Guide on Metrobank Home Loan Fees under the Offer
METROBANK HOME LOAN FEES – Here are the charges set by Metrobank that aspiring Home Loan applicants must be aware of.
One of the good moves as long as you know how to plot things out is getting a residential property under a loan and using your money anywhere else where it has a chance to grow. In the Philippines, one of the entities that you may turn to for a home loan is the Metrobank.
Metrobank is one of the biggest and most trusted banks that is operating in the country for decades now. Aside from the Metrobank Cash Loan offer, it has a Home Loan offer that can finance a residential property acquisition, house construction, home renovation, home reimbursement, and home loan refinancing.
Under the Metrobank Home Loan offer, you may borrow up to 80% of the selling price of the property. However, before sealing the deal, it will be best to know the Metrobank Home Loan fees that you have to pay for or might be deducted from your loan proceeds.
The Metrobank Home Loan fees includes the charges upon the application for the loan and after it was approved. Here are the fees that you must pay for upon the application:
- Appraisal Fee:
- PHP 4,000 (Metro Manila)
- PHP 4,500 (countryside)
- Title Investigation Fee — PHP 1,000 per title
Once the loan is approved, here are the charges that you have to be prepared of:
- Registration Fee — To be quoted by the Registry of Deeds
- Notarial Fee — PHP 300 per document
- Handling Fee — PHP 5,000
- Mortgage Redemption Insurance — To be quoted by Axa
- Property Insurance — To be quoted by Axa
It is also best to know the interest that your loan may incur. The Metrobank Home Loan interest rate depends on the fixing period. Here is a guide:
| Fixing Period | New Booking Rates Effective Rate per annum |
| 1-Year | 7.00% |
| 2-Year | 7.25% |
| 3-Year | 7.75% |
| 4-Year | 8.00% |
| 5-Year | 8.25% |