Can Apply
Option 1
Standard OMG Mortgage
Any individual purchasing a property within a development financed by Home Mortgage Bank qualifies for a preferential rate of 4.75% per annum.
Option 2
OMG Mortgage Plus Investment
Any individual purchasing a property within an HMB-financed development, who also invests in HMB’s Mortgage Participation Fund (MPF) or Samaan Tree Fund (STF), enjoys a further rate reduction.
Minimum investment:
$5,000
Monthly contribution from:
$250
Option 3
Open Market Mortgage with Investment
Any individual obtaining open market mortgage financing, who invests in the MPF or STF (minimum investment $5,000, minimum monthly contribution $500), qualifies for a preferential rate of 4.95%. Rate is reviewed annually.
*As with all mortgages, OMG Mortgages are subject to normal lending criteria.
Why it Works
OMG Mortgages bring together two financial goals that most people tackle separately and make them work together for you. You are building equity in your home and simultaneously accumulating financial assets.
Additionally, the MPF and STF perform above market at 3% and 3.5% respectively and offer superior terms unique in the local market. Pay them a visit to better understand how powerful an OMG Mortgage is.
Key Features
Loan Tenure
Up to age 70
Loan-to-Value
Up to 90% of market value; up to 100% of sale price where the 90% LTVR on market value is maintained
Application Fee
0.5% of the loan amount
Eligible Properties
Residential units and land within HMB-financed developments; open market properties
Loan Amount
No upper ceiling
Processing Time
Expedited approval: from acceptance to approval in as few as five working days
Multiple Property Types
OMG Mortgage financing is available across a range of property types within HMB-financed developments including land, apartments, duplexes, townhouses, houses and luxury villas with sale prices starting from $525,000, as well as properties on the Open Market.
A Faster Path to Your Keys
We know that time matters when you have found the right home. That is why OMG Mortgages:
- Come with a streamlined approval process.
- Have dedicated Business Development Officers assigned to specific developments.
- Have blanket valuation reports prepared in advance.
- Title searches on developments are completed up front so that once your loan is approved, the only step remaining is an update to your personal searches.
The result is a process that can reduce legal processing time significantly — and get you home faster.
After prequalification, it’s time to find your perfect property within your budget. Discover your next home, and then dive into your mortgage application with all the necessary documents and fees. Our How-to Guide is your companion for navigating the legal landscape of home financing.
Two (2) copies of all documents must be provided.
Standard Documents
- Evidence of Nationality (2 Forms of ID)
- National Insurance (NIS) Number
- Income Tax (BIR) Number
- Evidence of Income (Job Letter / Pay Slip)*
- Evidence of Savings and Indebtedness**
- Most Recent Credit Card Statement(s)
- Title Deed(s) or Lease and/or Mortgage Deed
- Valuation Report
- Up-to-date receipts for Land & Building Taxes, Water & Sewerage Rates & Lease Rent
- WASA Clearance Certificate
- Utility Bill
Additional Documents
- Agreement of Sale
- Certificate of Good Character (for HDC properties)
- Certificate of Assessment from the District Revenue Office
- Completion Certificate from the Regional Corporation where property is less than 4 years old
For Properties Under Renovation
- Approved Building Plans (from Town & Country Planning Division & Regional Corporation)
- Signed Builder’s Estimate in phased scheduled draw-downs
- Quantity Surveyor’s report where the cost of the renovation/repair exceeds $450,000
- Completion Certificate from the Regional Corporation on completion of required works
- Evidence of funds available for possible cost overruns, estimated at 10% – 15% of the total construction cost
For Townhouses or Condominiums
- Share Certificate
- Registered Management Company Bye-Laws
- Management Company’s Statement on Insurance Coverage and Maintenance Charges with evidence of up-to-date payments
- Annual Returns for Management Company
*Evidence of Income
Submit an Original Job Letter & Pay Slip. If self employed, submit Financial Statements for the last three (3) years and Bank Statements for the last three (3) years, stating the average monthly balance. If you are employed on contract, submit copies of employment contracts for the last three (3) years.
**Evidence of Savings & Indebtedness
Submit statements from all financial institutions with which you deal, including credit unions (monthly payments towards loans must be indicated on these statements).
Application Costs
What do I need to pay?
Estimated Application Fees
- Application: $150.00
- Title Search: $1,500.00 (initial)
- Acceptance Fee: 1% of Loan Amount or $500.00 minimum
- Credit Bureau Report: $90.00 per applicant
- Site Visit: $800.00 per visit
Closing Costs
- Legal Fees
- Statutory Fees (Stamp Duty & Registration Fees)
- 3 months’ Rates & Taxes
- 3 months’ Maintenance Fees
- 1 year’s Lease Rent
- 1 year’s Property Insurance Premium
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Receive an email notification when TTMB lists Property for Sale.
