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BEST BANK TO APPLY FOR A HOUSING LOAN IN THE PHILIPPINES

best bank to apply for a housing loan

BEST BANK TO APPLY FOR A HOUSING LOAN IN THE PHILIPPINES:

Banks with Low Home Loan Interest Rates

 
Are you planning to buy a house and lot? If yes, it wont hurt you if you will approach banks beforehand and have your self pre approved for home loan before making a commitment. I personally choose banks over Pagibig when it comes to housing loan program for they offer lower interest rates for loan over Php1,000,000.00 (million). However, Pag ibig offers a longer payment term (30) years compare to banks (25) years. Please read my post HERE to know more about pagibig housing loan.

Here is the list of banks where you can apply for a housing loan. I compiled all bank requirements, available interest rates and application processing time frames of each bank for your comparison to help you choose the right bank for you.
 

YOUR PERSONAL GUIDE IN CHOOSING THE BEST BANK TO APPLY FOR A HOUSING LOAN:

BEST BANK TO APPLY FOR A HOUSING LOAN
 

BPI FAMILY HOUSING LOAN INFO:

BPI FAMILY HOUSING LOAN INTEREST RATES:
Yearly (5.5%)
2-3 Years (6%)
4-5 Years (6.88%)
6-10 Years (8%)
11-15 Years (9.5%)
16-20 Years (11.50%)

BPI FAMILY HOUSING LOAN REQUIREMENTS:
1.Duly Accomplished Application form./ Download it HERE
-If married, both are required to sign the application form
-If with co- borrower separate application form is required.
2.Valid IDs
3.Income Documents
-Certificate of Employment stating the salary, position and length of service
-ITR for the last 2 years.
4.Collateral Documents
-Clear copy of Owner’s Duplicate copy of TCT/ CCT
-Lot Plan with Location/Vicinity Map certified by licensed Geodetic Engineer, Photocopy of Tax declaration
-Tax receipts / Tax clearance,
-Endorsement Letter / computation sheet / Contract to Sell from developer stating the contract price *for accredited developer/project

BPI FAMILY HOUSING PROCESSING TIME FRAME: 2 weeks or less
(after submitting all the requirements)
BPI FAMILY HOUSING APPRAISAL FEE: PHP5,000
 
PSBANK HOUSING LOAN INTEREST RATES
 

PSBANK HOUSING LOAN INFO:

PSBANK HOUSING LOAN INTEREST RATES:
Yearly (6%)
2 Years (6.5%)
3 Years (7%)
5 Years (7.5%)
10 Years (8.5%)
15 Years (9.25%)
20 Years (9.75%)
25 Years (9.75%)

PSBANK HOUSING LOAN REQUIREMENTS:
1. Duly Accomplished Application form. Download it HERE.
2. Non Refundable payment for processing fee
3. Photocopy of TCT/ CCT
4. Contract to Sell
5. Valid ID with photo and signature
6. Marriage Contract (*If married)
7. Latest Certificate of Employment
8. ITR of BIR form 2316 or 2306

PSBANK HOUSING PROCESSING TIME FRAME: 5 banking days
PSBANK HOUSING APPRAISAL FEE: PHP 3,500

BEST BANK TO APPLY FOR A HOUSING LOAN IN THE PHILIPPINES:
 
METROBANK HOUSING LOAN INTEREST RATES
 
METROBANK HOUSING LOAN INFO:

METROBANK HOUSING LOAN INTEREST RATES:

Yearly (5%) *Promo Rate
2 Years (6.25%)
3 Years (6.25%) *5.75% Promo Rate
4 Years (6.88%)
5 Years (6.88%) *6.38 Promo Rate
6 – 10 Years (8.5%)
11 – 15 Years (11.5%)
 
CITYSTATE SAVINGS BANK HOUSING LOAN
 

CITYSTATE SAVINGS BANK HOUSING LOAN INFO:
Citystate is offering a max of 30 years Loan Term for house and lot.
CITYSTATE SAVINGS BANK HOUSING LOAN ACCREDITED DEVELOPERS:
&nbsp:
PNB HOUSING LOAN
 
PNB HOUSING LOAN INFO:
PNB HOUSING LOAN INTEREST RATES:
Yearly (5.75%)
2-3 Years (6.50%)
4-5 Years (6.75%)
10 Years (8.50%)
15 Years (10.25%)
20 Years (10.75%)

PNB HOUSING LOAN REQUIREMENTS:
1. Completely filled out application form. Download here.
2. 2 Valid IDs
3. Appraisal fee payment
4. ITR
5. Certificate of employment and compensation
6. Collateral Domuments
-2 sets of photocopy of TCT/ OCT/ CCT
-Lot Plan with Location / Vicinity Map certified by a licensed Geodetic Engineer
-Tax declaration, realty tax receipt and tax clearance
– CTC or contract to sell
 
BDO HOME LOAN requirements
 
BDO HOUSING LOAN INFO:
BDO HOME LOAN INTEREST RATES:
Yearly (5.5%)
2-3 Years (6.50%)
4-5 Years (6.88%)

BDO HOME LOAN REQUIREMENTS:
1. Completely filled out application form.
2. 2 Valid IDs
3. Income Documents
4. ITR
5. Certificate of employment and compensation
6. Collateral Documents
-2 sets of photocopy of TCT/ OCT/ CCT
-Lot Plan with Location / Vicinity Map certified by a licensed Geodetic Engineer
-Tax declaration, realty tax receipt and tax clearance
– CTC or contract to sell
– (SOA) State of Account from current bank and official receipt for the last 3 months.

best bank to apply for a housing loan
 
 
 
 
BEST BANK TO APPLY FOR A HOUSING LOAN IN THE PHILIPPINES:
BEST BANK TO APPLY FOR A HOUSING LOAN IN THE PHILIPPINES:
BEST BANK TO APPLY FOR A HOUSING LOAN IN THE PHILIPPINES:

BEST BANK TO APPLY FOR A HOUSING LOAN IN THE PHILIPPINES was last modified: December 2nd, 2016 by Joyful Mommy

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* A proud mommy * Full time mom * part time web project manager * fond reader of web forums especially about parenting * loves to share useful information * loves her daughter and husband * happy individual * God Bless everyone!

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