Guide on UnionBank Home Loan — How Much You May Borrow
UNIONBANK HOME LOAN – Detailed below are the minimum and maximum loanable amounts under the UnionBank Philippines loan offer.
In the Philippines, the UnionBank is one of the banks that have multiple loan offers. One of the loans that you might like to apply for is the UnionBank Home Loan that can finance the purchase of a vacant lot, a house and lot, a townhouse, or any other residential property.
The said Home Loan offer of the bank is open not only for Filipinos in the country but as well as overseas Filipino workers (OFWs) and foreign nationals married to Filipinos. The loan provider is one of the most trusted entities in the banking field in the country.
Aside from its wide reach, the UnionBank Home Loan offer has a good range of loanable amounts. Here’s a guide on how much you may borrow:
- Minimum Loanable Amount — Php 200,000
- Maximum Loanable Amount — 60% of the Appraised Value of the Property or up to 90% of the Total Contract Price of the bank’s Accredited Real Estate Developers
The repayment of the loanable amount under the UnionBank Home Loan offer depends on the type of property involved in the loan. If it is a condominium unit, the maximum loan term is 15 years.
For the house and lot and properties under the accredited developers of the bank with buyback agreement, the maximum loan term allowed by UnionBank is 25 years. The interest rate is the prevailing interest rate at the time of the releasing of the loan.
With regards to the fixing rate options, it is open from one (1) year up to 15 years. There are both personal documentary requirements for the UnionBank Home Loan application as well as collateral requirements. The latter are as follows:
Accredited Real Estate Developer:
- Contract to Sell (CTS)
- Reservation Agreement
- Statement of Account
Non-Accredited Real Estate Developer
- Photocopy of Owner’s Duplicate Copy of the Transfer Certificate of Title (TCT)
- Photocopy of Latest Tax Declaration
- Location or Vicinity Map
- Valid Government Issued Identification Card (ID) of Seller/s (if married, include ID of spouse)
- Authorization Letter to conduct Appraisal of Property with Contact Details, Contact Person, and Property Location
- Appraisal Fee
The payment for the UnionBank loan offer can be done through the Automatic Debit Arrangement via a UnionBank Account.