Guide on UnionBank Home Loan Features & Application
UNIONBANK HOME LOAN – The UnionBank Philippines is one of the entities that you may turn to in achieving your dream house.
Buying a house requires a huge amount of money. However, undeniably, it is also one of the best moves that you can make which may not only benefit you but as well as your family. That is why a lot of people take the risk of getting a residential property. After all, a house of your own is a dream that countless people share.
If you are not ready for a cash purchase of your dream house, you may turn to loans. In fact, most people prefer getting a residential property under a loan even if they can pay for it in case. Many individuals prefer putting their money in areas where it has a chance of growing.
In the Philippines, the UnionBank is one of the entities that you may turn to for a loan that can finance the purchase of residential properties. The UnionBank Home Loan offer is open to finance the purchase of any of the following:
- vacant residential lot
- house and lot
- townhouse
- condominium unit
How much is loanable under the UnionBank Home Loan offer? Here’s a guide on the loanable amount under the offer:
- Minimum Loan Amount — ₱200,000
- Maximum Loan Amount:
- 60% of the Appraised Value of the Property
- up to 90% of the Total Contract Price of the bank’s Accredited Real Estate Developers
For the financing of house and lot and properties under an accredited developer with a buyback agreement, the loan is payable for up to 25 years. For condominium unit purchase financing, the loan is payable for up to 25 years.
With regards to the interest rate under the loan offer, it is dependent on the prevailing interest rate at the time of the loan releasing. The bank offers a fixing period of between one (1) year up to 15 years. The due can be paid through a Automatic Debit Arrangement via UnionBank Account
