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Maybank home loan for december 2022 in the Philippines

Maybank
Get a home loan at Maybank. On 03.12.2022 there are 4 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

Offers: 4

Updated:
15.10.2022
17:23
Home Loan Refinancing
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
up to 80%
Rate
i

Effective interest rate on the product

6.75% - 7.50% per year
Term
i

Loan term for the financial product

up to 15 years
Home Equity
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
up to ₱5,000,000
Rate
i

Effective interest rate on the product

8.75 - 10.75% per year
Home Construction
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
up to 80%
Rate
i

Effective interest rate on the product

6.75% - 7.50% per year
Term
i

Loan term for the financial product

up to 30 years
Submit your loan application online
Submit your loan application online

Take advantage of our home loan selection system with a free credit check!

Home Acquisition
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
up to 90%
Rate
i

Effective interest rate on the product

6.75% - 7.50% per year

Maybank home loans calculator in the Philippines

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Home loan application in the Philippines

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Other types of mortgage loans

How to get a home loan

Fill out your application
Fill out your application

On our website you can fill out a short application form for a loan.

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Pass a credit check

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Send your application online to the suggested companies
Send your application online to the suggested companies

After checking your credit rate, you will be able to send your loan application to the appropriate companies.

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BillEase
5
Albert T
Albert T
02.12.2022 at 09:25
The best interest – lower than other companies. I've been using Billease for 2 years, and want to say thanks. You may use it with no fear to pay for you smartphone or smth.
Review
TALA
2.6
Allan P
Allan P
01.12.2022 at 09:55
With Tala I forget about banks and offices. Everything is in mobile, I could control my money and loan. Choose limit. I just needed driving license and phone number to register account...
Review
BillEase
4.2
Marvin T
Marvin T
27.11.2022 at 13:25
Billease is for you when you need to buy a new gudget but can't afford it, you may pay by parts. And I don't even need a credit card...
Review
TALA
3.2
Joan T
Joan T
24.11.2022 at 19:07
Tala is an option if you need cash quickly. I urgently borrow money I needed. Downloaded the app, apply and it take 5 min to get my cash. App is essy, interface is comfy.
Review
BillEase
4.2
Evelyn M
Evelyn M
22.11.2022 at 10:10
Fast approval and great app. It is easy even for me and I'm not good with technology. I apply, approved and get my Php 2000 in 30 minutes.
Review
BillEase
3.2
Erwin P
Erwin P
17.11.2022 at 13:05
I decided to get a second loan, bigger one. But it takes me ages to apply. They already had my info and acc. Why so long? My sis says its the best lender… I dont know.
Review
Maybank home loan for december 2022

One of the most common goals people strive for is owning a home because it provides a sense of security. Owning a home also gives you the option to choose where you live. You may prefer to live in an area with more career advancement opportunities or affordable health insurance options. If you cannot pay for your home in cash, you can always take out a Maybank MaxiHome loan. You can do the following with this loan:

  • Home acquisition. You can own your dream house, townhouse, apartment, or condominium. MaxiHome loans allow you to borrow up to ₱500,000 at fixed interest rates for one, three, or five years. A Maybank Philippines accredited developer can also offer you 90% of the appraised value for a house, townhouse, or condo and 60% for residential lots.
  • Home construction. You can borrow up to 80% of the land's appraised value and proposed construction for up to 30 years. The minimum loan amount is ₱1,000,000, with fixed interest rates of 6.75% for one year, 7.25% for three years, and 7.50% for five years.
  • Home equity. You can use your home as collateral for a loan. You can borrow up to ₱5 million or up to 70% of your home's appraised value (whichever is lower). The minimum amount you may apply for a residential house and lot, townhouse, or condominium is ₱500,000 for a maximum duration of up to 10 years. You repay your MaxiHome home equity loan at fixed interest rates for one year at 8.75%, three years at 9.50%, or five years at 10.75%.
  • Home loan refinancing. You can borrow up to 80% of the appraised value of your house and lot, townhouse, or condominium, and 60% of the appraised value of a vacant residential lot. For a condominium or residential house and lot, the minimum amount you can apply is ₱500,000 for a maximum term of up to 15 years. You repay your MaxiHome home equity loan at fixed interest rates for one year at 6.75%, three years at 7.25%, or five years at 7.50%.

How to apply for a MaxiHome loan?

