Guide on Maybank Home Loan Refinancing 2025 Features & Application
MAYBANK HOME LOAN REFINANCING 2025 – Here is a guide on an excellent option you may take if you no longer enjoy the terms of your existing housing loan.
Undeniably, there are a lot of home loan providers nowadays but not all offers are equipped with excellent terms until the end. Sometimes, you are already in the middle of repaying the loan when you realized that the features are causing you so much burden already. You might want a refinancing of your loan.
In the Philippines, one of the trusted banking entities that is ready to help you in this matter is Maybank — it got the Maybank Home Loan Refinancing offer. Aside from offering the Maybank Housing Loan for the financing of a real estate property purchase, the bank also accepts the refinancing of an existing loan with any of the following as collaterals:
- vacant residential lot
- house and lot
- townhouse
- condominium unit
With regards to the amount that is loanable under the offer, according to the bank, you may borrow up to “80% of the appraised value of your house and lot, townhouse or condominium”. In the case of vacant residential lots, you may have an access to funds that can provide up to an equivalent of 60% of the value of the property.
For example, if the value of your condominium unit is P2 million, you may borrow up to P1.6 million. In the case of a residential lot, if its value is P1 million, your maximum loanable amount is Php 600,000.
The minimum loanable amount under the Maybank Home Loan Refinancing offer is Php 500,000. The loan term also depends on the type of real estate property under the loan offer:
- up to 10 years for vacant residential lots
- up to 15 years for house and lot and condominium units
The Maybank Home Loan Refinancing offer is open for both locally-salaried and non-salaried individuals as well as overseas Filipino workers (OFWs). Here are the eligibility requirements in applying for the Maybank loan offer:
For Locally-Employed Applicants:
- at least 21 years old upon loan application and 70 years old upon loan maturity
- must hold a non-probationary status in current employment
For Self-Employed Applicants:
- at least 21 years old upon loan application and 70 years old upon loan maturity
- business has been registered and operational for at least 3 years and operating profitably in the latest year
For OFW Applicants:
- at least 21 years old upon loan application and 70 years old upon loan maturity
- must have at least 2 years working experience abroad
- must have an attorney-in-fact
With regards to the documentary requirements in applying for the Maybank Home Loan Refinancing offer, it may vary. Thus, it is important to check on the documents that you need to prepare ahead of time to ensure a smooth transfer of your loan account.