Union Bank Home Loan

Requirements to apply for UnionBank’s Home Loans

• Individuals gainfully employed and with permanent status
• Individuals engaged in own business operating profitably for at least 2 years or a partner in a registered ownership
• Must be of legal age, not more than 65 years old upon application and must not exceed the age of 70 years upon loan maturity

• Must have a good credit standing

Types of home loan can be availed

• Purchase of lot
• Townhouse
• Residential condominium or
• House and lot from Accredited Developers

Minimum loanable amount is P500,000, while the maximum loanable amount is up to 90% of the property’s selling price.

Maximum term for home loan

• Maximum of 20 years for locally employed
• Maximum of 15 years for OFWs 

Documents requirements need to submit

• Personal Data Documents
• Duly filled out Application form
• Photocopy of Marriage Contract (if applicable)
• Photocopy of any government-issued ID with picture and signature
• Income Documents

For locally employed applicants:

• Certificate of Employment
• 3 months latest pay slips

If Overseas Filipino Worker (OFW):

• Original Consularized Special Power of Attorney  (SPA)
• Passport with entry and exit stamps

For self-employed applicants:

• Business Registration
• Latest 6 months Bank Statements
• Financial Statements

• ITR
• Top 3 list of suppliers/customers with contact numbers (landline)

Collateral Documents

• Contract to Sell or Reservation Agreement
• Statement of Account

Home Loan Interest rates

Each rate is fixed to their corresponding period:

Rate Period

6.50% 1 year

7.50% 3 year

8.50% 5 year

10.50% 10 year

11.50% 15 year

Real Estate Mortgage Fees and Charges

Registration Fees - Fees collected relating to the registration of TCT with Register of Deeds and are computed by the RD based on loan amount

Bank Charges

Processing Fee

P3,500 Metro Manila; 

P4,000 outside Metro Manila

Appraisal Fee

P3,500 Metro Manila; 

P4,000 outside Metro Manila

Other Charges

Documentary Stamps-Tax collected on legal instruments, loan agreements and other documents which are remitted to Bureau of Internal Revenue (BIR)

REM-Doc Stamp P20 for the 1st P5,000 & P10 for succeeding P5000

PN-Doc Stamp P1 for every P200 or a fraction thereof or P1,160,000 / 200 = P5,800

Mortgage Redemption Insurance-Form of life insurance that pays off borrower or the whole of the insured's outstanding mortgage balance in case of death or total disability Loan Amount / 1,000 x (standard rate)

Fire Insurance Insurance that provides protection to your house against loss or damage caused by fire and is computed by the Fire Insurance provider

Notarial Fee Individual Account P400; Developer P800

Amendment Fees and Penalties

Full or partial payments made outside the anniversary date of the loan P4,000

Request for shortening or extension of term P4,000 (shortening) P4,200 (extension)

Cancellation of Mortgage (for fully paid accounts) P500

Delinquent Interest on unpaid balance (for fully paid accounts) Delinquent interest (interest rate per PN or the repriced interest) and penalty (36%) on unpaid monthly installment

Accredited Developers

Aboitiz Land

Brittany

Camella

Century properties

Crown Asia

DMCI

Empire East

Federal Land

Filinvest

Greenfield

Megaworld

Robinsons Land

Rockwell Land

Shang Properties

SMDC

Suntrust

Vista Residences