Bank Specific Requirements

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Housing Loan Requirements of 8 Banks

We have listed 8 Banks and their basic eligibility and document application requirements to guide you in your housing loan application.

BDO

Eligibility Requirements

  • Filipino citizen or foreigner (see Visa requirements)
  • At least 21 years old but not exceeding 65 years old upon loan maturity
  • Minimum gross family income of P50,000.00/month.
  • Stable source of income from employment or business
    • If employed, at least 2 years with current company
    • If self-employed, at least 2 consecutive successful and profitable years of operation.

Document Requirements

Basic Documents

  • Signed BDO application form
  • Clear copy of 1 valid ID matching application details
  • Marriage Contract, if applicable
  • For foreigners, photocopy of Alien Certificate of Registration (ACR) showing Visa status as permanent immigrant or Alient Employment Permit (AEP) or Visa ID

Income Documents

If locally employed

  • Latest Income Tax Return (ITR) or W2, and
  • Latest 3 months payslips or Certificate of Employment with salary breakdown

If employed abroad (or Asenso Kabayan borrowers)

  • Latest 3 months proof of remittance, or
  • Latest 3 months payslip, or
  • Certificate of Employment or Employment Contract duly autheticated by Philippine Consulate Office, or
  • For seamen, latest Crew Contract and employment history or Crew Contract and Exit Pass from POEA

If self-employed

  • Business Registration Papers (Certificate of Registration from DTI or SEC, Articles of Partnership or Articles of Incorporation, whichever is applicable)
  • Latest Audited Financial Statements for the last 2 years with lastest ITR
  • Bank Statements (latest consecutive 3 months)
  • Trade References: List of Suppliers and Customers (at least 3 each) or List of Affliated Hospitals/Clinics (for doctors)
  • Lease Contracts and copy of title (for income derived from rental)

Types of Acceptable Visa for Foreigners

  • Quota or Non-Quota Immigrant Visa:
  • Alien spouse of a Filipino citizen (Sec 13A Visa)-  Natural-born Filipinos married to an Alien (Sec 13D Visa)
    -  Returning Resident (Section 13E Visa)
    -  Natural-born Filipinos naturalized in foreign country (Sec 13G Visa)
  • Photocopy of Special Retiree's Resident Visa (SRRV) or Quota/Preference Immigrant Visa
  • Permanent Resident Status and working Visa granted by Subic Bay Metropolitan Authority (SBMA)
  • Working Visa issued to Embassy Officials

Collateral Documents

  • Photocopy of TCT / CCT
  • Lot Plan with Vicinity Map certified by a Geodetic Engineer
  • Master Deed of Declaration of Restrictions (for condominiums)

Source: https://www.bdo.com.ph/mobile/personal/loans/home-loan

UCPB

Eligibility Requirements

  • You have been employed for the last 12 months with a minimum gross monthly income of P30,000.00, or
  • You have been in business for the last 3 years

Document Requirements

Basic Documents

  • Duly Accomplished Application Form
  • 2 Valid Government-issued ID's

Income Documents

If you are locally employed

  • Certificate of Employment (COE) indicating salary, position and length of service
  • Latest Income Tax Return or Certificate of Creditable Tax Withheld at Source (BIR Form 2316)

If you are an OFW

  • Certificate of Employment (COE) duly authenticated by Philippine Consulate
  • Crew Contract & Exit Pass validated by POEA (for Seamen)
  • Payslips for the last 3 months
  • Notarized or authenticated Special Power of Attorney (UCPB prescribed format)

If Self-Employed

  • Articles of Incorporation / By-laws / SEC Registration / DTI Registration
  • Audited Financial Statements and ITR for the last 3 years
  • Bank Statements for the past 6 months
  • List of Trade References (at least 3 names with telephone numbers of major suppliers/customers)

Source: https://www.ucpb.com/UCPB_Apply_For_Loan_Consumer_Finance_Home_Loan.php

BPI

A. Housing Loan Application Form

  • Duly accomplished Application Form
  • 2 valid Identitifcation 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)

