Here are the checklists of requirements for home loan process that would be helpful for an easier application.

Basic Information of the Borrower:

• Borrower’s age should be at least 21 years of age but not more than 65 years old upon maturity of the loan.
• Eligible borrowers must be Filipino citizens. Foreign nationals are allowed to purchase a condominium, however, for a house and lot and lot only, foreign nationals are allowed to purchase if married to a Filipino citizen. An Affidavit of Support and Waiver of Rights over the collateral property must be executed by the foreigner.
• Principal borrowers must have an stable source of income either as a regular employee or with at least two (2) years profitable business.
• Borrower’s allowed bank to lend depends on the capacity to pay and based on the appraised amount/value of the property.
• The interest rate of the loanable amount will be based on the prevailing bank rates at the time of loan.

Standard Requirements:

• Photocopy of 2 Gov’t Valid I’Ds ( Passport, Driver’s License, SSS, PRC among others) with 3 specimen signature
• Marriage Contract
• Birth Certificate for Single
• Latest Proof of Billing
• ID Picture ( either 1×1 or 2×2 )

SUPPORTING DOCUMENTS

In the event that the declared proof of income such as ITR and Job Contract, the borrower should provide the following:

• Bank Statement for the past six (6) months
• Lease contracts of income generating properties ( if there’s any)
• Stock Certificates ( if there’s any )

REQUIRED AT ALL TIMES

• Bank Loan Application Form (duly accomplished)
• Appraisal Fee of P3,500 – non-refundable ( waived if the developer is accredited with the particular bank you are applying for )
• 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 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

Intended to those borrowers who purchased a property to an individual and not to the developer except for the copy Deed of Absolute Sale or Contract to Sell which is a standard that needs to be provided.

• 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)

NOTE:

A one time Bank charges covers fee for the processing, registration, doc stamps and notarial, except for MRI ( Mortgage Redemption Insurance ) and Fire Insurance which is computed on a yearly basis. These are billed separately which is payable prior to loan take-out.