Details about the Landbank Home Loan 2023 — How Much You May Borrow
LANDBANK HOME LOAN 2023 – You can check the details below for the minimum and maximum loanable amounts under the offer.
Are you looking for an entity where you can apply for a home loan offer? You might like to consider the Landbank of the Philippines. It is one of the government banks in the country and also one of the biggest entities in the banking industry.
The Easy Home Loan offer of the government bank is open for several purposes. You may apply for it for the financing of a residential property purchase, house construction, home renovation, and the take-out of an existing home loan.
With regards to the financing of a residential property purchase, the Landbank Home Loan 2023 offer can finance the acquisition of a vacant lot, a house and lot, a condominium unit, and a townhouse.
The Landbank of the Philippines has set an eligibility criteria for application to the Easy Home Loan offer. To qualify, the borrower must meet the following requirements:
- Filipino citizen
- 21 years old and above upon the loan application
- not more than 65 years old upon the loan maturity
- gainfully employed or self-employed with a lawful and profitable business
Under the Landbank Home Loan 2023 offer, the minimum loanable amount is P500,000.00. With regards to the maximum loanable amounts, it will be based on the capacity of the borrower based on his/her financial status.
- For private applicants, the borrowing capacity is based on the 30% of the verified Gross Monthly Income of the borrower and his/her spouse.
- For government employees, the borrowing capacity is based on the amount as required by GAA after the housing loan amortization.
The maximum loan term under the Pag-IBIG Home Loan 2023 offer is 20 years. With regards to the requirements for the Landbank Home Loan application, the set of documents depend on whether the applicant is locally employed or self-employed.
To apply, visit a branch of the Landbank of the Philippines nearest to you. Submit the documentary requirements for evaluation.
