Guide on Sterling Bank Home Loan Offer Qualifications
STERLING BANK HOME LOAN – Here is a guide on who are qualified to apply for this loan offer of the Sterling Bank of Asia.
One of the biggest purchases you can ever make in a lifetime is buying yourself and your family a residential property. It can be a house and lot, a condominium unit, a townhouse, or a vacant lot where you can build your dream house.
However, not everyone is prepared for a one-time full payment for any residential property. Most of it does not fall below a million pesos depending on the lot area or floor area of the property.
Meanwhile, there are options that you may consider if you want to have your own residential property and just pay for it in monthly installment. You can apply a loan.
The Sterling Bank of Asia is one of the banks in the Philippines with home loan offers. It is open for any of the following purposes:
- purchase of a residential lot
- buying a house and lot
- purchase of a condo unit
- home renovation
Who are qualified to apply for Sterling Bank Home Loan? The following eligibility requirements were set by the bank:
- Filipino Citizen
- 21 years old, but not more than 65 years old upon maturity of the loan
- If borrower is more than 60 years old, require co-maker
If employed, the applicant must be at least two (2) years with the present employer to be qualified for the Sterling Bank Home Loan. If self-employed, the “business should be at least 3 years in operation and profitable for the last 2 years and must be duly registered with Securities and Exchange Commission (SEC) or Department of Trade and Industry (DTI)”.
Also, the combined monthly gross family income must be at least Php 40,000.00. If the applicant is married, the spouse will be the co-maker. To apply, you may visit the nearest branch of Sterling Bank.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
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