MORTGAGE LOAN – 5 Giant PH Banks Offering House Mortgage Loans

List of the 5 Banks in PH w/ House Mortgage Loan Offer

MORTGAGE LOAN – Here is a list of five(5) giant banks in the Philippines(PH) that offer house mortgage loans to the aspiring buyers of residential properties.

Nowadays, getting your own house is quite easier compared before. There are many banks in the Philippines now that offer house mortgage loans to the public.

Under this term, you will be provided by a bank with a financial assistance to purchase your target residential property. It may be a lot, a house and lot, a condominium unit, or a townhouse.

Your property will be mortgaged in the bank or used as the collateral for the loan. In case you can’t make it up for the repayment of your loan, there is a possibility that the bank will foreclose it and sell it to cover up your loan.

In the Philippines, there are at least five(5) giants bank that have mortgage loan offers to the public. That is what we will list down in this article.

House
Photo Courtesy of My Property Boutique

The BDO Unibank, the Bank of the Philippine Islands (BPI), the UnionBank, the Metrobank, and the Philippine National Bank (PNB) are among the banks with mortgage loans.

Here is a list of the details regarding the mortgage loan offers of these five(5) giants banks in PH:

BDO Unibank

Eligibility Qualifications:

The applicant must be…

  • at least 21 years old but not more than 70 years old at the maturity of the loan
  • having a minimum gross income of Php 50,000.00
  • a Filipino citizen or foreign national
  • having a stable source of income
    • Locally Employed – at least two(2) years of employment in current company
    • Self-Employed – at least two(2) profitable years of business operation
    • Employed Abroad – two(2) to three(3) years of consecutive employment

Loanable Amounts from BDO Unibank

  • Minimum Loanable Amount – Php 500,000.00
  • Maximum Loanable Amount – Up to 80% of the property’s appraisal value

BPI Family Savings Bank

Eligibility Qualifications:

The applicant must be…

  • a Filipino
  • of legal age not more than 65 years upon the end of the loan term
  • a foreigner who is married to a Filipino citizen
  • a foreigner with an immigrant/resident visa

Loanable Amounts from BPI Family Savings Bank

  • Minimum Loanable Amount – Php 400,000.00
  • Maximum Loanable Amount – Up to 70% of the property’s appraisal value

UnionBank

Eligibility Qualifications:

The applicant must be…

  • at least 21 years old but not more than 65 years old
  • a Filipino citizen eligible under the BP 185 guidelines
  • employed with a permanent status or self-employed with a business that is profitable for at least two(2) years

Loanable Amounts from UnionBank

  • Minimum Loanable Amount – Php 500,000.00
  • Maximum Loanable Amount – Up to 90% of the property’s appraisal value

Metrobank

Eligibility Qualifications:

The applicant must be…

  • at least 21 years old but not more than 65 years old on the date of the maturity of the loan
  • a Filipino citizen or a foreigner with permanent resident visa in the Philippines
  • having a fixed income
  • at least two(2) years with current employment (for employed applicants)
  • earning at least Php 30,000.00 (for self-employed applicants)

Loanable Amount from Metrobank

  • Maximum Loanable Amount – Up to 80% of the property’s appraisal value

PNB

Eligibility Requirements:

The applicant must be…

  • at least 21 years old but not more than 65 years old on the day that the loan will end
  • a Filipino citizen or a foreigner based in PH
  • employed or self-employed

Loanable Amounts from PNB

  • Minimum Loanable Amount
    • within Metro Manila – Php 750,000.00
    • outside Metro Manila – Php 500,000.00
  • Maximum Loanable Amount – Up to 80% of the property’s appraisal value

Thank you for visiting Philnews.ph. Hopefully, the above information has helped you on your pursuit to apply for a mortgage loan in the Philippines.

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