RCBC Home Loan Application in the Philippines: A Complete Guide
Owning a home is a major milestone, and the right financing makes the journey easier. With RCBC Home Loan, you can move one step closer to your dream property through flexible payments and a simple application process.
This guide covers how to apply for a home loan with RCBC, along with the requirements, loan options, and steps you need to know.
Understanding Home Loans in the Philippines
Before getting into the process, it’s important to know what a home loan is. Simply put, a home loan is financing provided by a bank to help you purchase or build a home without having to pay the full amount up front. Instead, you make monthly payments over a set loan period.
RCBC offers home loan products designed for different needs—whether you want to buy, build, or renovate a property.
Types of RCBC Home Loans
By knowing which loan fits your situation, you’ll be able to complete your home loan application more efficiently. RCBC provides two main types of home loans:
Regular Home Loan
The Regular Home Loan is designed for those who want to purchase a house and lot or a condominium unit. It comes with a minimum loan amount of P1,000,000, requires a 20% down payment, and offers flexible loan terms and fixing options ranging from one to 20 years.
Home Loan Plus
The Home Loan Plus is ideal for individuals who wish to build a new home or renovate an existing one. This option has a minimum loan amount of P300,000, also requires a 20% down payment, and provides the same flexible loan period and fixing options of one to 20 years.
Who Can Apply for an RCBC Home Loan?
Eligibility requirements vary depending on employment status.
For Employed Applicants
• Must be a Filipino or dual citizen (foreigners may apply if married to a Filipino citizen)
• At least 21 years old upon loan application, but not older than 65 at loan maturity
• Minimum gross monthly income: PHP 40,000
• Minimum of one year of employment tenure
• For OFWs: at least two consecutive years of overseas work
• Must have a mobile number and a residence or office landline
For Self-Employed Applicants
• Must be a Filipino or dual citizen (foreigners may apply if married to a Filipino citizen)
• At least 21 years old upon loan application, but not older than 70 at loan maturity
• Business must be operating profitably for at least two years
• Must have a mobile number and a residence or office landline
Requirements for RCBC Home Loan Application
To begin, you’ll need to submit complete documents to speed up your application. Requirements may vary, but generally include the following:
Basic Documents
• Completed RCBC Home Loan Application Form
• Copy of Transfer Certificate of Title (TCT) and Tax Declaration (land and improvement)
• Bill of Materials (for construction)
For Employed Applicants
• Certificate of Employment (COE) or latest Income Tax Return (ITR)
• Two valid government-issued IDs
• Tax Identification Number (TIN)
• Recent utility bill
For Self-Employed Applicants
• DTI or SEC Business Registration
• Audited Financial Statements
• ITR or bank statements
• Two valid government-issued IDs
How to Apply for an RCBC Home Loan
RCBC makes it simple and convenient to apply for a home loan online. Let’s walk you through the process:
Step 1: Define Your Loan Purpose
Decide whether you want to buy a house and lot, purchase a condominium, construct a new home, or renovate an existing property. Clarifying this will help you choose between a Regular Home Loan and a Home Loan Plus.
Step 2: Check Loan Details
RCBC provides a quick overview of loan terms:
• Minimum loan amount
• Required down payment
• Fixing option (the length of time your interest rate is fixed)
• Loan period
This helps you understand your payment structure early on.
Step 3: Choose Your Loan Type
Select between a Regular Home Loan or Home Loan Plus based on your needs.
Step 4: Calculate Your Loan
Use RCBC’s online calculator to get an estimate of your monthly payments. This tool helps you plan your budget before you finalize your home loan application.
Step 5: Submit Requirements
Gather your documents and complete the application form. Submit these through an RCBC branch or online, depending on the available channels.
Step 6: Wait for the Loan Evaluation
RCBC will evaluate your application based on your income, credit history, and submitted documents. Be ready for possible verification calls.
Step 7: Receive Loan Approval
Once approved, you’ll be given the loan terms, which you need to review carefully before signing.
Step 8: Loan Release and Property Turnover
After completing the final steps, your loan will be released, and you can proceed with your home purchase, construction, or renovation.
Why Choose RCBC for Your Home Loan?
RCBC makes applying for a home loan simple and efficient. Aside from straightforward requirements and flexible loan options, RCBC provides:
• Competitive interest rates
• Personalized fixing options (one to 20 years)
• Loan terms up to 20 years
• Financing tailored for both employed and self-employed borrowers
With these features, you can start planning to buy a house in your 30s.
Secure Your Future Home with RCBC
Applying for a home loan doesn’t have to be complicated. By knowing the requirements, eligibility, and process, you’ll be able to move forward with confidence.
With RCBC’s loan products, you can turn your goal of owning or upgrading a home into reality—whether you’re still weighing the decision to rent or buy a house.
Make the most of RCBC Home Loans today. Contact us to start your online application.
