Guide on Requirements for BPI Home Loan for Construction Purpose
REQUIREMENTS FOR BPI HOME LOAN FOR CONSTRUCTION – Here is a list of the documents that you need to prepare in applying for the Bank of the Philippine Islands (BPI) Home Loan.
One of the entities that you can turn to for an offer to finance a house construction is the Bank of the Philippine Islands (BPI). To check on how much you may borrow from the bank, you may visit – BPI House Construction Loan: Minimum & Maximum Loanable Amounts
Requirements for BPI Home Loan for Construction Purpose:
A. Housing Loan Application Form
- duly-accomplished BPI Housing Loan application form
- two (2) valid identification cards
If the applicant is married, both spouses should sign the application form. In case the application is done with a co-borrower, there must be a separate application form for the co-borrower.
B. Income Documents
- If locally employed:
- Certificate of Employment (COE) indicating salary, position and length of service
- Latest Income Tax Return (ITR) for the last 2 years
- If overseas Filipino worker (OFW):
- 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 reflecting commission income within the last 6 months
- If from rental or 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)
Do you want to know the interest rate under this BPI home loan offer for construction purpose? Feel free to visit – BPI Home Loan Rates: List of Interest Rates for Home Construction Purpose.