Lists of Sterling Bank Home Loan Requirements for Self-Employed Individuals
STERLING BANK HOME LOAN REQUIREMENTS – Listed here are the documents that the Sterling Bank of Asia requires from self-employed loan applicants.
Undeniably, there are several banks in the Philippines that offer home loans. If you are looking for a reputable one, one of the entities that you may turn to is the Sterling Bank of Asia.
The Sterling Bank of Asia is ready to finance a purpose related with residential properties under its Discovery Home Loan offer. You may borrow up to 90% of the total contract price (TCP) of the property under the offer and there are options for light monthly installments.
With the Discovery Home Loan offer, you do not have to wait for several years to finally be living in a house you can call your own. It can be a house and lot, a townhouse, a condo unit, or any other types of residential properties.
The loan offer is not only open for the employed individuals but as well as the self-employed individuals who wish to apply for the offer. Here are the Sterling Bank Home Loan requirements for the self-employed loan applicants:
Part Owners of a Partnership/Corporation
- completed and signed Sterling Bank Home Loan Application Form
- copy of two (2) valid government-issued IDs
- proof of payment of appraisal fees payable to Sterling Bank of Asia
- copy of Marriage Contract or other document to support marital status
- Latest three (3) months payroll account where claimed salaries are credited
- Latest Individual ITR
- SEC Registration
- Articles of Incorporation / Partnership and By-laws
- General Information Sheet (GIS)
Owners of Sole Proprietorship Business
- completed and signed Sterling Bank Home Loan Application Form
- copy of two (2) valid government-issued IDs
- proof of payment of appraisal fees payable to Sterling Bank of Asia
- copy of Marriage Contract or other document to support marital status
- DTI Registration or Latest Mayor’s Permit to Operate
- Latest ITR with Audited Financial Statements for the last two (2) years
- Latest three (3) months bank statement of working account
- Trade references with complete contact information (business name, complete address, contact person, business phone number). Major clients (at least 3), major supplier (at least 3)
Corporations / Partnership / One-Person Corporation (OPC)
- completed and signed Sterling Bank Home Loan Application Form
- copy of two (2) valid government-issued IDs
- proof of payment of appraisal fees payable to Sterling Bank of Asia
- copy of Marriage Contract or other document to support marital status
- SEC Registration
- Articles of Incorporation / Partnership and By-laws
- Company Profile: Background, Owners, Key Officers
- General Information Sheet (GIS)
- Latest ITR with Audited Financial Statements for the last two (2) years
- Latest three (3) months bank statement of working account
- Trade references with complete contact information (business name, complete address, contact person, business phone number). Major clients (at least 3), major supplier (at least 3)
There are also additional Sterling Bank Home Loan requirements in specific cases based on the nature of business. Here is a guide on the additional documents that you need to prepare and submit to the bank in applying for the loan offer:
Rental Properties
- copy of TCTs/CCTs of rental property
- copy of valid and notarized lease contracts
Transport Business
- copy of LTFRB franchise decision of all units
- copy of OR and CR of all units
- Authorization letter to conduct franchise verification with LTFRB
- copy of valid ID of franchise owner (if not the borrower/applicant)
Practicing Professionals
- Copy of PRC license
- Latest ITR with Audited Financial Statements for the last two (2) years
- Latest six (6) months bank statement of working account with authorization letter to verify
- Clinic/Office address with complete contact details (if applicable)
Construction Business
- Latest contracts showing project cost and expected income of the business
Pawnshops/Money Changer/Forex Dealers/Remittance Agents/Money Service Business (MSB)/Money or Value Transfer Services/Virtual Asset Service Providers (VASP)
- Certificate of Registration issued by BSP
- AMLC Certificate of Registration
Aside from the personal documents of the borrower, there are a few collateral documents required by Sterling Bank of Asia in applying for the loan. The collateral requirements set under the Sterling Bank Home Loan offer depends on the purpose of the loan application and whether or not the property is under accredited developers.