To apply for a MaxiHome loan online, follow these steps:

  1. Visit the nearest branch of your bank.
  2. Request a home loan from the Maybank customer service desk.
  3. Fill in your full name, date, place of birth, and civil status, including whether you are single, married, widowed or separated.
  4. Enter your home address, residential status, contact information (primarily your home and mobile phone numbers), and email address.
  5. Answer all of the remaining questions as prompted.
  6. Then, hand over the loan application and wait for Maybank to schedule an appraisal visit for your home.

Requirements for a MaxiHome loan

You can apply for a MaxiHome loan by contacting any of Maybank's mortgage loan officers. However, you must meet the general conditions and requirements before your loan application can be approved. They are as follows:

General conditions

  • When applying for the MaxiHome loan, you must be over 25 but no older than 65 when the loan matures.
  • If you are employed, you should have worked for a reputable company for at least two years.
  • If you are self-employed, your company must have been registered, operating for at least three years, and profitable in the previous two years.
  • You must have an attorney-in-fact and a two-year employment contract for overseas workers.
  • If you are a seafarer, you must have an attorney-in-fact, be at least an officer level, and have worked for at least two years.

General documentary requirements

The following are the requirements for a MaxiHome loan:

  • If married, you must provide government-issued IDs for spouses and a marriage certificate.
  • If employed, three months' pay stubs, the most recent year's income tax return, and a Certificate of Employment for both spouses.
  • If you are self-employed or an entrepreneur, you must submit the most recent two Audited Financial Statements. You must also provide business registration or permits, a list of over five major suppliers and customers with contact information, the most recent two years' Income Tax Return, as well as six months Bank Statements or passbooks.
  • If an overseas worker, you should provide your history and employment contract, also known as an employment certificate. If you are a seafarer, this is the most recent crew contact. A special Power of Attorney in Maybank format, the most recent six months of bank statements or proof of remittance, and the most recent ITR, if applicable.

Collateral requirements

  • House and lot: copy of Tax Declaration and Transfer Certificate of Title (TCT).
  • Condominium: a copy of the Condominium Certificate of Title (CCT), the Master Declaration Deed, a document of the tax declaration, building plans, bills of materials, and construction cost estimates.
  • Refinancing: updated statement of account and payment history from originating institution.

Pros and cons of a MaxiHome loan

MaxiHome loan is a fantastic option for anyone looking to buy a new home. You can use a MaxiHome loan to purchase a home adaptable to your future needs, such as adding an extra bedroom or turning it into a rental property later. However, you should be aware of all advantages and disadvantages of using the MaxiHome loan before going to a branch and signing the loan documents. These includes:

Pros

  • You can own a home while repaying your mortgage on flexible terms.
  • You are eligible for Life or Mortgage Redemption Insurance (MRI) and Fire Insurance (FI) coverage with the loan account.
  • You do not have to worry about paying more as the interest rate is fixed for the entire term of the loan and does not fluctuate with market changes.

Cons

  • You are required to pay a non-refundable appraisal fee.
  • You are responsible for all costs associated with home ownership, such as registration fees, processing fees, insurance premiums, and other incidental expenses.
  • You can only submit your MaxiHome loan application and requirements at any Maybank PH branch nearby. It is inconvenient for people who live far from any branch.

How to repay a MaxiHome loan?

  1. Visit the Maybank2u website.

  2. Login to your account.

  3. Click on Pay and Transfer.

  4. Choose the account or card you wish to use to pay.

  5. Choose to pay via direct payee.

  6. Choose the Maybank MaxiHome loan.

  7. Enter your information, such as the loan number and amount.

  8. Click Pay.

  9. Check your payment information to ensure you have entered the correct MaxiHome loan information.

  10. Choose between Secure and SMS TAC as your authorization method.

  11. Click Request. Then key in your TAC and approve the transaction.

FAQ

What is the maximum loan amount for MaxiHome?

The maximum amount for a MaxiHome varies depending on the product. For example, Home Acquisition gives you access to 90% of the appraised value of a house, townhouse, or condo and 60% of the appraised value of a residential lot from a Maybank Philippines accredited developer. With Home Construction, you can borrow up to 80% of the land's appraised value and proposed building. With Home Equity, you can borrow up to 5 million or up to 70% of the appraised value of your house (whichever is less) as collateral for a loan. Finally, with Home Loan Refinancing, you can borrow up to 80% of the appraised value of your house and lot, townhouse, or condominium, and up to 60% for a vacant residential lot.

What are the eligible projects for a MaxiHome loan?

You can use a MaxiHome loan to buy a house, townhouse, apartment, or condo.