Guide on How Much You Can Borrow Under RCBC Home Loan for Home Renovation
RCBC HOME LOAN – Here is a guide on how much you can borrow under the Rizal Commercial Banking Corp. Home Loan offer for home renovation.
Nowadays, most banks got home loan offers and they are not solely for the residential property acquisition. They may also be open to fund a house construction, a home renovation, or a take-out of an existing home loan.
One of the banks whose home loans serve several purposes is the Rizal Commercial Banking Corporation or more commonly called as RCBC. You may apply for it to fund any of the following:
- Lot / House and Lot / Condominium Unit / Townhouse Acquisition
- House Construction
- Home Renovation
- Acquisition Refinancing / Reimbursement
- Home Loan Take-Out
Are you planning to apply for the RCBC Home Loan for your home renovation? You might want to check on how much you can borrow under the said application purpose. Here are the minimum and the maximum loanable amounts:
- Minimum Loanable Amount – Php 300,000.00
- Maximum Loanable Amount – Up to 80% of the property’s appraised value
Who are eligible to apply for the said loan offer?
There are a few qualifications considered under the said RCBC loan offer. To be eligible to apply for it, the applicant must be:
- a Filipino / a dual Filipino citizen / a foreigner married to a Filipino
- at least 21 years old but not more than 70 years old upon the loan maturity
- permanently employed or running a profitable business
Do you want a guide in applying for the said loan offer? You may visit – RCBC HOUSING LOAN: Procedure On How To Apply & Requirements.
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