Guide on BPI Housing Loan for New Home Purchase Features
BPI HOUSING LOAN FOR NEW HOME – Here is a guide on the excellent features of the Bank of the Philippine Islands loan offer for a residential property acquisition.
Are you one of the people who are excited to live in a house that you can call your own soon? Amid the presence of several excellent housing loan offers, you do not have to wait long to finally experience a space of your own.
It is so much different to be living in a house that you can call your own. You can set your own house rules such as with regards to the curfew, the design of the exterior and the interior of the house, its cleanliness, etc.
In the country, one of the banks that is ready to finance the purchase of a residential property is the Bank of the Philippine Islands. More popularly called BPI, the BPI Housing Loan for a new home purchase is ready to finance the purchase of any of the following residential properties:
- house and lot
- townhouse
- condominium unit
- vacant lot
The Bank of the Philippine Islands boasts its loan offer with affordable downpayment and low interest rates, easy application process, and reliable loan transaction. Under the loan offer, here are the loanable amounts:
- Minimum Loanable Amount — Php 400,000.00
- Maximum Loanable Amount — up to 90% of the property value
The loan is payable from one (1) year up to 20 years. With regards to the interest rates under the BPI Housing Loan for a new home purchase, here are the rates set by the bank:
| 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% |
With regards to the downpayment, it can be as low as 10% of the value of the residential property. The bank has set lists of the qualifications and documentary requirements in applying for the loan offer.
Aside from the BPI Housing Loan for new home purchase, the Bank of the Philippine Islands also offer a Housing Loan for the financing of a house construction.
Aside from the BPI Housing Loan for new home purchase, the Bank of the Philippine Islands also offer a Housing Loan for the financing of a house construction.
