Check here the Landbank OFW Housing Loan Requirements 2025 If You Wish To Apply
LANDBANK OFW HOUSING LOAN REQUIREMENTS 2025 – Here are the qualifications and the documents required for the application to the offer of the government bank.
You might have heard already about the special home loan offer of the Landbank of the Philippines for overseas Filipino workers (OFWs). Through the Bahay para sa Bagong Bayani (3B) loan offer, the government bank wants to ensure that there is an option for OFWs who dream of building their families their own home.
The Landbank OFW housing loan offer is open not only for the financing of a real estate property purchase whether it is a vacant residential lot, a condominium unit, a house and lot, or a townhouse but as well as a house construction and a home renovation. An OFW may also apply for it for the refinancing of an existing home loan with another creditor as well as the assumption of an existing home loan whether with Landbank or not.
The Bahay para sa Bagong Bayani (3B) loan offer is different from the Landbank Easy Home Loan. It is specialized for Pinoys who are working abroad. Thus, it comes with a different set of Landbank OFW housing loan requirements for application.
Before checking on the Landbank OFW housing loan requirements for application, it is best to first check the qualifications under the offer. According to the bank, to be eligible to apply for the loan offer, the OFW-applicant must comply with the following eligibility criteria:
- Filipino citizens
- with a live contract from a reputable company
- 21 years old at the time of the loan application
- not more than 65 years old upon the loan maturity
- clear of adverse credit finding with other creditors
In applying for the offer, aside from the qualifications stated above, the Landbank OFW Housing Loan requirements also include personal and collateral documents from applicants. Here are the personal documents that the government bank requires for the credit analysis:
- duly-accomplished Landbank Bahay para sa Bagong Bayani (3B) Home Loan Application Form with 1″ X 1″ photo
- copy of employment contract
For the appraisal of the property that you wish the bank to finance, part of the Landbank OFW Housing Loan requirements for application are collateral documents or those that pertains to the property. For the purpose of a real estate property acquisition, you need to prepare the following:
- photocopy of Transfer Certificate of Title or Condominium Certificate Title (TCT/CCT)
- photocopy of Tax Declaration (land improvements)
- Latest Real Estate Tax Receipts
- Certified by a Geodetic Engineer
- Lot Plan
- Location and vicinity map
According to the Landbank of the Philippines, in the case of applying for a loan for the financing of a house construction or home renovation, the photocopy of your property’s TCT or CCT is required by the bank.
Aside from loans, the government bank also has credit card offers. You might like to check on the features of the Landbank Classic Credit Card or the Landbank Gold Credit Card.