C. 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: http://www.bpihousingloans.com/pages?page=checklist-of-requirements

Security Bank

Eligibility Requirements

  • At least 21 years old, but not more than 65 years old upon loan maturity
  • Earning a combined monthly income of Php 50,000
  • Has been continuously employed for at least 2 years
  • For the self-employed, must be operating a legitimate and profitable business for the last 3 years

Document Requirements

  1. For Locally-Employed Borrowers:
    • Completely filled out and signed application form
    • Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/ signatories of the loan
    • Any ONE of the following income documents:
      • Latest Certificate of Employment and Compensation
      • Latest Income Tax Return
      • Latest 3 months Payslips
      • Latest 3 months Bank Statements
    • Note: to credit commission income, kindly submit latest 6 months payslips
    • Mortgage Redemption Insurance (MRI) Application Form
    • Relevant collateral documents (Section E)
  2. For Self-Employed Borrowers:
    • Completely filled out and signed application form
    • Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/ signatories of the loan
    • Income Tax Return (1701 for sole proprietary owner; or 1702 for Corporation)
    • Any ONE of the following income documents:
      • Audited Financial Statements (Latest 1 year)
      • Bank statements (Latest 3 months)
      • Lease/Rental Contracts
    • Note: For licensed Real Estate brokers and licensed Insurance brokers, kindly submit latest 12 months proof of income to credit commission-based income
    • Mortgage Redemption Insurance (MRI) Application Form
    • Relevant collateral documents (section E)
  3. For Corporate Borrowers:
    • Completely filled out and signed application form
    • Company profile: background, owners, key officers
    • SEC Registration and General Information Sheet
    • Bank Statements (latest 3 months)
    • Income Tax Return (1702 for Corporation) with Audited Financial Statements for the past 3 years
    • Suppliers contact info (with average monthly transactions)
    • Customer's contact info (with average monthly transactions)
    • Authorization letter (for bank, business and trade checkings)
    • Mortgage Redemption Insurance (MRI) Application Form
    • Relevant collateral documents (Section E)
  4. For OFW Borrowers:
    • Completely filled out and signed application form
    • Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/ signatories of the loan
    • Any ONE of the following income documents:
      • Certificate of Employment with compensation (issued within the last 6 months)
      • Latest Crew Contract (for seafarer/seaman)
      • Latest Employment Contract (for land-based OFWs)
      • Allotment Slip
      • Latest 3 months payslip; OR bank statement for past 3 months
    • Note: For OFWs hired directly abroad, any TWO income documents are required
    • Consularized Special Power of Attorney is needed if with attorney in fact
    • Mortgage Redemption Insurance (MRI) Application Form
    • Relevant collateral documents (Section E)
  5. Collateral Document Requirements
    • Copy of collateral title (TCT/CTC)
    • Copy of Tax Declaration on land and/or improvement
    • Signed Authority to Inspect and Verify (bank form)
    • Appraisal Fee paid to SBC: OR Number _________

You can download their Required Document Checklist and SPA Form Below

Check Out the Security Bank Home Loan Online Application Form

Source: https://www.securitybank.com/personal/loans/home-loan-housing-mortgage/

PNB

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

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)

Source: http://www.pnb.com.ph/index.php/personal-banking/loans/housing-loan-requirements

Metrobank

Basic Documents

  • Government Issued ID
  • Passport or ACR (if Foreigner)

Source of Repayment

Locally Employed

  • ITR or
  •  COE or
  • 3 months payslips

OFW

  • Land-based: COE with email of employer
  • Sea-based: Latest POEA contract

In Business

  • 6 months bank statement with BOO Certification of "No Overdraft" charges

Collateral Requirements

  • 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)

