• MayBank Housing Loan

    MayBank Housing Loan

    With the rising real estate costs, purchasing a property has become an herculean task. But, let not money matters be an obstacle to your dreams of owning your own house! Maybank home loans will financially assist you to make that dream property yours. With a wide footprint of branches and customer-centric loan features, Maybank home loans will definitely be your friend in need when you are purchasing a plot, house or a condominium.


    You’re probably eligible for an Maybank Housing Loan if you are

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    Maybank Housing Loan Minimum Age

    At least 21 years old

     Maybank Housing Loan Maximum Age

    Less than 65 years old

    Maybank Housing Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Maybank Housing Loan Minimum Income

    No Info


    Your Maybank Housing Loan amount eligibility is based on these factors

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    Maybank Housing Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    Maybank Housing Loan Maximum Loan to property value

    Loan capped at 80% of the cost of property

    Maybank Housing Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligiblility for Maybank Housing Loan amount by these steps

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    Maybank Housing Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Maybank Housing Loan Maximum Tenure

    Choose longer tenure loan up to 20 years

    Maybank Housing Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an MayBank Housing Loan

    • 1.Duly filled housing loan application form
    • 2.Photocopy of ID such as driver's license, passport, SSS ID, Postal ID, PRC ID etc
    • 3. Copies of the last 6 months’ bank statements or deposit passbooks
    • 4.Documentation for salaried applicants:
      • Income Tax Return (ITR) copy with BIR or bank stamp of the last 1 year
      • Original copy of Certificate of Employment
      • Photocopy of last full month pay slip
    • 5. Documentation for self Employed applicants:
      • Photocopy of Business Certificate
      • Income Tax Return (ITR) copy with BIR or bank stamp

    MayBank Housing Loan DetailsUpdated on 06 Dec 2016

    MayBank Housing Loan Details
    Interest rate 6% - 7.5%
    Margin of Finance Up to 80%
    Tenure 20 years

    About Maybank Housing Loans

    Maybank Philippines Incorporated or the MPI was established in 1997 and is licensed by the Central Bank of Philippines. Maybank has over 79 branches all over the Philippines with 30 branches in Manila. Maybank2U home loan plan called the MaxiHome Loan offers easy financing options for individuals looking to purchase a house, plots, residential condominiums, townhouses and also provides refinancing options. Maybank home loans come at interest rates as low as 6% per annum and can be customized to fit individual. Maybank also caters to the financial needs of diversified retail and business segments and has over 22 million customers in over 20 countries.

    MayBank2U charges an appraisal fee of P4,300 in Metro Manila for home loans which is non-refundable. Outside Manila, the appraisal fee varies depending on the location.

    Features and Benefits of Maybank Housing Loans

    • A Multipurpose Housing Loan
    • Individuals can apply for Maybank2U home loan and can use it to buy a new home, new plot or condominiums. They can also apply home loan for house renovation.

    • Appraisal Fee Waivers
    • Existing members with Maybank2U’s “Treasure”, a segment for families, are entailed for preferential loan rates and can avail the MaxiHome plan without any appraisal fee.

    • Exclusive Privileges
    • Members enrolled with Maybank2U’s “Prosperity” scheme, a segment for small and medium enterprises, can enjoy exclusive privileges such as no appraisal fee for Maybank2U home loan processing and also superior loan rates.

    • Refinancing options
    • Maybank2U home loan allows borrowers to avail upto 80% of appraised value of new home, plot, townhouse or condominium. For people looking at loan refinancing, Maybank2U allows loans upto 70% of the appraised value of house and up to 60% in case of vacant plots.

    • Tenure Options
    • Flexible terms ranging from one to five years that lets the borrowers choose the option that fits their budget.

    Maybank Home Loan Types

    Maybank offers the following types of housing loan scheme for the benefit of customers.

    • Maybank Home Acquisition Loan
    • MaxiHome Home Acquisition loan helps you purchase your dream property by offering up to 80% of the property’s appraised value and 60% for vacant lots.

