1. What is the Metrobank Housing Loan Calculator?

The Metrobank Housing Loan Calculator helps you estimate your monthly payments for a housing loan from Metrobank Philippines. It uses the standard loan amortization formula to calculate your payment based on principal amount, interest rate, and loan term.

2. How Does the Calculator Work?

The calculator uses the standard loan payment formula:

Where:

• \( P \) — Principal loan amount (PHP)
• \( r \) — Monthly interest rate (annual rate divided by 12)
• \( n \) — Total number of payments (loan term in years × 12)
• \( PMT \) — Monthly payment amount (PHP)

Explanation: The formula calculates the fixed monthly payment required to fully amortize the loan over its term, including both principal and interest.

3. Importance of Loan Calculation

Details: Understanding your monthly payment helps with budgeting and ensures the loan is affordable. It also shows the total interest cost over the life of the loan.

4. Using the Calculator

Tips: Enter the principal amount in PHP, annual interest rate in percentage, and loan term in years. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What interest rates does Metrobank offer for housing loans?
A: Metrobank's housing loan rates vary based on market conditions and borrower qualifications. Check their website or visit a branch for current rates.

Q2: Are there other fees besides the monthly payment?
A: Yes, there may be processing fees, appraisal fees, and other charges. Consult with Metrobank for a complete list of fees.

Q3: Can I prepay my Metrobank housing loan?
A: Yes, but prepayment penalties may apply. Check the loan terms for specific conditions.

Q4: How accurate is this calculator?
A: This provides an estimate. Actual payments may vary based on specific loan terms and fees.

Q5: What's the maximum loan term available?
A: Metrobank typically offers housing loans with terms up to 20-25 years, depending on the borrower's age and other factors.