Source: https://www.metrobank.com.ph/homeloan/Downloads.aspx

PSBank

Basic Documents

  • Completely filled-out PSBank Home Loan application form
  • Cash or Check payable to Philippine Savings Bank as non-refundable payment for appraisal fees
  • Photocopy of Transfer/Condominium Certificate of Title (TCT/CCT)
  • Contract to Sell/Reservation Agreement (if acquiring from an accredited developer)
  • Valid photo-bearing IDs with signature
  • Copy of Marriage Contract (if married)
  • Copy of Court Decision on Annulment and Certificate of Finality of Decision (if annulled)
  • Copy of Court Decision on Legal Separation and Certificate of Finality of Decision (if legally separated)

Income Documents

For Employed Applicants

  • Latest Certificate of Employment
  • Income Tax Return or BIR Form 2316 or 2306

If Applicant is in Business or in Professional Practice

  • Latest BIR Form 1701 with BIR stamp
  • Latest Audited Financial Statement with BIR stamp

For overseas Filipino applicants

  • Non-Immigrant (contractual worker):
    • Consularized Certificate of Employment
    • Job contract
    • Proof of remittance for the past three to six months
  • Immigrant
    • Latest Certificate of Employment
and any of the following:
  • Proof of remittance for the past three to six months
  • Pay slips for the past three months
  • Latest Income Tax Return

Check out the PSBank Loan Application Form

Source: https://www.psbank.com.ph/content/personal-banking/loans/psbank-home-loan-with-prime-rebate

China Bank

Borrower Eligibility

  1. Filipino, of legal age but not more than 65 years old upon loan maturity
  2. With steady, dependable & verifiable source of income
  3. Employed for at least 3 years in a supervisory/managerial position with a reputable company (for employed individuals)
  4. Minimum Gross Monthly Income (GMI):
  5. P50,000/mo. for Metro Manila / Metro Cebu
  6. P35,000/mo. for other provincial areas
  7. Able to pay an Equal Monthly Amortization which is:
  8. < 35% of GMI
  9. < 75% of Net Disposable Income (NDI)
  10. No adverse credit findings like court cases, bouncing checks, unpaid loans, canceled credit cards, etc.

Requirements for Loan Approval Processing

  1. Identification Papers (TIN, Community Tax Certificate, Passport, Company ID, Driver’s License)
  2. Marriage Contract (if married)
  3. Bio-data/Resume
  4. Deposit Statements of Accounts (last 6 months)

For Employed Individuals;

  1. Latest Income Tax Return (ITR)/W-2 Form
  2. Certificate of Employment stating length of service and monthly compensation package

For Self-Employed Individuals:

  1. Audited Financial Statements and ITR for the last 3 years (BIR stamped)
  2. Certificate of Registration of Business Name
  3. Business Profile
  4. Complete list of suppliers and clients

For OFWs:

  1. Certificate of Employment stating length of service and monthly compensation package
  2. POEA Contract
  3. ITR (if any)
  4. Payslips (last 6 months)
  5. Special Power of Attorney (Bank Form)
  6. All documents have to be authenticated by the Philippine Embassy/Consul if issued abroad

Collateral Requirements

  1. Condominium Certificate of Title of unit and parking slot, (if any)
  2. Current Tax Declaration (unit and parking slot, if any)
  3. Current Tax Receipts (unit and parking slot, if any)
  4. Current Tax Declaration (unit and parking slot, if any)
  5. Location Plan
  6. Occupancy Permit
  7. Bank Form
  8. Loan Application
  9. Mortgage Redemption Insurance (MRI) Application

Insurances and Fees

  1. P3,500 Filing Fee (non-refundable)
  2. Processing Fee
  3. Mortgage Registration Expenses
  4. Documentary Stamp Tax
  5. Mortgage Redemption Insurance (MRI) Premium
  6. Fire and Earthquake Insurance Premium

Check out the China Bank HomePlus Checklist Requirement

Source: http://www.hoppler.com.ph/blog/real-estate-tips/list-of-bank-housing-loan-requirements

Check out our Buyer's Guide for more information on Housing Loans



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