Choose a country
Philippines
Select a city
Select a city
Additional Information
English (PH)
Select country
Choose a country
Philippines
Canada
España
México
Philippines
United States
Việt nam
Казахстан
Россия
Україна

Security Bank home loan for October 2022 in the Philippines

Get a home loan at Security Bank. On 02.10.2022 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:
31.08.2022
09:24
Security Bank
Home Loan
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

6.25% - 10.25% per year
Term
i

Loan term for the financial product

up to 20 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 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
Your data is securely protected
Loan amount
0 ₱
Loan term
0 month
Loan comission
175 069
More

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
Security Bank home loan for October 2022

Buying a home can be stressful. The Security Bank home loan is designed to cut the hassles of buying, building, or renovating your home. With a Security Bank home loan, you can:

  • Buy a home. They'll help you get a new home you can call your own. Remember, there are no hassles, and the application process is fast.

  • Build a home. You can plan, design, and with an auto loan, Security Bank will let you build your new home.

  • Renovate a home. You can breathe new life into your home or increase its selling value before auctioning it.

  • Home refinancing. Their interest rate is quite competitive.

Types of Security Bank home loans

This lender offers two home loans: an all-in financing offer and a home equity loan.

All-financing offer

Home loan all-in financing is a program that allows qualified customers to include upfront bank fees in their loanable amount, which will remain due throughout the loan term.

Home equity loan

The Security Bank home equity loan allows you to use your home's current value as security for the cash you need, whether it's for tuition, the purchase of equipment or furniture, travel, debt consolidation, or any other purpose you see fit. It can also be used to refinance or take out an existing housing loan from different banks if the home equity portion exceeds 50% of the outstanding balance at the time of application.

How to apply for a Security Bank home loan?

With these eight easy steps, you may get a home loan from Security Bank.

  1. Apply online, through accredited developers, or at a nearby branch.

  2. Obtain application status updates through SMS.

  3. Get email confirmation of approval details.

  4. Affirm loan agreements.

  5. Open an account with Security Bank if you do not have any.

  6. Remit bank fees (not applicable to home loan all-in financing).

  7. Submit documents for loan release.

  8. Pack into your new residence.

Requirements

Eligibility

To be eligible for a home loan, applicants must:

  • Be a minimum age of 21 and a maximum age of 65 when the loan matures

  • Have a monthly income of ₱50,000 combined

  • Have worked for the same company for at least two years

  • For self-employed individuals, they must have run a lawful and successful business for the previous three years

Documents

  • Duly filled Security Bank online loan application form for home loan

  • List of documents needed: template authorization letter for Special Power of Attorney (SPA) for tax mapping, and property collateral verification

Pros and cons

It is wise to weigh the advantages and disadvantages of a Security Bank home loan before deciding whether to apply for one. These are some genuine benefits and drawbacks of the loan.

Pros

  • Compared to its rivals, the interest rate on the mortgage is modest.

  • Through its flexible terms, the bank provides simplicity of repayment.

  • Those who take up this loan will also receive some tax benefits.

Cons

  • The bank only offers a short loan term.

  • Missed repayments attract high penalties.

How to repay a Security Bank home loan?

Security Bank home loans can be paid off using an automatic debit arrangement (ADA) or over the counter, but only at the branch where you took out the loan and signed the contract. With the Security Bank mobile app, you can track your loan and payments, while a late fee of 6% applies when you miss a payment.

FAQ

How are my installments and amortizations gathered by Security Bank?

  • One month after loan release, an equal monthly amortization of principal and interest will be collected.

  • The date of the initial amortization will serve as the guide for subsequent amortization due dates.

What types of home loans are available from Security Bank?

  • Purchasing a residential house and lot, building a townhouse or duplex, or a condominium for owner occupancy

  • Refinancing or taking out an existing mortgage, provided that the account has received a favorable credit report from another bank or financial institution.

  • Reimbursement of construction or purchase costs

  • Home equity loan for purchasing a vacant lot secured by a property and has multiple uses other than business.

What are the possible loan terms offered by Security Bank?

  • At least one year

  • 25 years at most for the house and property

  • 20 years at most for a townhouse or duplex

  • Maximum of 20 years for a condominium unit or 15 years for an unoccupied residential lot.