MaxiHome Loan
MaxiHome is a trusted home loan that provides easy financing plans that fits your lifestyle. Whether home acquisition, home construction, refinance or home equity, put our experience to work for your home loan needs. Learn more about our maxihome loan now.
Minimum Loan Amount: PHP 500,000
Product Features
Loan Purpose
- Purchase of House and Lot
- Purchase of Lot
- Purchase of Residential Condominium
- Purchase of Townhouse
- House Construction / Renovation
- Refinancing
Loan Value
- 80% of Maybank Appraised Value for House and Lot
- 80% of Maybank Appraised Value for Residential Condominium
- 60% of Maybank Appraised Value for Residential Vacant Lot
Prevailing Interest Rates:
- Fixed 1 year - 6.88%p.a. ; subject to annual repricing thereafter
- Fixed 3 years - 7.00%p.a.; subject to annual repricing thereafter
- Fixed 5 years - 7.88%p.a.; subject to annual repricing thereafter
Term
- House and Lot - Maximum of 20 years
- Townhouse - Maximum of 20 years
- Residential Condominium - Maximum of 20 years
- Home Construction or Renovation - Maximum of 20 years
- Residential Vacant Lot - Maximum of 10 years
- For OFW Borrowers - Maximum of 10 years
Repayment
Equal monthly amortizations(principal and interest) to commence one (1) month from release date.
Security
Registered first real estate mortgage (REM) over the financed property
Insurance
MRI Insurance coverage from accredited insurance company for principal borrower(s) and Fire Insurance coverage from accredited insurance for the house improvement.
Basic Credit Parameters / Criteria for Borrowers
- Age Requirement: 25 to 65 years old upon loan maturity
- No adverse Credit Finding (i.e. Credit Cards, Court cases, Bank Acct. Handing, etc.)
- If with Business / self-employed - must be existing for 5yrs and profitably operating for the past 3 years
- If locally employed - must be regular in status
- Minimum combined monthly income (both spouses / co-borrowers) - P40K
Loan Requirements
For Employed Applicants: Atleast gainfully employed for 2 years
- Latest Income Tax Return
- Certificate of Employment, indicating the applicant's position, tenure and monthly or annual salary
- Latest 3 months payslips
For Self Employed: Profitably operating for the past 3 years
- Business Registration papers (sole proprietorship and SEC for corporations)
- Latest 2 years ITR
- Latest 2 years Audited and Inhouse Financial Statements
- Latest 6 months bank statements
- List of Suppliers and customers with contact information (At least 3 )
- Company Profile/ Business Background
For Professionals:
- Professional Regulation Commission License
- Latest 2 years ITR
- Latest 2 years Audited and Inhouse Financial Statements
- Latest 3 months bank statements
For Overseas Contract Workers (whichever is applicable for your current status at work)
- Certificate of Employment stating position, years of service, basic salary & fix allowance
- Latest ITR
- Latest 3 months payslips
- Proof of Remittances (at least 3 months)
- POEA contract (if applicable)
- Latest 3 months bank statements
- Working Visa/ Greencard holder/ Immigrant Visa
(Originals of photocopied documents should be presented)
Collateral Requirements
If House and Lot:
- Photocopy of Transfer Certificate of Title (TCT)
- Tax Declaration (Lot and Improvement)
- Lot Plan with Vicinity Map
If Condominium:
- Condominium Certificate of Title (photocopy)
- Master Deed of Declaration and Restriction
- Floor Plan
- Tax Declaration
Additional Requirements for House Renovation
- Building plans and specifications
- Bill of materials/cost estimate
- Building Permit
Fees
Appraisal Fee (Upfront payment- non-refundable)
Within Metro Manila - Php3,500
Outside Metro Manila - (varies on location)
OTHER PRODUCTS
Home Equity
- A multi-purpose loan wether for education, medical, travel or additional working capital
- Up to 60% of the collateral's total appraised value
- Maximum term of ten (10) years
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