Guide on the Requirements for BPI Housing Loan All-In Financing – What You Need to Prepare
REQUIREMENTS FOR BPI HOUSING LOAN – Here is a list of the documents that you need to prepare in applying for all-in housing loan financing of the Bank of the Philippine Islands (BPI).
Nowadays, there are several options that you can turn to if you want to acquire a residential property but on a monthly installment mode of payment. There are banks and lending companies that have excellent offers.
One of the banks that you can turn to is the Bank of the Philippine Islands. It is more commonly known as BPI and its offers include deposits and savings accounts, loans, credit cards, investment products, and insurance policies.
When it comes to the housing loan offer of BPI, one of the best features is that you may apply for the All-In Financing. Truth be told that many aspiring borrowers are not prepared to pay for the bank fees as they the downpayment to attend to.
Under the BPI Housing Loan All-In Financing offer, the bank fees will be added to the loan and you can pay for it in light monthly installments. There are documentary requirements for the BPI Housing Loan All-In Financing application.
List of Requirements for BPI Housing Loan All-In Financing
General Requirements:
- Duly accomplished Application Form
- 2 valid Identification Cards
- If married, both spouses to sign on the application form
- If with co-borrower or co-mortgagor, separate application form is needed
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…
- 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
Collateral Documents:
- lear 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)
Aside from the documentary requirements set by BPI, there are a few qualifications in applying for this housing loan offer. To check if you are eligible to apply for it, you may visit – BPI Housing Loan All-In Financing: Who Are Qualified to Apply for the Offer.