Steps on How To Apply for PNB Housing Loan Offer & the Requirements
HOW TO APPLY FOR PNB HOUSING LOAN – Here is a guide on the process in applying for the Philippine National Bank’s loan offer.
Have you heard about the Housing Loan offer of the Philippine National Bank? More popularly called PNB, it is one of the most trusted banks in the country and countless Filipinos trusted the bank with regards to acquiring a residential property under a loan.
The Housing Loan offer of PNB can finance several purposes including a residential property acquisition, house construction, and home renovation. You may borrow up to 80% of the appraised value of the property and there is an option for light monthly installments since the maximum loan term is up to 25 years.
With regards to the mode of payment, the Philippine National Bank allows Automatic Debit Arrangement or ADA as well as the issuance of post-dated checks. On the interest rate, it will be based on the prevailing home loan rate at the time of the loan availment.
How to apply for the PNB Housing Loan offer? There are only three (3) steps that you must follow to ensure a smooth flow of the application process.
Step 1 — Are you qualified?
Here are the eligibility requirements set by the Philippine National Bank under the loan offer. To qualify for the loan offer, here is the set of eligibility criteria under the offer:
- a Filipino Citizen
- at least 21 years old at the time of the loan application
- 65 years old and below upon the loan maturity
- employed or self-employed with a stable source of income
Step 2 — Prepare the requirements.
Aside from the eligibility requirements, there are documentary requirements for the PNB Housing Loan that you must submit to apply. The list depends if you are locally-employed, self-employed, or an overseas Filipino worker (OFW).
Step 3 — File your loan application.
Visit a branch of the Philippine National Bank (PNB) nearest to you and submit your application for the loan. Wait for an update from the bank regarding the result.