Applying for a home loan can be a complex process, especially when navigating the requirements set by banks. This is where OnePropertee steps in, offering comprehensive assistance to ensure you meet all the necessary criteria without the stress. Let's delve into the specifics of BPI's home loan requirements and discover how OnePropertee's Home Loan Consultant makes the process seamless and efficient.

BPI Home Loan Requirements Overview

When applying for a home loan with BPI, it's crucial to understand the diverse set of requirements based on your employment status and other factors. Here's a detailed checklist:

1. Locally Employed

• Latest COE

• Latest 3 months pay slip

• Latest ITR

• Authorization letter to verify employment

a. Other Income Docs

• Bank statements of payroll account, with authorization letter to verify

b. Commission-Based

• Certificate of employment stating commissions received prior year/months/period and Commissions Receivable, if any

• Bank statement where commission is credited, with authorization letter to verify

c. Foreigners

• Filipino spouse to act as primary borrower

2. Pensioner

• Certificate of Pension, with authorization letter to verify

• Bank statements of pension account, with authorization letter to verify

• SSN

3. OFWs

• Latest Contract, with authorization letter to verify

• Proof of bank remittance, with authorization letter to verify

• Details of crewing manager for seafarers

• Attorney-in-Fact / loan administrator (preferably a next of kin); full name, contact details, mailing address and valid government IDs

4. Self-Employed

• Valid DTI Registration or Mayor’s Permit

• Latest ITR with audited financial statements

• Working account (6mos) with authorization letter to verify

• Trade references with complete contact information (business name, complete address, contact person, business phone number) * Major suppliers (at least 3) * Major clients (at least 3)

• Authorization letter to conduct trade verification

a. Additional for part owners of a Partnership/Corporation:

• Individual ITR

• Payroll account where claimed salaries are credit, with authorization letter to verify

b. Additional for rental properties:

• Copy of TCTs/CCTs

• Copy of valid and notarized lease contracts Additional for transport business:

• Copy of LTFRB franchise decision of all units

• Copy of OR and CR of all units

• Authorization letter to conduct franchise verification with LTFRB

• Copy of valid ID of franchise owner

5. Practicing Professionals

• Working account with authorization letter to verify

• Latest ITR with audited financial statements

• Clinic/office address with complete contact details (as applicable)

Collateral Documents

• Photocopy of Owner's Duplicate Copy of the Condominium Certificate of Title or Transfer Certificate of Title (as applicable)

• Photocopy of the updated Tax Declaration, Tax Clearance, Tax Receipt

• Signed Authorization Letter for Tax Mapping and Inspection of Property (for properties in secondary market)

• Photocopy of notarized Contract-to-Sell or Offer-to-Sell from registered owner of property (for private sellers)

• Photocopy of notarized Contract-to-Sell / Letter of Endorsement / Official Computation Sheet from developers (for accredited developer tie-up properties)

• Appraisal Fee (for un-accredited projects)

• Non-refundable appraisal fee of Php 5,000 (inclusive of title verification)

• Photocopy of latest Statement of Account with existing mortgagor (for refinancing)

• Complete set of Building Plan, Bill of Materials, Scope of Work/Cost Estimates (for construction loan)

OnePropertee's Role in Simplifying Your Home Loan Application

With OnePropertee's Home Loan Application Assistance, navigating these requirements becomes much simpler. Our team of dedicated Home Loan Consultants will guide you through every step, ensuring that no detail is overlooked. From gathering the necessary documents to understanding the intricacies of different employment categories, OnePropertee ensures a hassle-free application process. Plus, our free comprehensive service adds value by saving you time and reducing the potential for errors.

Securing a home loan from BPI requires thorough preparation and understanding of various requirements. With OnePropertee's home loan application assistance, you're empowered with expert guidance to smoothly navigate this process, making your dream home a reality. Trust in our expertise to handle the complexities while you focus on the exciting journey of acquiring your new property.

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Source:

https://www.bpi.com.ph/personal/loans/housing-loan/requirements