Guide on the Minimum & Maximum Loanable Amounts Under AUB Home Loan
AUB HOME LOAN – Here is a guide on the minimum and maximum loanable amounts under the house loan offer of the Asia United Bank (AUB).
Nowadays, you can acquire a house and lot even though you don’t have the cash to pay for it. It can be done through banks that offer housing loans just like the Asia United Bank (AUB).
Aside from the AUB Salary Loan, another loan offer offer of the the bank is the Preferred Home Loan. It offers flexible payment terms of up to twenty(20) years.
Based on the official website of the Asia United Bank, the following are the minimum and maximum loanable amounts under the AUB Home Loan:
- Minimum Loanable Amount – Php 500,000.00
- Maximum Loanable Amount – Up to 80% of the appraised value of the property
The payment can be done through auto debit arrangement or post-dated checks. The interest rate may depend on the amount and the term of payment of the loan.
With regards to the requirements in applying for the AUB Home Loan, the lists may vary depending on the employment status of the applicant.
Here are the requirements according to Asia United Bank:
- Duly Filled-out and signed application form
- Photocopy of two (2) valid IDs each from the principal borrower and co-borrower
- Photocopy of Marriage Contract (if applicable)
Collateral Requirements (**Accredited Developers)
- Copy of collateral title (TCT /CCT)
- Statement of Account, Reservation Agreement/ Contract to Sell**
- Photocopy of the lot plan/ vicinity map / subdivision plan
- Photocopy of updated Tax Declaration, tax Receipts and Tax Clearance
- Building specifications and Floor Plan (for construction loan)
- Bill of materials (for construction loan)
Income Requirements for Employed Applicants
- Photocopy of Certificate of Employment
- Photocopy of latest three (3) months payslip
- Photocopy of latest Income Tax return / BIR form 2316
Income Requirements for Self-Employed Applicants
- Photocopy of Business Registration Papers i.e., SEC Registration / Articles of Incorporation / By-laws / GIS or DTI Certificates Mayor’s Permit / Business Permit
- Photocopy of latest three (3) months bank statements
- Photocopy of Audited Financial Statements (for the last 2 years)
- Photocopy of Income Tax Return (for the last 2 years)
- List of major trade suppliers and customers w/ contact details (if applicable)
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