Guide on Maybank Home Acquisition Loan 2024 Features & Application
Maybank Home Acquisition Loan 2024 is ready to help you purchase your new home whether it is a house and lot, a condo, a townhouse, or a vacant lot.
Buying a house and lot or any residential property can be one of the best moves. However, such move requires a huge amount. Meanwhile, there are options that you can turn like home loan offers that are ready to assist residential property purchases.
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In the Philippines, one of the home loan-providing banks is Maybank which has several branches across the nation. Actually, it has a set of home loan offers that can serve several purposes.
One of the offers is the Maybank Home Acquisition Loan 2024 that can finance the purchase of a vacant lot, a house and lot, a condominium unit, or a townhouse. Under it, the loanable amounts vary depending on the type of property you wish to purchase.
- House and Lot, Condo Unit, and Townhouse — up to 90% of the appraised value of the property
- Vacant Residential Lot — up to 60% of the appraised value of the property
Under the Maybank Home Acquisition Loan 2024, the minimum loanable amount is Php 500,000. The bank offers fixing options for 1, 3, and 5 years. The interest rates vary depending on the fixing term such as the following:
- 1 year fixing : 6.75% p.a.
- 3 year fixing : 7.25% p.a.
- 5 year fixing : 7.50% p.a.
Who are qualified to apply for the loan offer? To be eligible to apply for the loan offer, here are the qualifications that a loan applicant must meet to be eligible to apply for the loan offer:
- age plus the term of the loan should not be more than 65 years old once the loan matures
- must be 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 overseas workers who want to apply for the Maybank Home Acquisition Loan, the bank requires a contract of employment for two (2) years. In the case of seafarers, the bank requires the loan applicant to be at least in an officer level position and should be working for at least 2 continuous years.
Furthermore, the bank requires OFW and seafarer applicants to have an attorney-in-fact. There are also documentary requirements for Maybank Home Loan application process.