However, there are instances in which the personal savings isn’t enough to meet the financial obligations of buying a house. Applying for housing loan can be the best option that can help to invest in buying a home.

Who can qualify for MetroBank home loan?

If you’re looking for additional resources to fund for your investment of buying a home, you can apply for MetroBank housing loan. Here’s how you can qualify:

• You must be at least 21 years’ old
• Not more than 65 years’ old
• Employed/Self-employed with regular income
• With steady income of Php30,000 a month

Likewise, to increase the loanable amount, you must consider these pointers:

• Choose longer tenure of loan maximum of 25 years
• Making your spouse as a co-applicant (the income of your spouse will increases your eligibility)
• Add your parents

Documents Needed in Applying Metrobank Home Loan

Once you decide to apply for MetroBank housing loan, the next thing to do is to secure the required documents as follows:

• Completed housing loan application form
• Photocopy of valid government-issued ID
• Copy of bank statements for the previous six months or deposit passbooks
• Employed applicants must submit ITR issued by the BIR, Photocopy of pay slip for the whole month, and original copy of the Certificate of Employment.
• For self-employed applicants, the documents needed include a copy of ITR or bank stamp, and photocopy of Business certificate.

In addition, the MetroBank housing loan is also offered to Overseas Filipino Workers. This can be a great help to OFWs who are sacrificing working to foreign land to buy a home for their families. For Metrobank housing loan calculator you may click here.

Read also: What is Home Equity is all About

Eligibility criteria

• The OFW applicant must be working as an administrative/technical/officer role for land-based job
• The applicant must be an officer for sea-based job
• Must be on an active job contract
• Must be employed in the present job for 2 years and have been previously working locally for the last 5 years.
• The minimum monthly income of the OFW applicant should be $1,000

Metrobank Housing loan details

The interest rates of MetroBank home loan are affordable and highly competitive. Likewise, the interest charges are based on the fixed rate for a particular tenure. The interest rates ranges from 5.5% to 10.5%.

Read also: How to Open a Metrobank Savings Account 

Home loan fees cover the expenses for registration, notary, handling and appraisal. You may be also required to avail an insurance like Property Insurance and Mortgage Redemption. The amount and rates differ based on the assessment and review of the paperwork.

The post How to Apply and Qualify for MetroBank Home Loan for OFW appeared first on Pinoy Business Ideas.

One of the largest and the most trusted banks today of many Filipinos is the Metropolitan Bank and Trust Company or popularly known as Metrobank. For many years, it has been of service to the Filipino people through its wide variety of financial products and services that are designed to answer and meet anyone’s need financially.

If you have a savings account with Metrobank, you will be guaranteed fast and easy transactions, and if you want to know how to open one, read the steps below.

1. The requirements for opening a Metrobank savings account are very easy. First, you just need to secure 2 valid ID’s, and they can be your school or company ID, NSO birth certificate, Postal ID or voter’s ID, Barangay or Police Clearance, Passport, Driver’s License, SSS or GSIS ID, and other IDs that is issued by the government.

These IDs should be an original copy and the photo should be clear, they should not be expired and officially issued by an authority.

As for the initial deposit, you need to prepare for 2,000 pesos for opening an ATM account and 10,000 pesos for opening a passbook account. Lastly, you will also have to prepare for 2 pieces of 1×1 or 2×2 ID pictures.

Read also: How to Open BPI Savings Account

2. The application process is just easy. You just have to go to the Metrobank branch near you, and you have to proceed to the New Accounts section. You will be required to fill out application forms and make sure that all information are true and correct. The officer will then encode your information, and you will be provided with a deposit slip or a receipt indicating your account number.

3. Your ATM card will be ready in 5 business days. If you have applied for a passbook account, it should be ready right away after submitting your requirements and after your account has been created.

The post How to Open a Metrobank Savings Account – Requirements and Procedures appeared first on Pinoy Business Ideas.