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Bank and Government Institution Offering House Loan and Mortgage

The following is a compiled information from banks and government institution that offers financial assistance like housing loan, salary loan, as well as car or auto loan. Most of these institution also offers home mortgage with the loan amount and loan terms provided in the table below.

The interest rates for each type of loan or mortgage you plan to apply to will vary depending on the value and the term of mortgage/ loan that you are planning to apply for.

Please also have in mind that since the interest rate of loan or mortgage vary depending on two factors which is the amount and the term or “years to pay”, you may opt to apply for loan refinance or mortgage refinance after few years of paying your loan and mortgage. Refinanced amount will be of lower loan amount and will also cut the term offering a lesser interest rate based on new loan term. If you are looking to refinance your outstanding house loan please contact your creditor/lender for the current rate and terms available for you.

Lender

Loanable Amount

Loan Terms

BDO

P500,000 up to 80% of the appraised value of property

Up to 20 years

BPI

Minimum of P400,000

Maximum of 80% of appraised value for house and lot; 60% for vacant lot or residential condominium

Maximum of 25 years for house and lot

Maximum of 10 years for vacant lot, residential condominium

Chinabank

80% of the appraised value

Up to 25 years for a house and lot; 15 years for a vacant lot; 10 years for a condominium unit

EastWest Bank

Minimum of P500,000

Up to 30 years

Land Bank

Minimum of P500,000 but not more than 80% of the appraised value of the property

Maximum of 20 years for OFW with co-borrower; 15 years without a co-borrower

PNB (Only for OFWs based in Singapore, Japan, Los Angeles and New York)

Singapore:
up to 70% of verified selling price or appraised value of the property

Japan:
Minimum of P500,000 for lots and P1 million for house & lot

Up to 60% of the appraised value for vacant residential lot; 80% for residential house & lot, townhouse, rowhouse or condominium unit

New York and Los Angeles:
Up to 80% of verified selling price of property

Singapore:
Up to 20 years

Japan:
Up to 10 years

New York and Los Angeles:
Up to 20 years for purchase of house and lot, townhouse condominium unit, rowhouse or apartment unit; 10 years for purchase of lot

PSBank

Minimum of P500,000 up to 80% of the property’s appraised value with a cap of P25 million

Up to 10 years for residential lot purchase; 25 years for house and lot, townhouse, duplex or condo

RCBC

Minimum of P300,000 up to P10 million

Up to 20 years

Security Bank

Up to 80% of appraised value of desired property

Minimum of 1 year

Up to 25 years for house & lot; 20 years for townhouse or duplex; and 15 years for residential vacant lot, or condominium unit

UCPB

Minimum of P500,000

Up to 20 years for acquisition of house and lot, townhouses and condominium units; 10 years for acquisition of vacant lots

Pag-IBIG

Up to P750,000

Up to 30 years

SSS

Up to P450,000 for socialized housing loan; P2 million for low-cost housing loan

In multiples of 5 years up to 15 years

Maximum of 5 years for members who are 60 years old at the time of application

image from Pinoy E-Plans

For more information we encourage you to contact the lending institution/s linked above.

©2016 THOUGHTSKOTO

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