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Metrobank home loan for december 2022 in the Philippines

Metrobank
Get a home loan at Metrobank. On 03.12.2022 there are 5 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

Offers: 5

Updated:
18.10.2022
12:46
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
Term
i

Loan term for the financial product

up to 15 years
House 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
from ₱500,000
Rate
i

Effective interest rate on the product

7.00% - 8.00% per year
Term
i

Loan term for the financial product

up to 25 years
Reimbursement
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
from ₱500,000
Term
i

Loan term for the financial product

up to 25 years
Submit your loan application online
Submit your loan application online

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

Residential Asset 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 80% of appraised value
Rate
i

Effective interest rate on the product

7.00% - 8.00% per year
Term
i

Loan term for the financial product

up to 25 years
Lot purchase
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
Term
i

Loan term for the financial product

up to 10 years

Metrobank home loans calculator in the Philippines

The best home loan calculator
Home loan amount
i

The amount you want to receive

PHP
PHP
100000 ₱
50000000 ₱
Loan term
i

Specify the desired length of the home loan

years
months
1
30
Interest rate
i

Choose the interest rate on the home loan

1 %
50 %
Type of payments
i

Specify the type of payment for calculating

Home loan application in the Philippines

Home loan amount
i

Specify the desired loan amount

50000 ₱
30000000 ₱
Home loan term
i

Specify the loan term for the calculation

1
30 years
Home loan applicationHome loan applicationHome loan applicationHome loan applicationHome loan application
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Loan amount
0 ₱
Loan term
0 month
Loan comission
175 069
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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.

Pass a credit check
Pass a credit check

We will offer you to check your credit score online for free.

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.

Wait for a response from the lender
Wait for a response from the lender

If necessary, the lender will contact you to clarify the details.

Get your loan!
Get your loan!

Get the money to your bank account.

Apply for a loan Your data is securely protected

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
Metrobank home loan for december 2022

Homeownership is a long, tedious path that starts with a goal. As a result, Metrobank offers customized products to meet your individual requirements. You can do the following with this home loan:

  • Home purchase. You can get a loan of up to 80% of the selling price of the property and benefit from low fixed interest rates for a maximum of five years.
  • Residential asset purchase. Purchasing a second property might be simpler and faster. Purchase a new home with your current property as collateral.
  • Reimbursement. You can purchase a home without sacrificing your way of life. They give a minimum loan amount of ₱500,000 and reimburse the cash within twelve months after purchase.
  • Lot purchase. They can assist you in purchasing a lot with a minimum loan amount of ₱500,000.
  • Construction. Building a house necessitates a significant investment. The bank assists with construction loans starting at ₱500,000 and extending for up to 25 years. Use your property and the projected upgrade as collateral.
  • Refinancing. Transfer the loan to the bank. They'll assist you in planning and reassessing your payment terms and borrowing costs so you can pay off your loan quickly.

How to apply for the Metrobank home loan?

  1. Visit the bank’s official website.

  2. Highlight your mouse to Upgrade, and click on Home loan under Loans.

  3. Scroll down a bit and click on Apply now.

  4. Enter your personal details on the application form that will be displayed. Click on Send now.

  5. Wait to be contacted by the bank regarding your home loan application. You can visit your local Metrobank branch or call the contact center at (02) 88-700-700 for more information.

Requirements for Metrobank home loan

To be eligible for a Metrobank home loan, you must first satisfy the following criteria:

Eligibility

  • You must be at least 21 years old and not older than 65 years when the loan matures.
  • You must have a minimum gross monthly family income of ₱40,000.
  • If employed, you must have a minimum of two years of working experience with your current employer.
  • If self-employed, your business must be profitable for the past three years.
  • The property you are looking to finance must be residential.

Documentary requirements

For employed applicants

  • Completed and signed Metrobank home loan application form.
  • One government-issued photo ID (preferably a passport).
  • Certificate of compensation for employment (with details on current salary, position, and length of service).
  • Bank statements from the previous six months.
  • Marriage contract, if available.

For OFW

  • Completed and signed Metrobank home loan application form.
  • Philippines national passport.
  • Employment verification letter

    • Original copy of the certificate of employment and compensation (containing data on current work title, tenure, and employer's email address) for land-based

    • Most recent POEA contract and certificate of sea service, as well as your current work history and tenure for sea-based positions

  • The most recent six months' bank statements or confirmation of monthly remittance for the last six months.
  • Marriage contract, if available.

For self-employed

  • Completed and signed Metrobank home loan application form.
  • One government-issued photo ID (preferably a passport).
  • Bank statements from the previous six months.
  • Income tax reports and audited financial accounts for the previous two years.
  • Evidence of business registration

    • DTI certificate of registration of your business/trade name or business license for a sole proprietorship

    • Articles of partnership for partnership applicants

    • SEC registration papers, articles of incorporation, and By-Laws registration for corporations

  • Marriage contract, if available.

    Collateral documents

    • Tax declaration.
    • Transfer certificate of title or a condominium certificate.
    • Reservation agreement or contract to sell (if under developer tie-up only).
    • House plans/materials bill/building specs (for house construction only).

    Pros and cons of Metrobank home loan

    Check out these honest pros and cons before making your final decision on applying for this loan.

    Pros

    • The bank has few home loan requirements.
    • There is much information about this loan on the bank’s website.

    Cons

    • The application cannot be completed online.
    • As with many other mortgages, it takes time before your loan can be processed.

    How to repay Metrobank home loans?

    It is critical to pay your monthly installment on time. You can pay by Auto-Debit Arrangement (ADA), which authorizes the bank to debit the charge from your account. Ensure that your account has enough cash each billing period. You can also pay back via Post-Dated Checks (PDCs). Check that the check does not bounce, as this is cause for legal action. Be careful with your loan to prevent fines and losing your new car.

    FAQ

    What if I don't make my Metrobank home loan payment on time?

    A penalty of 10% of the past due amount, or ₱1,000, whichever is larger, shall be assessed for each month the account is past due.

    Can I prepay my Metrobank house loan?

    Yes, you can make advance loan payments. However, you will be charged an early payment processing fee of 10% of your outstanding principal debt or ₱1,000, whichever is larger.