Guide on the Requirements for Security Bank Home Loan Offer
(Locally Employed Applicants)
REQUIREMENTS FOR SECURITY BANK HOME LOAN – Here are the specific documents that the bank requires from locally employed applicants.
Banks are among the entities that offer home loans. The offers come with different features – qualifications, documentary requirements, loanable amounts, loan terms, and application process. One of these is Security Bank.
The Home Loan offer of Security Bank is open for locally employed individuals. Below, you can check the details about the loan including the requirements for Security Bank Home Loan offer.
Who are qualified to apply for the loan offer? The Security Bank Home Loan is open for both employed and self-employed individuals. To be eligible for the loan offer, the borrower-applicant must be:
- at least 21 years old upon the loan application but not older than 60 years old upon the loan maturity
- earning a household income of at least Php 50,000.00 monthly
- employed for at least 2 years or self-employed and running a legitimate and profitable business for at least 3 years already
Prior to pursuing a loan application, you can check the estimate of the amount that you may borrow under the offer. To do it, kindly visit – SECURITY BANK HOME LOAN – How Much You Can Borrow Under This Offer.
List of Requirements for Security Bank Home Loan Offer:
- duly-accomplished and signed Security Bank Loan Application Form
- clear copy of one (1) valid ID
- any of the following income documents (latest copy):
- Certificate of Employment and Compensation
- Income Tax Return
- 3 Months Payslips
- 3 Months Bank Statements
- Mortgage Redemption Insurance (MRI) Application Form
- Relevant Collateral Documents
- copy of Collateral Title
- copy of Tax Declaration on Land and/or improvement
- Appraisal Fee paid to SBC: OR Number
- Acquisition from Accredited Developer
- Contract to Sell or Reservation Agreement
- Home Construction or Renovation
- Bill of Materials and Estimates of Construction and Labor Cost
- Floor and Building Plan and Building Specification
- Loan Take-Out / Home Equity
- Proof of amortization payments for the last 3 months
- Statement of Account from Mortgage Bank
You may also visit – Security Bank Personal Cash Loan: How To Apply & the Requirements You Must Prepare