Tuesday, February 7, 2023

METROBANK HOME LOAN – How To Apply & The Requirements Needed

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Guide on How To Apply & the Requirements Needed in Applying for the Metrobank Home Loan

METROBANK HOME LOAN – Here is a guide on how to apply for the house loan offer of Metrobank and the requirements needed in applying.

Nowadays, acquiring your own house is quite easier compared before as there are now a lot of banks that offer cash assistance. They do it through loan offers and one of them is the Metrobank.

You may turn to Metrobank not only for deposit account and Metrobank credit card purposes but as well as for cash assistance in purchasing or building your dream house. You may apply for it to:

  • buy a home
  • customize your home
  • transfer your house loan
  • use a residential property as a collateral

The Metrobank Home Loan is open for the acquisition of both brand new and pre-owned residential properties. This offer features a simple application process with minimal requirements.

Metrobank Home Loan

Based on the official website of the bank, here is a guide on how to apply including the requirements needed in applying for the Metrobank Home Loan offer.

Step 1 – Check on your eligibility for the home loan.

If locally-based, the applicant must be:

  • at least 21 years old but not more than 65 years old upon the maturity of the loan
  • a Filipino citizen
  • having a fix income
  • at least two(2) years with the current employer (for employed applicants)
  • earning at least Php 30,000.00 monthly (for self-employed applicants)

If working overseas, the applicant must be:

  • having land-based or sea-based active employment
  • not less than two(2) years with current employer for land-based OFWs
  • a completer of at least a 24-month contract with the current agency
  • earning at least $1,000 for self-employed applicants

Step 2 – Prepare the requirements.

Based on the official website of the bank, you must prepare the following:

  • Valid government-issued ID
  • ACR
  • Proof of Income:
    • For Locally-Based Applicants: payslips, certificate of employment, ITR
    • For OFWs: COE, latest POEA Contract for sea-based applicants

In using a residential property as a collateral, the following documents are needed:

  • Transfer Certificate of Title / Condominium Certificate of Title
  • Tax Declaration (Land/Improvement/Condo Unit)
  • Contract To Sell / Reservation Agreement
  • Floor Plan / Bill of Materials / Job Specifications

Step 3 – Visit the nearest Metrobank branch.

Together with your requirements, head to the nearest Metrobank office for its checking. Some other special requirements may be asked. Submit them for evaluation and wait for the notice of the bank.

Metrobank will notify you with regards to the status of your house loan application and the next processes would depend on the result. If your application is approved, you may pay for the loan for up to twenty-five(25) years depending on the purpose.

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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