Maybank MaxiHome Loan is a popular housing loan option offered by Maybank, one of the largest and most reputable banks in Malaysia.
If you are considering purchasing a new home or refinancing your existing property, this guide will provide you with essential information about the MaxiHome Loan, helping you make an informed decision.
For other type of loans, visit my detailed guide for best personal loans and car loans in the Philippines!
What is Maybank MaxiHome Loan?
MaxiHome Loan helps you buy your dream home – whether it’s a townhouse, a condo or a house and lot.
By letting you avail of up to 90% of the appraised value of your house and lot, a condo or a townhouse (60% for residential lots) from a Maybank Philippines acredited developer, you’re one step closer to owning the home you want.
And with a minimum loan amount of P500,000 available in fixed interest rates for 1, 3 or 5 years, we are making owning a home affordable for you.
Am I Eligible to Apply MaxiHome Loan?
To apply for MaxiHome Loan:
- Your age plus the term of the loan should not be more than 65 years old once the loan matures.
- You should be gainfully employed in a reputable company for at least 2 years; or
- You own a business that has been registered and operational for at least 3 years and has been profitable in the last 2 years.
- For overseas workers, you should have a contract of employment for 2 years.
- If you are a seafarer, you should be at least in an officer level position and should be working for at least 2 continuous years.
- An attorney-in-fact is required for overseas workers or seafarer applicants
MaxiHome Loan Requirements
Basic requirements (for both spouses):
- Housing loan application from (completely filled out)
- Government Issued IDs
- Marriage Certificate (if married) and CENOMAR (if single)
- If Employed:
- 3 months payslip
- Income Tax Return (latest year)
- Certificate of Employment for both spouses
Self-employed / Entrepreneurs:
- Business Registration/Permits
- Latest 2 years Audited Financial Statements
- Company profile/business background or List of Major Suppliers and Customers with contact details (at least 5)
- Income Tax Return (latest 2 years)
- Latest 6 months Bank Statements/Passbook
- Contract of Employment / Employment Certificate
- History of Employment / Latest Crew Contact (if applicant is a Seafarer)
- Special Power of Attorney (using Maybank’s format)
- Latest 6 months bank statements/proof of remittance
- Latest ITR (if applicable)
House and Lot:
- Copy of Tax Declaration (Lot and Improvement)
- Copy of Transfer Certificate of Title (TCT)
- Copy of Condominium Certificate of Title (CCT)
- Copy of Master Deed of Declaration and Restriction Copy of Tax Declaration
- Building Plan
- Bill of Materials/Construction Cost Estimates
- Updated Statement of Account from originating institution
- History of payment from originating institution
Apply for Maybank MaxiHome Loan Now!
ATTRACTIONS TO SEE IN MANILA
What are the Interest Rates?
1 year fixing : 6.75% p.a.
3 year fixing : 7.25% p.a.
5 year fixing : 7.50% p.a.
Subject to annual repricing thereafter.
- Registered first real estate mortgage (REM) over the financed property.
- All properties are subject to appraisal. Appraisal fee is non-refundable.
- Payment of Registration Fees, Processing Fees, Insurance Premiums and other incidental expenses are for the borrower’s account.
- Monthly amortization may be paid via Post Dated Checks (PDCs) or Auto Debit from client’s MPI CASA account. Repayment will commence after 1 month from loan release.
- Loan account is subject for Life/Mortgage Redemption Insurance (MRI) and Fire Insurance (FI) coverage.
- Submission of application and requirements can be made to any Maybank branches near you.
Apply for Maybank MaxiHome Loan Now!
Remember, a home loan is a significant financial commitment. Take your time to research, compare different loan options, and choose the one that best suits your needs and budget. Always read the terms and conditions carefully before making a decision.
If you are looking to apply for a credit card, here are my Tips to Get Approved for a Credit Card Application.
Also check out the 5 Credit Cards with No Annual Fees in the Philippines
ACTIVITIES AND TOURS IN MANILA
Home Loans in the Philippines
Here's a list of banks that offer best home loans in the Philippines:
- AUB Home Loan
- BPI Housing Loan
- China Bank HomePlus Loan
- HSBC Home Loan
- Maybank MaxiHome Loan
- Metrobank Home Loan
- PNB Housing Loan
- RCBC Housing Loan
- Security Bank Housing Loan
- UnionBank Home Loan
Also check my list of Top Digital Savings Banks in the Philippines