List of Requirements for Sterling Bank Loan Offer for Residential Property Purchase
REQUIREMENTS FOR STERLING BANK LOAN – Here is a guide on the documents you must submit in applying for the Sterling Bank of Asia’s Home Loan offer.
One of the best investments is a residential property. Truths be told that the lot price only goes higher as years pass by. Also, it is a security that you and your loved ones are living a place you can call your own.
However, another truth is that not everyone is ready for a one-time full-payment for a residential property. It may cause hundreds of thousands up to multi-millions depending on the property that you wish to acquire.
What do you want to have? A house and lot, a condominium unit, or townhouse? You might be one of those who desire to just purchase a lot and design the house you wanted to build.
If you are not still financially ready for a one-time full payment but you really wanted to buy a house, you may consider applying for loans. There are several banks that have the said offer including the Sterling Bank of Asia.
The Sterling Bank Home Loan is open to assist the purchase of a vacant residential lot, a house and lot, a condominium unit, or a townhouse. It can also help you fund a home renovation.
Like in other loans, there are eligibility requirements in applying for this loan offer. To check if you are qualified, you may visit – Sterling Bank Home Loan – Who Are Qualified To Apply For this Loan Offer.
You might also check on the loanable amounts under it. Feel free to visit – Sterling Bank House Loan – Minimum & Maximum Loanable Amounts.
There are requirements for Sterling Bank Loan offer to purchase a house. Here is a list of the documents that you must prepare:
General Requirements:
- Accomplished loan application form
- Photocopy of TCTs/CCTs offered as collateral
- Vicinity map, lot plan, tax declaration
- Tax clearance and RETRs
- Bill of materials / cost estimates and floor plans (for house construction/renovation/expansion)
- Copy of two (2) valid IDs
- Marriage contract (if married)
- Cash or check payment for appraisal fee payable to Sterling Bank of Asia
- Credit card/utility billing statements for the past three (3) months
- Statement of account (for loan take-out) and proof of payment of last three (3) amortizations
- Authority to appraise
Additional Requirements for Sterling Bank Loan Offer Based on Source of Income:
- For self-employed applicants…
- Business papers / permits / certificates (SEC, DTI, etc.)
- Three (3) years audited or BIR filed and in-house financial statements
- Accomplished basic business information
- Bank statements for the last three (3) months
- For locally employed applicants…
- Income tax return (ITR) for the past two (2) years
- ITR of co-maker (if applicable) or W-2/BIR Form 2316
- Original certificate of employment (COE) with compensation data and length of stay in the company
- Two (2) months payslip
- For applicants employed overseas…
- Recent and active certificate of employment (COE) with salary and/or compensation data
- ITR, if any
- Proof of remittances or allotment papers with beneficiary data
- Copy of job contract with duties and responsibilities
- Special power of attorney (SPA)
- Proof of income (if any)
Thank you for visiting our website. We hope we have helped you with regards to this Sterling Bank loan offer. You may keep coming back for more informative guides.
READ ALSO: BANK PERSONAL LOANS – List of Personal Loans & their Loanable Amounts
