Bank Financing Requirements
1. Now, applying for a home loan is easy and simple.
2. As long as you’re working, you’re qualified. We are accredited with METROBANK AND TRUST COMPANY (MBTC).
3. Developer will process your bank loan. Just submit required documents within 60 days from Date of Reservation.
2. As long as you’re working, you’re qualified. We are accredited with METROBANK AND TRUST COMPANY (MBTC).
3. Developer will process your bank loan. Just submit required documents within 60 days from Date of Reservation.
General Requirements
1. Duly Filled-up Bank Form 2. 3 pcs. ID picture (husband/wife/SPA) 3. Marriage Contract if Married, Birth Certificate if Single 4. Photocopy of two (2) Valid IDs (Husband/Wife/SPA) 5. Tax Account No. (TIN) 6. Proof of Billing here in the Philippines (Meralco, Manila Water, PLDT, Globe, etc.) |
Additional Requirements for OFW
1. Initial requirements 2. Job Contract 3. Photocopy of Passport 4. Special Power of Attorney (SPA) – forms provided upon Reservation 5. Valid I.D. of Attorney in Fact 6. 1 pc. I.D. picture of Attorney in Fact 7. Residence Certificate of Attorney in Fact (cedula) |
Note: Bank Forms will be provided upon Reservation.
· OFWs who are unable to personally sign bank loan documents must submit One (1) copy Consularized Special Power of Attorney (SPA) designating their representative.
Eligibility Requirements
· At least 21 years old but not more than 65 years old upon loan maturity.
· Must have no adverse credit findings with CMAP & NFIS
· NO default in monthly DP payments for 3 consecutive months and/or must not have incurred delays in payments of 5 months or more within the 15-month DP Term.
· Locally employed applicants must submit latest ITR/W2.
If Locally Employed (No Need to Submit initially, unless ask by the Bank after Credit Investigation)
· Latest Income Tax Return (ITR)
· Certificate of Employment with Compensation and 3 mos latest payslip
Note:
The income stated in the Income Tax Return will not be the basis of loan approval. This is just to comply a Central Bank requirement.
Credit Evaluation Process
· Subject only to CMAP/NFIS (Negative File Info System) and
· Personal Data/Residence and Neighborhood checking (PDRN)
· Verification of Income is waived.
Note:
Client must not have legal cases, bad credit card record that result in a legal case or previous bank loan that were not paid.
If Overseas Filipino Worker (OFW) – Metrobank
Consularized SPA is a MUST Requirement when transferring Certificate of Title to Client’s name.
This is required by the Register of Deeds.
Eligible Age of Borrower - Metrobank
Eligible Occupation For OFW
· OFWs who are unable to personally sign bank loan documents must submit One (1) copy Consularized Special Power of Attorney (SPA) designating their representative.
Eligibility Requirements
· At least 21 years old but not more than 65 years old upon loan maturity.
· Must have no adverse credit findings with CMAP & NFIS
· NO default in monthly DP payments for 3 consecutive months and/or must not have incurred delays in payments of 5 months or more within the 15-month DP Term.
· Locally employed applicants must submit latest ITR/W2.
If Locally Employed (No Need to Submit initially, unless ask by the Bank after Credit Investigation)
· Latest Income Tax Return (ITR)
· Certificate of Employment with Compensation and 3 mos latest payslip
Note:
The income stated in the Income Tax Return will not be the basis of loan approval. This is just to comply a Central Bank requirement.
Credit Evaluation Process
· Subject only to CMAP/NFIS (Negative File Info System) and
· Personal Data/Residence and Neighborhood checking (PDRN)
· Verification of Income is waived.
Note:
Client must not have legal cases, bad credit card record that result in a legal case or previous bank loan that were not paid.
If Overseas Filipino Worker (OFW) – Metrobank
- One (1) Copy Consularized Special Power of Attorney (SPA) (Bank Form)
Consularized SPA is a MUST Requirement when transferring Certificate of Title to Client’s name.
This is required by the Register of Deeds.
Eligible Age of Borrower - Metrobank
- 21 yrs old and up
- If Overseas Filipino Worker (OFW), must not be more than 60 yrs. old when loan matures (fully paid)
Eligible Occupation For OFW
- If Immigrant or Dual Citizen, borrower is required to have a co-borrower (regardless of income), who is an immediate family member residing in the Philippines.
- Overseas Filipino Worker (OFW) working in war-torn countries shall not be accepted. Copy of Latest Passport with date of departure and arrival.
In House Financing Requirements
In House (Initial Requirements)
1. Latest proof of income. 2. 3pcs. recent 1 x 1 I.D. pictures 3. Marriage Contract, Birth Certificate, or Separation papers (if needed) 4. Community Tax Cert. No. 5. Complete post dated check for Equity and Amortization 6. TIN |
Additional Requirements for OFW
1. Initial requirements 2. Job Contract 3. Passport 4. Special Power of Attorney (SPA) 5. Valid I.D. of Attorney in Fact 6. 1 pc. I.D. picture of Attorney in Fact 7. Residence Certificate of Attorney in Fact |
Self-Employed
1. Initial Requirements
2. Affidavit of Income
3. Business Name and Permit
4. Passbook with 3 months maintaining balance
5. ITR
1. Initial Requirements
2. Affidavit of Income
3. Business Name and Permit
4. Passbook with 3 months maintaining balance
5. ITR
Procedure in Buying a House Using a Financing Scheme (Bank, In-House)
Month 1 – Day 1 to Day 30: Submission of Requirements (Please refer to financing requirements)
Month 2 – Day 5th or 20th: Ist Monthly Equity or Down payment
Month 3 to 17 or Month 18 to 30 – 1st Half and 2nd Half: Monthly Equity or Down payment
Month 31 to 33 – Last Monthly Equity / Down Payment and Condo Turn-Over
Month 1 – Day 1 to Day 30: Submission of Requirements (Please refer to financing requirements)
Month 2 – Day 5th or 20th: Ist Monthly Equity or Down payment
Month 3 to 17 or Month 18 to 30 – 1st Half and 2nd Half: Monthly Equity or Down payment
Month 31 to 33 – Last Monthly Equity / Down Payment and Condo Turn-Over