    • Maybank Home Construction Loan
    • With this loan, customers can avail up to 80% of the land’s appraised value and proposed building with a maximum term of 20 years.

    • Maybank Home Equity
    • You can now increase your home’s value by placing it as an equity for a loan - be it for travel, studies or for investment purposes. You can place up to 60% of the home’s appraised value and can borrow up to P5 million.

    • Maybank Home Loan Refinancing
    • Maybank customers can borrow up to 70% of the property’s appraised value and move the home loan to Maybank.

    Maybank Home Loans Interest Rates

    Loan Scheme Interest Rates Loan Amount Tenure Options
    Maybank Home Acquisition Loan

    1 year fixing : 6.00 percent per annum

    3 year fixing : 6.25 percent per annum

    5 year fixing : 7.50 percent per annum

    Minimum P800,000 1, 3 or 5 year tenure options
    Maybank Home Construction Loan

    1 year fixing : 6.00 percent per annum

    3 year fixing : 6.25 percent per annum

    5 year fixing : 7.50 percent per annum

    Minimum 1,000,000 1, 3 or 5 year tenure options
    Maybank Home Equity

    1 year fixing : 8.75 percent per annum

    3 year fixing : 9.50 percent per annum

    5 year fixing : 10.25 percent per annum

    Minimum P500,000 Maximum tenure of up to 10 years
    Maybank Home Loan Refinancing

    1 year fixing : 6.00 percent per annum

    3 year fixing : 6.25 percent per annum

    5 year fixing : 7.50 percent per annum

    Minimum Php 800,000 Maximum tenure of up to 15 years

    The interest rates are fixed at 6.00% per annum for fixed one year, 6.25% per annum for fixed three years and 7.50% per annum for fixed five years. In all the above schemes, the interest rates are subject to annual repricing after the fixed years.

    Borrowers can make use of the Maybank2U Home Loan calculator and can key-in the loan amounts, number of fixed years and loan terms to arrive at the monthly amortization value.

    Eligibility for Maybank Housing Loans

    • The applicant must be between 25 to 65 years upon the maturity of loan.
    • The combined income of spouse/co-borrowers should be at least P40,000 a month.
    • If the applicant is salaried, he must be regular in status. For self-employed applicants, the requirement is that their business must have been operational for the last five years and must have been profitable for last three years.
    • The applicant must have no adverse credit finding with regard to court cases, credit cards, bank account handling etc.,

    Loan Requirements:

    Different documents are required at the time of application depending on the applicant’s employment status. Here are some of the common documents that are important:

    • Certificate for employment and pay slips for salaried applicants and audited in-house financial statements of last two years for self-employed applicants.
    • Latest Income Tax Return statements
    • Latest bank statements
    • List of at least three suppliers and customers for self-employed applicants.

    Overseas Filipino Workers should submit the POEA contract and Working/Immigrant Visa or Green card in addition to the normal requirements.

    Collateral Requirements for Maybank Home Loans

    • For new house, lot and condominium, the applicant must submit a Floor or Lot plan as applicable and Tax Declaration forms.
    • Transfer Certificate of Title is required for houses and lots and Condominium certificate of title is required for condominiums.
    • Bill of all necessary materials, building permit and plans are required if the home loan is going to be used for house renovation.

    MayBank2U charges an appraisal fee of P4,300 in Metro Manila for home loans which is non-refundable. Outside Manila, the appraisal fee varies depending on the location.

    FAQs for Maybank Home Loans

    You can pay the monthly amortization using Post Dated Checks (PDCs) or auto debit from your MPI CASA account.

    Yes, the appraisal fee within Metro Manila is P4,300 and outside Metro Manila, the fee is Php5,200.

    You will have to bear the costs of payment of registration fees, insurance premiums, processing fee and other miscellaneous incidental expenses.

    Yes, you should have been employed at an officer level and should have been in employment for at least 2 consecutive years.

    You will have to submit the SPA forms, application form. life insurance form. authority to conduct C.I and other required documents for self and property.

     

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