list of major bank housing loan requirements:
BORROWER ELIGIBILITY
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Filipino, of legal age but not more than 65 years old upon loan maturity
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With steady, dependable & verifiable source of income
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Employed for at least 3 years in a supervisory/managerial position with a reputable company (for employed individuals)
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Minimum Gross Monthly Income (GMI):
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P50,000/mo. for Metro Manila / Metro Cebu
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P35,000/mo. for other provincial areas
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Able to pay an Equal Monthly Amortization which is:
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< 35% of GMI
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< 75% of Net Disposable Income (NDI)
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No adverse credit findings like court cases, bouncing checks, unpaid loans, cancelled credit cards, etc.
REQUIREMENTS FOR LOAN APPROVAL PROCESSING
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Identification Papers (TIN, Community Tax Certificate, Passport, Company ID, Driver’s License)
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Marriage Contract (if married)
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Bio-data/Resume
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Deposit Statements of Accounts (last 6 months)
EMPLOYED INDIVIDUALS
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Latest Income Tax Return (ITR)/W-2 Form
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Certificate of Employment stating length of service and monthly compensation package
SELF-EMPLOYED INDIVIDUALS
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Audited Financial Statements and ITR for the last 3 years (BIR stamped)
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Certificate of Registration of Business Name
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Business Profile
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Complete list of suppliers and clients
COLLATERAL REQUIREMENTS
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Transfer Certificate of Title
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Current Tax Declaration
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Current Tax Receipts
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Current Tax Clearance
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Location Plan
BANK FORM
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Loan Application
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Mortgage Redemption Insurance (MRI) Application
FOR OFWs*
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Certificate of Employment stating length of service and monthly compensation package
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POEA Contract
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ITR (if any)
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Payslips (last 6 months)
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Special Power of Attorney (Bank Form)
* All documents have to be authenticated by the Philippine Embassy/Consul if issued abroad
INSURANCES AND FEES REQUIRED
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P3,500 Filing Fee (non-refundable)
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Processing Fee
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Mortgage Registration Expenses
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Documentary Stamp Tax
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Mortgage Redemption Insurance (MRI) Premium
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Fire/Earthquake Insurance Premium
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Employed
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Accomplished Application Form
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Certificate of Employment and Compensation
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Valid Government IDs
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TIN
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Residence Certificate
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Photocopies: TCT, Tax Declaration, Tax Receipt, Tax Clearance
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Location plan/vicinity map of property
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Building Plans/Bill of Materials (for construction)
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Statement of Account (for take-out of existing housing loan)
Self-Employed
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Accomplished Application Form
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Copy of last 2 years ITR
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Latest 2 years Financial Statements
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Business Registration/Permits
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Bank Statements – 6 months
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List of Suppliers and Customers
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Company Profile, Property Documents
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Housing Loan Qualification and Requirements
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Individuals who are gainfully employed and with permanent status or engaged in own business operating profitably for at least 2 years
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Must be below 60 years old upon application and must not exceed 70 years old upon loan maturity
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Must have good credit standing
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For foreigners, must have an Alien Certificate of Registration
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For OFWs, must have experience working abroad for at least 2 years
List of Requirements
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Copy of the TCT
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Copy of the tax declaration
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Lot plan (for lot or house & lot)
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Bill of materials and renovation plan (if with renovation or construction financing requirements)
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Authorization from the owner to appraise the property
FOR EMPLOYED INDIVIDUALS
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Completely filled out housing loan application form
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Photocopy of ID and residence certificate
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Certificate of employment and compensation
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Payslips for the last 2 months
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Photocopy of latest ITR
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Photocopy of marriage contract (if applicable)
FOR SELF-EMPLOYED INDIVIDUALS
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Completely filled out application form
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Certificate of business registration
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Photocopy of marriage contract (if applicable)
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Photocopy of IDs and residence certificate
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Financial statements for the past 2 years (in-house & audited)
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Copy of the ITR for the last two 2 years
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List of top 5 suppliers and customers with contact numbers and contact persons
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Bank statements for the last six months
SOURCE:
TO KNOW MORE ABOUT THIS KINDLY CONTACT
iamdrivenmaica@gmail.com
09760077327 (viber)
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