Guide on Chinabank Home Loan 2024 Application Process & Requirements
CHINABANK HOME LOAN 2024 – Here is a guide on the features of the Chinabank HomePlus offer and how to apply for it.
Are you looking for a bank that can finance your residential property acquisition? In the Philippines, one of the trusted entities with the said type of loan offer is Chinabank. It takes pride in its HomePlus offer being flexible and having low interest rates.
The Chinabank Home Loan offer is ready to finance a vacant lot acquisition as well as the acquisition of residential units (house and lot, condominium unit, townhouse), house construction, home renovation, home loan take-out, and the reimbursement of newly-acquired property.
The loanable amounts under the Chinabank loan offer may vary depending on the purpose of the loan application as well as the collateral involved and the capacity of the borrower.
With regards to the repayment, the bank offers a one-year, three-year, and five-year fixing period. Thus, clients really have the option for protection against the possible rise of interest rates in the next few years.
How to apply for the Chinabank Home Loan offer? Here are the steps that you may follow:
Step 1 — Check the qualifications. There are eligibility requirements that you must meet to qualify for the loan offer. Here are the qualifications set by the bank:
- at leats 24 years old at the time of the loan application
- not more than 65 years old upon the loan maturity
- a Filipino citizen
- with stable and dependable source of income
- If employed, the loan applicant must be in a permanent or regular status for at least three (3) years already.
- If self-employed, the loan applicant must be operating a business duly-registered with the Department of Trade and Industry (DTI) and in a profitable operations for at least three (3) years already.
- If practicing a profession, the loan applicant must be in a professional practice for at least three (3) year already.
- no adverse records
Step 2 — Prepare the requirements. Aside from the qualifications, there are documentary requirements for the Chinabank Home Loan application that you must prepare and submit to the bank.
Step 3 — Go to Chinabank. Visit a branch of the bank nearest to the property and submit your documents to file your loan application. Wait for an update from Chinabank regarding the result of your loan application.
