Guide on Maybank Home Construction Loan Loanable Amounts
MAYBANK HOME CONSTRUCTION LOAN – Here are the minimum and maximum loanable amounts under this Maybank loan offer.
If you want to build a house but your fund is not enough as of the moment, you may apply for a home construction loan. There are banking firms that have construction loan offers. One of the entities that you may turn to is Maybank. You can check the details below.
Under the Maybank Home Construction Loan offer, you may borrow at least P1 million at fixed interest rates for 1, 3 or 5 years. The maximum loanable amount is up to 80% of the appraised value of the land and the proposed building. You can repay the amount borrowed for up to 30 years.
Qualifications for Maybank Home Construction Loan Application:
In every loan, there are eligibility requirements set by the lender. For this home loan offer of Maybank Philippines, in order for the borrower-applicant to be eligible for application, he or she must be:
- not over 65 years old upon the loan maturity
- having a stable source of income
- if employed, the borrower must be working in a reputable company for at least two (2) years already
- if self-employed, the borrower must be running a business that is registered and operational for at least 3 years already and has been profitable for at least 2 years already
- if overseas Filipino worker (OFW), the applicant must have a two-year employment contract
Requirements for Maybank Home Construction Loan Application:
Basic Requirements:
- duly-accomplished and signed Maybank Housing Loan Application Form
- government-issued IDs
- if married, present Marriage Certificate; if single, present Certificate of No Marriage (CENOMAR)
Income and Employment Requirements:
If you are employed, prepare the following documents:
- latest Income Tax Return (ITR)
- 3 months payslip
- Certificate of Employment for both spouses
If you are self-employed, prepare the following documents:
- latest two (2) years Audited Financial Statements (AFS)
- Business Registration or Permits
- latest Income Tax Return for the last 2 years
- company profile
- latest six (6) months Bank Statements / Passbook
If you are an overseas Filipino worker (OFW), prepare the following documents:
- latest ITR
- Contract of Employment
- latest six (6) months Bank Statements
- History of Employment
- Special Power of Attorney
Aside from the home construction loan offer, Maybank also has a personal cash loan offer. To check on the offer, you may visit – Apply Maybank Cash Loan: Guide in Applying & the Requirements for Application.