List of Requirements for Bank Housing Loan

When you already assessed that you are financially capable of applying for a home loan, the next to prepare are the documents needed for application. You need to provide everything the bank requires you to submit, the loan account officer will use all the documents to prove you’re eligible to the loan you’re applying to. If the requirements are met, you will be contacted immediately for further instructions and loans can be approved in as fast as 5 bank working days.

Here is a list of major bank housing loan requirements:

Identification

1. Locally Employed/OFW/in Business – Government issued ID, Passport, ACR if Foreigner

2. Corporation/Partnership – SEC Registration, General Information Sheet

Source of Repayment

1. Locally Employed – Income Tax Return, Certificate of Employment, 3 months payslips

2. OFW – Land-based:COE with email of employer, Sea-based: Latest POEA contract

3. in Business – 6 months bank statement with BOO, Certification of No Overdraft Charges

4. Corporation/Partnership – 2 years AFS & ITR, 6 months bank statement with BOO, Certification of No Overdraft Charges

Collateral Requirement – Transfer Certificate of Title / Condominium Certificate of Title, Tax Declaration, Contract to Sell or Reservation Agreement (if under developer tie-up only), House Plans / Bill of Materials / Specifications (for house construction only)

REQUIRED AT ALL TIMES

• HOUSING LOAN APPLICATION FORM (duly accomplished)

• Photocopy of 2 valid government issued ID’s

• Appraisal Fee of P3,500 – non-refundable

• If with co-maker/co-borrower/attorney-in-fact, separate application form is needed

IF EMPLOYED:

Income Documents

• Photocopy of the latest Income Tax Return (ITR)

• Certificate of Employment and Compensation

• Alien Certificate of Registration (ACR) and Official Receipt (if resident alien)

Overseas Filipino Worker

• Photocopy of Passport

• Contract / Certificate of Employment (COE) approved by the POEA, if applicable, authenticated by the Philippine Consulate (if direct hired)

• Proof of inward remittance thru PNB or other banks

• Crew Contract and Exit Pass from POEA (for seafarers only)

• PNB-prescribed Special Power of Attorney (SPA), if applicable

• If SPA was executed and notarized abroad, such has to be authenticated by the Philippine Consulate

FOR THOSE BASED IN:

KINGDOM OF SAUDI ARABIA:

1. The certificate of employment & salary should be stamped by the Saudi Chamber of Commerce; and

2. Authenticated by the Philippine Consulate

USA & US TERRITORY:

1. The certificate of employment & salary should be authenticated by the Phil. Consulate

2. Loan applicant to fill-out the Bank’s Credit Information Authority and pay $50.00 for the Experian Report in PNB-Los Angeles Desk Office located at #3345 Wilshire Boulevard, Suite 200, Los Angeles, California 90010, USA
   Contact Nos.: 323-802-8001
   Telex No.: 6502253656
   Fax No.: 213-401-1803
   Contact Person: Rowena Tabuzo

EUROPE:

1. The certificate of employment & salary should be authenticated by the Phil. Consulate

2. Loan applicant to fill-out the Bank’s Credit Information Authority and pay L85 for the Equifax Report in PNB-Europe Desk Office located at G/F Old Change House, 128 Queen Victoria St., London, EC4V 4HR, United Kingdom
   Contact nos.: 207-3971-340/ 41; 377/397
   Telex Nos.: 883981/ 8812797
   Fax No.: 207-653-1403
   Contact Person: Gloria Alwis

JAPAN:

• The certificate of employment & salary should be authenticated by the Phil. Consulate and should be with English Translation

FOR OTHER COUNTRIES / SEA – BASED:

• Certificate of Employment & Salary authenticated by the Phil. Consulate

• Proof of inward remittance thru PNB or other banks

• Crew Contract and Exit Pass from POEA (for seamen only)

IF SELF-EMPLOYED:

• SSS / GSIS / Driver’s License / PRC License

• Business Name (DTI) or SEC Registration

• Articles of Incorporation, By-Laws with SEC Registration Certificate and latest General Information Sheet if applicable

• General Information Sheet

• Financial Statements / Income Statement for the last 3 years

• Photocopy of the Income Tax Return (ITR) for the last 3 years

• List of Trade References (Suppliers / Customers)

PRACTICE OF PROFESSION:

• Clinic Address/es, schedules and contact numbers (for doctors)

• Bank Statements for the last six (6) months

IF FROM COMMISSION:

• Vouchers or Bank Statements for the last six (6) months reflecting commission income

IF FROM RENTAL OF PROPERTIES:

• Submit photocopy of Lease Contracts / TCT’s of Earning Properties

• Bank Statement for the last six (6) months

IF FROM TRANSPORT BUSINESS:

• OR / CR

• LTFRB Franchise

• Business paper / registration

• ITR for the last two (2) years

• Bank Statement for the last six (6) months

COLLATERAL DOCUMENTS

• Two (2) sets of clear photocopy of TCT / OCT / CCT (all pages including blank pages with the book and page / volume number indicated on the front page)

• Lot Plan with Location / Vicinity Map certified by a licensed Geodetic Engineer

• Photocopy of the latest Tax Declaration / Realty Tax Receipts / Tax Clearance

• Master Deed of Declaration & Restrictions (for Condominium)

• For construction / renovation purposes:

  • Building Plans (complete set) duly signed by a Civil Engineer / Architect

  • Bill of Materials / Specifications / Cost Estimates duly certified by a Civil Engineer / Architect

  • Scope of Work (for renovation)

  • Building Permit

• Deed of Absolute Sale or Contract to Sell (purchase of lot / house and lot)

FOR REFINANCING

• Current Statement of Account

• Official Receipt or cleared checks on amortization payments made or Passbook / Bank Statement where the monthly amortization payment is debited (at least 6 months)

Housing Loan Application Form

• Duly accomplished Application Form

• 2 valid Identification Cards

• If married, both spouses to sign on the application form

• If with co-borrower or co-mortgagor, separate application form is needed

B. Income Documents

If locally employed (working within the Philippines)

• Certificate of Employment (COE) indicating salary, position and length of service

• Latest Income Tax Return (ITR) for the last 2 years

If Expat Pinoy (Overseas Filipino Worker)

• Contract / Certificate of Employment (COE) authenticated by Philippine Consulate

• Crew Contract and Exit Pass validated by POEA (seaman)

• Proof of monthly remittances

• Notarized or authenticated Special Power of Attorney (BPI FSB Format)

If Self-Employed

• Articles of Incorporation and By-Laws with SEC Registration Certificate

• Audited Financial Statements for the last 2 years

• DTI Registration

• Income Tax Return w/ Statement of Assets and Liabilities (SAL) for the last 2 yrs

• List of Trade References (at least 3 names with telephone nos. of major suppliers/customers)

• Bank Statements for the past 6 months

If Practicing Doctor

• Clinic address/es and schedule

If from Commission

• Vouchers or Bank Statements (last 6 months reflecting commission income)

If from Rental of Properties

• Rental/Lease Contract (indicating name of tenants and rental amounts with complete addresses of properties being rented)

• Photocopy of Title (TCT/CCT)

Collateral Documents

• Clear copy of Owner’s Duplicate Copy of TCT/CCT

• Lot Plan with Location/Vicinity Map certified by licensed Geodetic Engineer

• Photocopy of Tax declaration / Tax receipts / Tax clearance

Endorsement Letter / computation sheet / Contract to Sell from developer stating the contract price (for accredited developer/project)

SOURCE:

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TO KNOW MORE ABOUT THIS KINDLY CONTACT

Maica Castillo

iamdrivenmaica@gmail.com

09760077327 (viber)