Lists of Sterling Bank Home Loan Requirements for Employed Individuals
STERLING BANK HOME LOAN REQUIREMENTS – Listed here are the documents that the Sterling Bank of Asia requires from employed loan applicants.
One of the trusted banks in the Philippines is the Sterling Bank of Asia, a savings bank that is operating in the country for several years now since 2007. It has several offers including loans that attend to different needs.
One of the loans offered by the Sterling Bank of Asia is the Discovery Home Loan, a home loan offer that can finance a residential property acquisition, house construction, and home loan renovation. It is open for both employed and self-employed individuals.
Under the loan offer, you may borrow up to Php 25 million. The loan is payable for up to 25 years thus there is really a chance for light monthly installments and you can pay through post-dated checks or auto-debit arrangements.
In applying for the loan, there are varying Sterling Bank Home Loan requirements for application. In the case of the employed individuals, here is a guide on the documents required by the bank for application:
Locally Employed
- completed and signed Sterling Bank Home Loan Application Form
- copy of two (2) valid government-issued IDs
- proof of payment of appraisal fees payable to Sterling Bank of Asia
- copy of Marriage Contract or other document to support marital status
- proof of income:
- Latest Certificate of Employment with compensation;
- Latest two (2) months pay slips;
- Latest three (3) months bank statements showing salary credits; or
- Latest ITR/BIR form 2316 (mandatory for loans more than Php3.0M)
Overseas Filipino Workers (OFWs)
- completed and signed Sterling Bank Home Loan Application Form
- copy of two (2) valid government-issued IDs
- proof of payment of appraisal fees payable to Sterling Bank of Asia
- copy of Marriage Contract or other document to support marital status
- Latest employment contract or certificate of employment with compensation (issued within 6 months)
- any of the following:
- Latest three (3) months proof of remittance
- Latest three (3) months pay slips or bank statements where salary is credited
Pensioners
- completed and signed Sterling Bank Home Loan Application Form
- copy of two (2) valid government-issued IDs
- proof of payment of appraisal fees payable to Sterling Bank of Asia
- copy of Marriage Contract or other document to support marital status
- proof of income:
- Certificate of Pension; and
- Latest three (3) months bank statements of pension account
Real Estate Brokers/Licensed Insurance Agents/Brokers
- completed and signed Sterling Bank Home Loan Application Form
- copy of two (2) valid government-issued IDs
- proof of payment of appraisal fees payable to Sterling Bank of Asia
- copy of Marriage Contract or other document to support marital status
- proof of income:
- Certificate of Employment with commission earned (issued within 6 months)
- Latest six (6) months bank statement where commission is credited
There is a different set of Sterling Bank Home Loan requirements for the self-employed individuals who want to apply for the offer.
Furthermore, there are also collateral requirements under the Sterling Bank Home Loan offer that you need to submit to the bank.