Minimum & Maximum Loanable Amounts Under RCBC House Loan
RCBC HOUSE LOAN – Here are some information regarding the Housing Loan offered by Rizal Commercial Banking Corp. (RCBC) including the minimum and maximum loanable amounts.
Aside from the RCBC Personal Loan and the RCBC Auto Loan, the Rizal Commercial Banking Corp. also offers a home loan. You may apply to the said loan for the following purposes:
- Purchase of a house and lot, a townhouse, or a condominium unit
- Construction of your house
- Taking out of an existing house loan
- Reimbursement or re-financing of your house
- Renovation of your home
The bank has set a few eligibility requirements for the said loan and some RCBC Home Loan requirements. To be eligible for the “MyHome Loan” offer, you must be:
- At least 21 years old upon loan application
- At most 65 years old if employed or 70 years old if self-employed upon loan maturity
- Filipino citizen or former Filipino citizen under BP 185 guidelines
- Foreign nationals holding immigrant visa or married to a Filipino are eligible if purchasing a unit covered by CCT.
- Permanently employed for at least 1 year; 2 consecutive years for OFWs
- If self-employed, business must be in profitable operations for the last 2 years
With regards to the minimum and maximum loanable amount under the RCBC House Loan, based on the official website of the bank, the minimum loanable amount for the acquisition of property is Php 1-million and Php 300,000.00 for the other purposes.
The maximum loanable amount for all the purposes that the MyHome Loan serves is subject to the capacity of the borrower.
The Loan Valuation for vacant lots is up to 70% of the appraised value while for the house and lot, condo unit, and townhouse, it is 80% of the appraised value.
According to RCBC, the property you wanted to purchase or apply the loan for should be located within the service areas of the bank.
Thank you for visiting our website. We hope we have helped you with regards to your application for RCBC Home Loan. You may keep coming back for more informative guides.
