Guide on the Minimum & Maximum Loanable Amounts Under the BPI Home Loan
BPI HOME LOAN – Here is a guide on the minimum and maximum loanable amounts under the housing loan offer of the Bank of the Philippine Islands (BPI).
Most banks in the Philippines now got housing loan offers to the public including the Bank of the Philippine Islands. It is more commonly called as BPI.
The housing loan is another offer of the giant banking company apart from the BPI Personal Loan and BPI Auto Loan. It is intended for those who are seeking for cash assistance in purchasing a residential property.
The BPI Home Loan is open for home acquisition, home construction and renovation, and property equity purposes.
With regards to the loanable amounts under the BPI Home Loan, here are the minimum and maximum amounts that you can borrow from the bank:
- Minimum Loanable Amount – Php 400,000.00
- Maximum Loanable Amounts
- 70% of the appraised value of house and lot
- 60% of the appraised value of vacant lot or residential condominium
- up to 80% of appraised value of house & lot not to exceed P5M
According to BPI, the loan can be paid for up to twenty(25) years for house and lot acquisition and ten(10) years for vacant lot and condominium unit acquisition, refinancing, and business loan.
This loan offer is opened for both Filipinos and foreigners provided that the eligibility qualifications are complied. The applicant must be either of the following:
- of legal age but not more than 65 years old on the maturity date of the loan
- a foreigner who is married to a Filipino citizen
- a foreigner with issued immigrant / resident visa
To apply for the said BPI loan offer, you may visit – BPI HOUSING LOAN: How To Apply For Housing Loan Through BPI Online.
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READ ALSO: BPI LOANS – List of Loan Offers by Bank of the Philippine Islands (BPI)
