Guide on BPI Housing Loan Loanable Amounts & Interest Rates Clients Must Be Aware Of
BPI HOUSING LOAN LOANABLE AMOUNTS – You can check here the details about the borrowing amounts and the interest rates allowed under the offer.
Are you looking for a bank where you may apply for a housing loan offer? One of the entities that you may turn to is the Bank of the Philippine Islands or more popularly called BPI. It has several branches across the nation thus its loan offer is really accessible.
The Bank of the Philippine Islands is one of the biggest and most popular banks in the country. It has several loan offers that can attend to different needs Aside from the BPI Car Loan offer, the bank also offers the BPI Housing Loan offer to finance the acquisition of a residential property.
A lot of people undeniably want to have their own house but not everyone can afford the one-time cash payment for a residential property purchase. The BPI Housing Loan offer can be an excellent solution.
The BPI Housing Loan offer can finance several purposes in applying for the offer. It can finance the acquisition of any of the following:
- vacant lot
- house and lot
- condominium unit
- townhouse
Who are qualified to apply for the loan offer? It is open for individuals who are at least 21 years old at the time of the loan application but not more than 65 years old upon the loan maturity. The minimum household income is Php 40,000.
With regards to the BPI Housing Loan loanable amounts, here are the minimum and maximum borrowing amounts allowed by the bank:
- Minimum Loanable Amount — Php 400,000
- Maximum Loanable Amount — up to 90% of the property value
On the interest rate implemented by the bank, it depends on the fixing period. The loan is payable for up to 20 years.
| Fixing period (years) | Rate |
| 1 | 7.00% |
| 2 | 7.25% |
| 3 | 7.75% |
| 4 | 8.00% |
| 5 | 8.25% |
| 10 | 10.25% |
| 15 | 10.50% |
| 20 | 12.00% |
Before you decide on the loan amount, it is best to know the BPI Housing Loan fees. The bank has set a list of charges that clients must be aware of most especially the processing fees.
To apply for the loan offer, there are requirements for BPI Housing Loan application process that must be prepared and submitted to the bank.