BPI House Construction Loan – How Much You May Borrow
BPI HOUSE CONSTRUCTION LOAN – Here are the minimum and the maximum loanable amounts under this home loan offer of the Bank of the Philippine Islands (BPI).
Nowadays, you can buy a house even if you will not be doing it under a one-time payment. How? It is because a lot of entities which includes banks and lending companies offer housing loans. Many people have acquired their residential property through a loan.
Most housing loan offers include the acquisition of vacant residential lots, house and lot, townhouse, condominium unit, and other residential properties. Some offers even include the financing of a house construction or home renovation.
The Bank of the Philippine Islands is one of the entities with housing loan offers that cover different purposes. You may apply for it for the purpose of home acquisition, house renovation or construction, and home equity loan.
With regards to BPI House Construction Loan offer, the minimum loan term is one (1) year. You may repay the borrowed amount for up to 20 years in case you want light monthly amortizations.
How much you may borrow under the BPI House Construction Loan? Here are the minimum and the maximum loanable amounts under this loan offer”
- Minimum Loanable Amount – P40,000
- Maximum Loanable Amount – Up to 90% of the value of the property
The said loan offer serves different construction situations. The following situations are accepted under it:
- House construction on a vacant lot
- House construction after demolishing an existing structure
- House construction and lot purchase combined
Do you want to apply for the said loan offer? You may visit a branch of the Bank of the Philippine Islands (BPI) nearest to you. The requirements may be on a case-to-case basis.
You might also be interested about the cash loan offer of the bank. Feel free to visit – BPI Loan Application Process: How To Apply for Cash Salary Loan.