UnionBank Home Loan 2024 Features & Application Process
UNIONBANK HOME LOAN 2024 – You may achieve the residential property of your dreams now with the help of UnionBank.
Are you looking for a bank where you may apply for a home loan? If you are looking for a reputable one, you may turn to UnionBank which is in the service of the Filipinoe people for decades now. It has several branches across the nation thus its services is really accessible to the public.
The UnionBank of the Philippines or more popularly called UnionBank is a universal bank and one of the largest banking entity in the country. It has several offers for the public which encompass both personal and business categories.
Aside from the UnionBank Cash Loan that salaried and non-salaried individuals can apply for, the bank also has the UnionBank Home Loan offer that can help you achieve the residential property of your dreams.
The multi-purpose cash loan offer of the bank is open to finance several purposes related to residential properties. You may apply for it to finance the purchase of any of the following:
- vacant residential lot
- house and lot
- townhouse
- condominium unit
How much you may borrow under the Home Loan offer? Here are the minimum and maximum amounts allowed by the bank for borrowing:
- 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
With regards to the loan term, under the Home Loan offer, a borrower may repay the loan for up to 25 years for the financing of a purchase of a house and lot and property under an accredited developer with buyback agreement. On the purpose of buying a condominium unit, you may repay the loan for up to 20 years.
How much is the interest rate under the loan offer? According to UnionBank, it is based on the prevailing interest rate at the time of the releasing of the loan. The bank offers a fixed rate option from one (1) year up to 15 years.
In applying for the loan offer, there are different requirements for application depending if you are locally-employed, self-employed, an OFW, or applying as a corporation.
