Guide on PNB Home Loan Refinancing Offer Features and Application
PNB HOME LOAN REFINANCING – Here is a guide on how to apply for the housing loan offer of PNB, the requirements, and the loanable amounts.
Are you looking for a bank where you can apply for a loan that could finance and take out your existing home loan offer with another entity? You may turn to the Philippine National Bank or more commonly called PNB.
PNB Home Loan Refinancing. Nowadays, many people prefer purchasing residential properties or building homes through loans. However, there may be instances that can hamper the smooth flow of your loan repayments. One of the options available for those who are having a hard time updating their loan account is a refinancing of an existing loan. It is one of the purposes covered under the Home Loan offer of PNB.
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. 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 PNB 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
