Guide on Security Bank Housing Loan Loanable Amounts
SECURITY BANK HOUSING LOAN – Here is a guide on how much you can borrow from Security Bank based on the property type.
Buying a house and lot or any residential property is one of the best and the biggest moves you can ever make not only for yourself but as well as for your family and loved ones. It is for safety and as well as an investment.
Truths be told that the value of lot only goes higher by time. However, another truth is that the purchase of a house and lot or any residential property requires a huge amount of money.
Meanwhile, there are a lot of options. You don’t have to do it in cash. Several banks like the Security Bank may help you.
The Security Bank Home Loan is open for both employed and self-employed individuals. To be eligible to apply for it, the applicant must be:
- at least 21 years old upon the loan application but not more than 65 years old upon the loan maturity
- earning a family income of at least Php 50,000.00
- employed for at least two (2) years in the current company or employer or operating a legitimate and profitable business for three (3) years now
With regard to the loanable amounts under the Security Bank Housing Loan, it depends on the target property. All applications are subject to the approval of the bank.
Under the Security Bank Housing Loan, you may apply for the purchase of a new house and lot, a townhouse, a duplex, a vacant lot, a condominium unit, or a second home or investment property. Here’s a guide on how much you can borrow:
- New House and Lot – 80% of the property’s appraised value
- Townhouse – 80% of the property’s appraised value
- Duplex – 80% of the property’s appraised value
- Condominium – 80% of the property’s appraised value
- Second Home/Investment Use – 70% of the property’s appraised value
- Vacant Lot – 70% of the property’s appraised value
Do you want to apply for this Security Bank loan offer? You may visit – SECURITY BANK HOME LOAN – How To Apply For Home Loan Offer.
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READ ALSO: SECURITY BANK LOANS – Full List of How Much Cash You Can Borrow Under Each Offer