Guide on Whether or Not Vacant Lot Can Be Used As UCPB Loan Collateral To Obtain Fund
UCPB LOAN – Here is a guide on whether or not the United Coconut Planters Bank accepts a vacant lot as collateral for a cash loan.
Are you in need of some money to fund a project or a longtime goal? Your properties may help you. There are several banks in the Philippines that offer multi-purpose loans.
One of these banks that offer multi-purpose collateral loans is the United Coconut Planters Bank. It is more commonly called as UCPB.
The Home Loan offer of the bank is open to several purposes including the use of a property for a multi-purpose cash loan. You may apply for it for any of the following:
- purchase a residential lot
- buy a house and lot
- buy a condominium unit
- purchase a townhouse
- construct a house
- renovate a home
- refinance an existing mortgage
Under the said UCPB loan, you may also use your existing properties as the collateral for a multi-purpose cash loan. You may use any of the following as the collateral:
- vacant lot
- primary residence
- secondary home
Do you want to know how much you can borrow under this loan offer and the requirements in applying for it? You may visit – UCPB HOME LOAN – Minimum & Maximum Loanable Amounts Under this Loan Offer.
The maximum loan term depends on the purpose of the loan application. For the acquisition of a house and lot, townhouse, or a condominium unit, you may repay the loan for up to 20 years.
If you applied for the said UCPB offer for the refinancing of an existing loan or the acquisition of a vacant lot, the maximum loan term is 10 years. The same maximum loan tenor is set for collateral loans.
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.
READ ALSO: UCPB LOANS: List of UCPB Loan Offers You May Apply For
