How Much Can I Borrow With A Metrobank Housing Loan?
Maximum of 80% of appraised value of property
Am I Eligible for a Metrobank Home Loan?
Yes, if you are:
- At least 21 years old at loan application and not older than 65 years old upon loan maturity
- A Filipino citizen or foreigner with permanent resident visa for the Philippines
If based in the Philippines:
- A self-employed or fixed income earner
- Employed for at least 2 years with current employer
- Earning at least ?30,000 for self-employed individuals, or have the same Gross Monthly Family Income (GMFI) for fixed income earners
If working overseas:
- A land based (technical or administrative staff/officer) or sea based (officer rank) OFW in active employment, or renewed/signed a contract at loan application
- For land based OFWs employed less than 2 years: Employed locally in the last 5 years prior to becoming an OFW, or as an OFW with different employers, or a combination of local and overseas employment
- For sea based OFWs: Completed a combined contract duration of 24 months with current agency, or 48 months inclusive of previous agencies
- Earning at least $1,000 for self-employed individuals (equivalent to ?30,000), or have the same Gross Monthly Family Income (GMFI) for fixed income earners.
What Documents Will I Need to Prepare?
If you have applied for a Metrobank Home Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below:
If locally employed
- Government-issued ID
- Passport or ACR (if foreigner)
- One of the following:
- Income Tax Return
- Certificate of Employment
- 3 months’ payslips
If self-employed
- Government-issued ID
- Passport or ACR (if foreigner)
- 6 months’ bank statement with BOO Certification of “No Overdraft” charges
If OFW
- Government-issued ID
- Passport or ACR (if foreigner)
- COE with email of employer (if land-based)
- Latest POEA contract (if sea-based)
Collateral Documents
- Transfer Certificate of Title / Condominium Certificate of Title
- Tax Declaration
- Contract to Sell or Reservation Agreement (if under developer tie-up only)
- House Plans / Bill of Materials / Specifications (for house construction only)