Guide on BPI Property Equity Loan Details and Application Requirements
BPI PROPERTY EQUITY LOAN – Here are the minimum and maximum loanable amounts under this Bank of the Philippine Islands (BPI) offer.
The Bank of the Philippine Islands, more commonly called BPI, is one of the banks in the country with home loan offers. Its loan offer includes several purposes such as the financing of residential property acquisition (vacant lot, house and lot, townhouse, condominium unit), house contruction, and home renovation. It is also open for BPI Property Equity Loan or getting funds by using your residential property as the collateral.
BPI Property Equity Loan:
The Bank of the Philippine Islands (BPI) boasts its loan offer with low interest rates and flexible payment terms. You can repay the amount you borrowed for up to five (5) years. You can apply for the loan offer at any branch of the bank.
How much you may borrow under the BPI Loan for condo purchase? Here are the minimum and maximum loanable amounts under the offer:
- Minimum Loanable Amount – Php 400,000.00
- Maximum Loanable Amount – up to 90% of the value of the property
Interest Rates under the Home Loan offer:
You can repay your loan from one (1) year up to 20 years. You can have the interest rate fixed on a certain period based on the following fixing period and rates:
| 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% |
Who are qualified to apply for this BPI Loan for condo purchase? To be eligible, the borrower-applicant must be:
- at least 21 years old upon the loan application
- not more than 65 years old upon the loan maturity
- earning a household income of at least Php 40,000.00 per month
To apply for the BPI home loan offer, there are documents that you must submit in applying. Feel free to visit – BPI Bank Loan Requirements for Housing Loan – List of Documents to Submit.