Here are the Minimum & Maximum Landbank Home Loan Amounts 2023 for Aspiring Borrowers
LANDBANK HOME LOAN LOANABLE AMOUNTS 2023 – Here is a detailed guide on how much you may borrow under the loan offer of the Land Bank of the Philippines.
Nowadays, most banks have multiple loan purposes which usually include home loans. Are you looking for one? The Landbank of the Philippines’ offer may be the best solution for you.
The government bank does not only offer savings and checking accounts, Landbank credit card, payroll accounts, and loan programs for farmers but as well as housing loans. One of it is the Easy Home Loan.
Undeniably, a lot of people prefer to avail the loans and other services of the government bank most especially those who are working in the public sector. For its Easy Home Loan offer, you can check the details below.
Under the Easy Home Loan offer of the Landbank of the Philippines, you may file for an application to borrow an amount to be used for various purposes. The financing of any of the following is covered by the loan offer:
- purchase of vacant lot
- house and lot acquisition
- purchase of condominium unit
- buying a townhouse
- house construction
- home renovation
- refinancing of an existing housing loan
Like almost all loans, there is a an eligibility criteria that a borrower must meet to qualify for the loan offer. In the case of Landbank’s Easy Home Loan, the borrow must be:
- a Filipino citizen
- 21 years old and above upon the loan application but must not exceed 65 years old upon the date of the loan maturity
- gainfully employed or self-employed with a lawful and profitable business
With regards to the Landbank Home Loan loanable amounts this year 2023, the minimum amount that the government-bank can lend for a single borrower is P500,000.00. All loan applications are subject to the approval of the bank.
On the maximum loanable amounts under the Landbank Home Loan 2023 offer, the bank has not set a definite amount but will base an applicant’s borrowing amount to 30% of the verified combined Gross Monthly Income of his/her and his/her spouse for private applicants.
For the employees of the government, the maximum amount that you may borrow is based on the amount as required by GAA after the housing loan amortization.
To apply for the loan offer, there are requirements for Landbank Home Loan 2023 application that a borrower must prepare and submit for application. Visit a branch of Landbank preferably nearest to the location where the property is and submit your documents.