Are you planning to finally chase your dream of being a homeowner and still looking for the best, affordable, and flexible home loans here in the Philippines? Are you tired of going from one tab to another just to compare the interest rates of every bank? It’s a lot of work, yes. Deciding and weighing which to choose when it comes to the lowest rates.

It is both an exciting matter and as well as an important milestone that will induce you with the agony of planning and assessing what a long-term home loan entails. This is the kind of commitment that you should not make out of an impulsive state for it backfired into a massive burden.

One of the questions often asked is, what kind of home credit can I avail in the Philippines? It is important to know the credit accessible in the country that you are staying in. Here is the list of uttermost home loans: for purchasing a house and lot, townhouse, a residential condo unit, or simply a vacant lot, while some offer funding for home constructions. Namely are the seven (7) banks and the details of their mortgages:

When you take out a housing loan here in the Philippines, you eventually enter an agreement with the lender – a bank – and repay your credits over an agreed length of time. Filipino have two options in choosing a house loan: public loan, in the form of PAG-IBIG funds and private loan; in the form of banks. Interest rates from every bank differ from one another. For example, for a 25-year mark, the interest of a housing loan is 5.75% 1-year fixed term, while for another it is 6.00%.

Reference: imoney.ph

Buying a house or a vacant lot is one of the prime purchases you will ever make, so be sure to stick in a decision you will never regret. To know more about housing loans in the Philippines, make sure to check the list of our articles to guide you in applying for a mortgage.