Guide on PNB House Purchase Loan Offer Features and Application
PNB CONDO PURCHASE LOAN – Here is a guide on how to apply for the housing loan offer of PNB, the requirements, and the loanable amounts.
Have you heard about the housing loan offer of the Philippine National Bank or more commonly called PNB? This loan offer covers several types of residential properties including condominium units.
PNB Condo Purchase Loan. Truth be told that a lot of people now like getting condominium units or condos. Some use it as their first home after leaving their house with their parents or settling down while others enjoy the convenience of being near their school or work. There are also those who purchase condo units for business purposes – they use it for rental.
Who are qualified to apply for the said loan offer? To be eligible, the applicant-borrower must be:
- a Filipino citizen
- at least 21 years old upon the loan application but not more than 65 years old upon the loan maturity
- employed or self-employed
How much you may borrow under this loan offer? The Philippine National Bank has set different loanable amounts depending on the purpose of housing loan application. For the purpose of acquiring a residential property, the following are the minimum and maximum loanable amounts:
- Minimum Loanable Amount:
- For lot purchase – Php 500,000.00
- For other residential property purchase:
- within Metro Manila – Php 750,000.00
- outside Metro Manila – Php 500,000.00
- Maximum Loanable Amount:
- For lot purchase – up to 70% of the appraised value
- For other residential property purchase – up to 80% of the appraised value
Requirements. There are documentary requirements in applying for the loan offer. The list of documents needed depends if you are employed, self-employed, or an overseas Filipino worker.
- If you are locally employed, you may visit – LIST: Requirements for PNB Housing Loan If You Are Employed (Locally).
- If you are self-employed, you may visit – LIST: Requirements for PNB Housing Loan If You Are Self-Employed.
- If you are an OFW, you may visit – LIST: Requirements for PNB Housing Loan If You Are an OFW.
You may also visit – PNB LOAN: Full List of PNB Loans You May Apply For
