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Introduction of VPBank's Home Loan Products
Opportunity to own your dream home with VPBank's assistance opens up the shortest home buying time. Typically, customers are advised to borrow 50% of the home value. However, VPBank offers support limits for consumer loans to buy houses up to 100% of the desired house value and a lengthy repayment period of up to 20 years with flexible debt repayment methods.
Limit for Consumer Loans to Buy Houses at VPBank
The limit for purchasing houses at VPBank stands at a high level of up to 100% of the house purchase, construction, and renovation costs compared to other major commercial banks, where the limit typically ranges from 70% to 80% of the house value customers wish to borrow. Due to the high borrowing limit, borrowers seek significant loan amounts and often consult VPBank first to secure the most favorable loan. However, careful consideration and direct consultation with the bank will determine the specific borrowing amount as VPBank sets a maximum limit, and borrowers can only borrow below this limit:
- Maximum home purchase loan limit is 100% of the home purchase/construction/repair costs but not exceeding the loan-to-value ratio on the property as specified by VPBank
- Loan term: Up to 20 years
- Repayment methods: Monthly interest and principal repayment or end-of-term repayment
Benefits of Home Purchase Loans at VPBank
Getting a home loan from banks often requires various documents to prove financial capability for repayment, especially collateral and ownership documents, but with VPBank, customers will be supported for home purchase loans even with ownership documents for apartments in new urban areas without proper ownership papers. In addition, simple and fast loan procedures also make many people choose this bank for borrowing capital, reducing time pressure when borrowing. However, the key is still for borrowers to understand the loan information and conditions to avoid difficulties in getting the bank's approval for disbursement.
Guide to Creating Mortgage Profiles at VPBank
ID card, household registration book (KT3) of the borrower and of the borrower's spouse
Copy of Marriage Certificate/Single Certificate of the Customer
Loan application with repayment plan (provided by VPBank)
Documents related to the loan purpose such as: House purchase contract, construction permit…
Documents proving financial capability and repayment sources (Labor contract, appointment decision, salary decision…)
Documents proving legal ownership rights to collateral
Other documents
See more: Home loan procedures at ANZ Bank.
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