Guide on Maybank Home Acquisition Loan Features & Application
MAYBANK HOME ACQUISITION LOAN – Here are the details about this financing offer of Maybank Philippines under the Home Loans.
Are you looking for a reputable bank that can help you in financing the acquisition of your dream home? In the Philippines, one of the banks that you may turn to is Maybank. It is also a popular bank in the country with several branches making its offers accessible.
Maybank has several loan offers. It actually has several home loans that attend to different purposes related to the acquisition of residential properties. One of the offers is the Maybank Home Acquisition Loan that can help finance your purchase of a vacant lot, a house and lot, a townhouse, or a condominium unit.
Under the Maybank Home Acquisition Loan, you may borrow up to 90% of the appraised value of the house and lot, condo, or townhouse from a Maybank Philippines acredited developer. In the case of residential lots, up to 60% of the value is loanable from the bank.
The minimum loanable amount under the Maybank offer is Php 500,000. It can be under fixed interest rates either for one (1), three (3), or five (5) years.
Who are qualified to apply for the Maybank Home Acquisition Loan? Here are the eligibility requirements set by the bank:
- age plus the term of the loan should not be more than 65 years old once the loan matures
- gainfully employed in a reputable company for at least 2 years or owning a business that has been registered and operational for at least 3 years and has been profitable in the last 2 years
- For OFWs, the loan applicant must have a contract of employment for 2 years. For seafarers, the loan applicant must be be at least in an officer level position and should be working for at least 2 continuous years
- attorney-in-fact is required for overseas workers or seafarer applicants
Under the loan offer, there are different interest rates based on the fixing term. Here are the interest rates under the Maybank Home Acquisition Loan:
- 1 year fixing : 6.75% p.a.
- 3 year fixing : 7.25% p.a.
- 5 year fixing : 7.50% p.a.
In applying for the loan offer, there are Maybank Home Acquisition Loan requirements that must be submitted to the bank.
