Check Here the Security Bank Home Loan Requirements for Application
SECURITY BANK HOME LOAN REQUIREMENTS – Here are the documents required by the Security Bank in applying for its offer.
In applying for any loan, there is a list of documents that the aspiring loan applicant must prepare and submit to the lender. The same is true in the case of the Security Bank Home Loan offer.
The Security Bank loan offer is open to finance residential properties acquisitions, home constructions, home renovations, refinancing of existing home loan, and home acquisition or construction reimbursements.
The bank also accepts a residential property as the collateral for a multi-purpose cash loan. The Security Bank Home Loan requirements depend if the loan applicant is locally-employed, self-employed, an overseas Filipino worker (OFW), or a partnership or corporation.
Here is a guide on the Security Bank Home Loan requirements for application:
Locally-Employed
- Filled out and signed application form
- Clear copy of one valid ID (photo-bearing government-issued) of borrower/spouse/co-borrower/ signatories of the loan
- Any ONE of the following income documents:
- Latest Certificate of Employment and Compensation
- Latest Income Tax Return
- Latest 3 months Payslips
- Latest 3 months Bank Statements
Self-Employed
- Filled out and signed application form
- Clear copy of one valid ID (photo-bearing government-issued) of borrower/spouse/co-borrower/ signatories of the loan
- Income Tax Return (1701 for sole proprietary owner; or 1702 for Corporation)
- Any ONE of the following income documents:
- Audited Financial Statements (Latest 1 year)
- Bank statements (Latest 3 months)
- Lease/Rental Contracts
Corporation
- Filled out and signed application form
- Company profile: background, owners, key officers
- SEC Registration and General Information Sheet
- Bank Statements (latest 3 months)
- Income Tax Return (1702 for Corporation) with Audited Financial Statements for the past 3 years
- Suppliers’ contact info (with average monthly transactions)
- Customer’s contact info (with average monthly transactions)
- Authorization letter (for bank, business, and trade checkings)
- Mortgage Redemption Insurance (MRI) Application Form
- Relevant collateral documents
Overseas Filipino Worker (OFW)
- Filled out and signed application form
- Clear copy of one valid ID (photo-bearing government-issued) of borrower/spouse/co-borrower/ signatories of the loan
- Any ONE of the following income documents:
- Certificate of Employment with compensation (issued within the last 6 months)
- Latest Crew Contract (for seafarer/seaman)
- Latest Employment Contract (for land-based OFWs)
- Allotment Slip
- Latest 3 months payslip; OR bank statement for past 3 months
There are also Security Bank Home Loan requirements pertaining to the collateral or the property. Here are the documents required by the bank:
- Copy of collateral title (TCT/CTC)
- Copy of Tax Declaration on land and/or improvement
- Signed Authority to Inspect and Verify (bank form)
- Appraisal Fee paid to SBC: OR Number
For the purpose of house construction financing, Security Bank requires the submission of the Bill of Materials and Estimates of Construction and Labor Costs as well as the Floor and Building Plan and Building Specifications.
In the case of applying for a loan for the take-out of an existing home loan or to use a property for a home equity loan, the bank requires a proof of amortization payments for the last 3 months and a statement of Account from Mortgagee Bank.
