Guide on EastWest Home Loan Requirements for Application
EASTWEST HOME LOAN REQUIREMENTS you must prepare and submit to the bank if you are an employed individual who want to apply for the loan.
Are you looking for a bank that can help finance your purchase of a residential property? In the Philippines, one of the entities that you may turn to is the EastWest Bank which is operating in the country for several years now.
It can help finance the purchase of a residential property, a house construction, and a reimbursement of a residential property purchase. It can also provide you with funds using the value of your residential property or the paid portion of an existing home loan.
In applying for the loan offer, there are EastWest Home Loan requirements that must be prepared and submitted to the bank for application. In the case of the employed individuals, here is a guide on the documents required by the bank for application:
Locally-Employed Individuals
- duly-completed and signed EastWest Bank Home Loan Application Form
- two (2) valid government-issued IDs
- Certificate of Employment w/ Compensation (COEC) indicating position and length of service
- Latest Income Tax Return (ITR)
OFW — Direct Hire
- duly-completed and signed EastWest Bank Home Loan Application Form
- two (2) valid government-issued IDs
- COEC w/ original 6-month remittances; or
- COEC w/ original 6-month payslips; or
- Consularized Certificate of Employment w/ Compensation (COEC)
OFW — Seaman
- duly-completed and signed EastWest Bank Home Loan Application Form
- two (2) valid government-issued IDs
- Crew Contract validated by POEA
- Attorney-in-fact’s ID and application form
Also part of the EastWest Home Loan requirements are collateral documents which depend on the purpose of the loan application. Here is a guide on the collateral requirements set by the bank:
Residential Property Acquisition
- photocopy of Title for Collateral (TCT for land title/CCT for condo title)
- Tax Declaration (Land and Building)
- Appraisal Fee Official Receipt (OR)
- If buying from accredited developer:
- Copy of CTS
- Copy of SOA/Payment Schedule
- If buying from secondary market/individual seller:
- Copy of Title
- Appraisal fee payment – Php 3,500 Metro Manila / Php 5,000 outside Metro Manila
House Construction
- Bill of Materials or Cost Estimate
- Building Plan or Renovation Plan
- General Specification or Scope of Work
Refinancing/Loan Take-out
- Latest Statement of Account from Mortgagor
- Proof of payment for the last 6 months (Official Receipts or cleared checks with Bank Statements or Ledger)