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Asia United Bank home loan for november 2023

Asia United Bank
Get a home loan at Asia United Bank. On 28.11.2023 there are 1 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.
Offers: 1
Updated:
17.10.2022
08:29
Asia United Bank
Home Loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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300
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from ₱1,000,000
Rate
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Effective interest rate on the product

6.0% - 7.0% APR
Term
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Loan term for the financial product

up to 20 years
Asia United Bank home loan calculator
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More
DIGIDO
5
very fast
Review
Kviku
4
Please address my concerns regarding my loan application and its processing...
Review
Kviku
1.6
Warning: This lender is predatory and extremely dangerous. Do not use this app for loans as they will trap you with impossible and maliciously high interest rates...
Review
Kviku
1.4
I was charged an excessive amount by KVIKU. My last loan was approved on November 25th, 2022 for 5000 pesos...
Review
Kviku
1.8
High Interest Rate. They approved my auto loan without discussing repayment options in full. Instead, they sent me a contract with scheduled payments, which is nowhere near the advertised 0...
Review
Finbro
5
Great Online Loan. Low interest. No hidden charge. Full amount receive. Mababait at magagalang mga staff.
Review
Asia United Bank home loan for november 2023

After years of hard labor, most working Filipinos consider owning a home to be a big accomplishment. Unfortunately, not everyone is able to purchase a home right soon. It often takes decades for some to ultimately earn enough to buy a little home. Then there is little money left over for furniture and other home necessities. Good thing there are now a variety of house loans to pick from, one of which is the AUB home loan.

The Asian United Bank home loan allows you to purchase a home of your choice. You can borrow at least ₱1,000,000 and up to 80% of the property's selling price. Your creditworthiness, the property you want to buy, and the cash down payment you want to make will all influence this. You may buy an empty lot, a home and lot, a residential condominium, or a townhouse from a long range of highly sought-after developers. The loan has flexible payment terms of up to 20 years, with an interest rate of 6.0% fixed for one year, 6.5% fixed for three years, and 7.0% fixed for five years.

How to apply for the AUB home loan?

Follow the below steps carefully to apply for a home loan from this bank:

  1. Visit the AUB website.
  2. Click on Loans and then Home loans.
  3. Go down and click on Apply now. Print out the application form that will be displayed and fill it up.
  4. Gather all required papers, including the loan application form, and go to the nearest AUB branch.
  5. You will be attended to. To apply for the loan and receive payment, follow all instructions carefully.

AUB home loan requirements

To apply for an AUB home loan, you must fulfill the following eligibility requirements and provide the necessary loan documentation:

Eligibility requirements

  • Must be aged between 21 and 65 (upon loan maturity).
  • Must have a minimum gross monthly family income of ₱50,000.
  • Must be a Filipino national.
  • Must have a workplace and residence landline or phone number.
  • Must have the below employment/business status and tenure:

    • For salaried applicants - must be a permanent employee status and with at least six months tenure with the present employer or two years combined work experience, including the recent employer.

    • Professional applicants must have more than or equal to three years of practice in that particular profession.

    • For self-employed applicants - they must be with more than or equal to three years in business operations.

Basic application requirements

  • Fully filled-out and signed application form which was printed online.
  • Photocopy of two valid government-issued IDs each from the principal borrower and co-borrower.
  • Photocopy of the marriage contract for married applicants.

Collateral requirements

  • Photocopy of collateral title (TCT/CCT).
  • Statement of account, contract to sell, or reservation agreement.
  • Photocopy of the lot plan/subdivision plan/ vicinity map.
  • Photocopy of updated tax declaration, tax clearance, and tax receipts.

Income requirements

For employed applicants

  • Photocopy of certificate of employment (From current employers only).
  • Photocopy of the current income tax return (ITR)/BIR form 2316.
  • Photocopy of the latest three months' payslip.

For self-employed applicants

  • Photocopy of business registration papers i.e.;
    • SEC registration

    • Articles of incorporation

    • Mayor's permit

    • Business permit

    • By-laws

    • GIS or DTI certificates

  • Photocopy of the latest three months' bank statement of accounts.
  • Photocopy of audited financial statements, which must be for the last two years.
  • Photocopy of income tax return, ITR, which must be for the last two years.
  • List of major trade suppliers and customers with their signatures and contact details (if applicable).

Please, note that the prerequisites for applying for an AUB home loan may differ based on the applicant's work position.

Pros and cons of AUB home loan

Consider the below benefits and drawbacks of the AUB home loan before deciding if it is right for you.

Pros

  • The bank can finance up to 80% of the property’s appraised price.
  • The applicants have choices regarding their fixed interest rate.

Cons

  • The minimum loanable amount is ₱1,000,000. This is high compared to competitors.
  • The application is not made online.

How to repay the AUB home loan?

AUB home loan borrowers have three payment choices. Monthly amortizations can be paid at any AUB branch or by issuing AUB post-dated checks. Borrowers can also utilize the auto-debit arrangement (ADA) option, which requires them to specify their accounts and the amount and payment schedule. The payments will be deducted automatically from their UnionBank savings or checking accounts every month.

FAQ

Is there a fee to apply for an AUB home loan?

Of course, various costs would be necessary because there are more steps in the application, approval, and financing procedure. If you do not follow the terms of the agreement or the rules, you will face further repercussions.

How much can I borrow with the AUB home loan?

You can borrow a minimum of ₱1,000,000 and up to 80% of the property's value.

How long does it take to process my AUB home loan and receive the proceeds?

If you meet all the paperwork requirements and the qualifying criteria, your loan application might be processed in five business days.

What are the loan purposes of the AUB home loan?

The loan purposes are:

  • Purchasing of home

  • Building a house

  • Refinancing

  • Home improvement/house renovation.