CTBC Bank home loan for june 2023

CTBC home loan, also known as My Family Home Loan, is a dependable home loan that provides numerous financing options to fit your needs. It also offers low fixed interest rates, allowing the borrower to lock in a long-term interest rate. Other options include acquiring a home and lot, a condominium unit, or even a townhouse and refinancing. The CTBC Bank home loan allows you to purchase a home of your choice. You can borrow at least ₱500,000 and up to 80% of the property's selling price, or up to ₱50,000,000. Your creditworthiness, the property you want to buy, and the cash down payment you want to make will influence this.

How to apply for a CTBC Bank home loan?

Follow the below steps carefully to apply for a CTBC Bank’s My Family Home Loan:

1. Visit the CTBC Bank official website.
2. Click on Loans and then My Family Home Loan.
3. Check the right-hand side of the screen to download the loan application form. Print the form.
4. Fill out the loan application form carefully and thoroughly.
5. Gather all the needed documents with the loan application form and visit the nearest CTBC Bank branch.
6. You will be attended to. Follow all the directives carefully to apply for the loan and get paid.

CTBC Bank home loan requirements

To apply for a CTBC Bank home loan, you must meet the following eligibility conditions and have the loan documentation stated below:

Eligibility requirements

For employed applicants

• Applicants must be between the age of 21 and 65 (upon loan maturity).
• Applicants must have a minimum gross monthly family income of ₱50,000.
• Applicants must be Filipino citizens.
• They must have an office and residence landline or phone number.

• They must have the following 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.

For OFWs

• Applicants must be between the age of 21 at the moment of appliation and 65 upon loan maturity.
• Applicants must have a minimum gross monthly income of ₱50,000 for land-based OFW loan applicants and ₱80,000 for sea-based loan OFW applicants.
• They must be Filipino citizens.
• Applicants must have an office and residence landline or mobile phone number.
• Applicants must have at least three years of work experience as an Oversea Filipino Worker or seaman and at least six months employed in the present company.
• Applicants must have a locally assigned co-borrower.

Documentary requirements

• A filled CTBC Bank housing loan application form
• A photocopy of one valid government-issued ID of the principal borrower and co-borrower
• A photocopy of the marriage contract (if applicable)
• A photocopy of certificate of employment issued by the current employee
• A photocopy of the latest Income Tax Return/BIR Form 2316
• A photocopy of TCT/CCT
• A photocopy of the lot plan/vicinity plan/subdivision plan
• A photocopy of the updated tax declaration form, real estate tax receipts, and tax clearance form
• A signed authorization letter
• A payment of appraisal fee

• The latest statement of account of creditor banks (for refinancing loans / take-out purposes)

• For construction loan:

  • A building plan

  • Bill of materials (estimates of construction and all labor costs)

  • Building specification and scope of work.

Pros and cons of CTBC Bank housing loan

Before deciding if the CTBC Bank home loan is a suitable fit for you, consider the advantages and downsides.

Pros

• The bank can finance up to ₱50,000,000.
• The loan can be used as business capital and for business expansion.

Cons

• The bank is not very open about its interest rates.
• The loan application could be declined if you do not have a good credit history.

How to repay the CTBC housing loan?

Borrowers can make an offline loan payment at a bank. They can also employ the auto-debit arrangement (ADA) feature, which requires them to specify their accounts and the amount and payment period. Every month, the payments will be deducted automatically from their CTBC Bank savings or checking accounts.