Steps for Metrobank Home Loan Application Process for Salaried & Non-Salaried Clients
METROBANK HOME LOAN APPLICATION 2024 – Here is a guide in applying for the loan offer of Metrobank Philippines.
Are you looking for a bank where you may apply for a Home Loan offer? In the Philippines, one of the trusted entities that you may turn to is Metrobank. It is one of the biggest banks in the country and its offers encompass both personal and business categories.
Under the Personal offers, Metrobank has multiple savings and checking account offers, credit cards, loans, investment products, insurance policies, and many other financial services. One of its loan offers is the Metrobank Home Loan.
The Home Loan offer of Metrobank is open to finance a lot purchase, a house construction, a residential asset acquisition, a reimbursement of a residential property purchase, a refinancing of an existing home loan, and a Personal Consumption Loan.
In this case, let us focus on the Metrobank Home Loan application for the purpose of financing a lot purchase. The bank has set a minimum loanable amount under the Metrobank Home Loan offer.
How to apply for the loan offer? Here are the steps for the Metrobank Home Loan application process:
Step 1 — Check the Qualifications. To be eligible to apply for the loan offer, the loan applicant must meet the following eligibility criteria:
- a Filipino citizen
- at least twenty-one (21) years old
- with a gross monthly family income of at least PHP 40,000
- If employed, the loan applicant must be on a permanent status and with the current employer for the last two (2) years
- If running a business, the loan applicant must be operating a business that is in a profitable operation for at least three (3) years
According to Metrobank, in the case of overseas Filipino workers (OFWs), the loan offer is open with or without a permanent residency status in their host country. Here are the other qualifications in applying for the loan offer in the case of OFWs:
- A land-based (technical or administrative staff/officer) or sea-based (officer rank) OFW loan applicant must be in active employment service or the license must have been renewed when applying for a house purchase loan
- For a land-based OFW employed less than 2 years, the loan applicant must be employed locally in the last 5 years prior to becoming an OFW, or as an OFW with different employers, or a combination
- For sea-based OFWs’ case, the loan applicant must have completed a combined contract duration of 24 months with the current agency, or 48 months inclusive of previous agencies
- Earning at least USD 1,000
Step 2 — Prepare the Requirements. Gather the requirements for Metrobank Home Loan 2024 application for the purpose of financing a lot purchase.
Step 3 — File your Loan Application. Go to a branch of Metrobank and submit your documentary requirements to file your loan application. Wait for an update from the bank regarding the status of your loan application.