EASTWEST BANK HOME LOAN – How To Apply & Requirements To Prepare

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Guide on How To Apply for the EastWest Bank Home Loan & the Requirements Needed

EASTWEST BANK HOME LOAN – Here is a guide on how to apply for this loan offer and the requirements you need to prepare.

Most people wanted to acquire a house – one that you can truly call your own. Fortunately, it is now a lot more possible with the help of some banks like the EastWest Bank in the Philippines.

The EastWest Bank got several loans offered to the public which could extend a cash assistance for certain purposes including house purchase.

Under the EastWest Bank Home Loan, the purposes covered includes:

  • acquiring a house or condominium unit
  • topping up of an existing loan
  • paying for the home equity
  • home construction
  • reimbursement of the amount spent in purchasing a residential property
  • lot acquisition
EastWest Bank Home Loan

To apply for the EastWest Bank Home Loan offer, here is a guide on what to do:

Step 1 – Gather the requirements needed in applying for the loan offer.

Based on the official website of the bank, here are the general and specific requirements in applying for the home loan:

General Requirements:

  • Duly-Accomplished Application Form
  • Two (2) valid Government-issued IDs

If Employed:

  • Certificate of Employment w/ Compensation (COEC) indicating position and length of service
  • Latest Income Tax Return (ITR)
    • OFW / Seaman – Crew Contract validated by POEA
    • OFW (Direct Hire)
      • COEC w/ original 6-month remittances; or
      • COEC w/ original 6-month payslips; or
      • Consularized Certificate of Employment w/ Compensation (COEC)

If Self-Employed:

  • Business Registration (SEC/DTI)
  • Audited Financial Statements for the last 2 years
  • Updated Interim Financial Statement if most recent AFS is more than 6 months
  • Latest 6-month bank statements w/ authorization to conduct bank verification
  • List of trade references (at least 3 suppliers and 3 customers with telephone numbers and contact persons)
  • Articles of incorporation and By-laws
  • If earning from:
    • Rental of Properties
      • Rental/Lease Contract
      • Photocopy of title
    • Transport Business
      • LTO Certificate of Registration (CR) and Official Receipt (OR)
      • LTFRB Franchise/s
    • Commissions
      • Vouchers and bank statements (for the last 6 month reflecting commissions)
      • Required Collateral Documents
      • Photocopy of Title for Collateral (TCT for land title/CCT for condo title)
      • Appraisal Fee Official Receipt (OR)
      • Tax Declaration (Land and Building)
      • Bill of Materials or Cost Estimate
      • Building Plan or Renovation Plan
      • General Specification or Scope of Work

If practicing doctor:

  • Clinic Address/es and schedule/s

For the purpose of refinancing / loan take-out:

  • Latest Statement of Account from Mortgagor
  • Proof of payment for the last 6 months

Step 2 – Visit the nearest branch of EastWest Bank.

Together with your requirements, head to the branch of EastWest Bank where you wanted to make your application. Have your documents checked by the bank staff or officer.

Step 3 – Wait for the bank’s notice.

The bank will have to evaluate and decide on your loan application. Wait for the notice of the bank regarding the status of your application.

Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.

READ ALSO: EastWest House Loan Interest Rates Implemented by Bank Per Term (List)

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