Guide on PNB Home Loan Take-Out Offer Features and Application
PNB HOME LOAN TAKE-OUT – Here is a guide on how to apply for the housing loan offer of PNB, the requirements, and the loanable amounts.
The Philippine National Bank, more popularly known as PNB, is one of the banking entities with a housing loan that serves not only the purpose of financing the purchase of a residential property but also a home loan take-out.
PNB Home Loan Take-Out. Truth be told that there are cases when borrowers of a housing loan experienced some financial crisis amid the loan term. It may lead to the loan incurring penalties and it may be hard to bounce back. One options that many borrowers have taken is applying for a home loan take-out to transfer the account. It is also applicable for those who want to make changes in their loan term. The good thing is that PNB’s housing loan serves this purpose.
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
