Step by Step Guide: Paano Mag-Apply ng Bank Home Loan | Requirements | Real Estate Philippines
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- Опубліковано 4 жов 2024
- PAANO MAG-APPLY NG HOME LOAN THRU BANK FINANCING
(Step by Step Guide and Requirements)
Whether you're dreaming of your first home or looking to upgrade, we've got you covered. So, let's dive right into it!
2 Keypoints:
1) Requirements
2) Step by Step Process
Before we jump into the application process, let's get the borrower's requirements that you need to submit:
CHECKLIST OF REQUIREMENTS:
2 Valid IDs: Gather government-issued IDs like your passport, driver's license, PRC ID, TIN ID, or SSS/GSIS ID.
Proof of Income: Prepare your latest 3 months payslips, your latest income tax returns (ITR), or business financial statements for the past 2-3 years.
Certificate of Employment: Request a COE from your employer, including your salary, position, and length of service.
Bank Statements: Provide your bank statements for the last six months to demonstrate financial stability.
Collateral Documents: Ensure you have the property's title, tax declaration, and location plan. Skip this requirements if you are buying from developer because the developer will provide this with their partner bank.
Home Loan Application Form: Complete the bank's application form thoroughly.
Now, let's break down the step-by-step guide to applying for a bank home loan in the Philippines. This guide is for buyers who are looking to buy a property from a developer thru bank financing
Step 1: Choose Desired Property
Research and compare different properties, their location, price, monthly downpayment, etc. Go to a tripping or view the property. Choose the one that suits your needs and preferences.
Step 2: Pay the Reservation & Downpayment
Once you have chosen your desired property, pay the reservation fee and pay your downpayment/ cash out to the developer.
Step 3: Submit Your Requirements & Application
Gather all the required documents we discussed earlier and double-check them for accuracy and completeness.
Step 4: Wait for Loan Approval
The bank will review your application and documents. This process may take a few weeks (3-4 weeks). Be patient and ready for any additional requirements from the bank.
Step 5: Loan Approval
Once your application is approved, you'll receive a Letter of Approval (LOA/NOA) from the bank thru email or SMS.
Step 6: Loan Signing
The bank will schedule a loan signing. You have to carefully review the loan terms and conditions, and sign the necessary loan documents.
Step 7: Loan Release / Takeout
The bank will release the loan amount to the developer, and the developer will now process the title transfer under your name.
Congratulations, the property can now be turned over and you will now officially become a homeowner!
And there you have it, a step-by-step guide to applying for a home loan through bank financing in the Philippines. Remember, it's essential to do your homework, prepare your documents meticulously, and choose the right bank that aligns with your homeownership goals.
If you found this guide helpful, don't forget to give it a thumbs up and subscribe for more valuable content. Best of luck on your journey to becoming a homeowner, and thank you for tuning in!
If you want to watch my previous episodes for the BANK FINANCING series, click the links below:
EPISODE 1 - 5 Property Financing Methods in Buying Real Estate
• From Savings to Succes...
EPISODE 2 - TIPS ON BANK HOME LOAN FINANCING FOR FIRST-TIME HOMEBUYERS
• TIPS ON BANK HOME LOAN...
EPISODE 3 - How to Get Approved with Bank Home Loan in Philippines | Real Estate Tips & Tricks | Bank Criteria
• How to Get Approved wi...
FOR INQUIRIES, QUOTE OR TO SCHEDULE HOUSE VIEWING
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THE REAL ESTATE BROKER
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Hi! Welcome to my channel. I'm a licensed real estate broker based in Imus Cavite and thank for watching my vlogs! 😊
LESLIE LAZARTE
Real Estate Broker
PRC License No. 0013570
PRC ID: 19-3177356
PTR: 1515512 valid until Dec. 31, 2022
HLURB DHSUD Reg. No. NCR-B/005031 12/31/22
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/ leslielazarte
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salamat mam more vid pa, napaka linaw pio ng paliwanag nyo
Thank you 😊
bakit ganun di nmn ako nag lloan pero meron pumunta sa bahay para mag c.i .... tpos sasabhin 3rd party daw sila
Hello ma'am if ofw anu po ang requirements?Sana mapansin po ninyo ang comment ko
Thank you for sharing info.
Thank you for this video
Ask ko lang po , 2years to pay po yung house for downpayment sa developer.
starting november 2023 and now po may 2024 nagpprocess na po for bank loan requirements. kapag po ba naaprubahan na sa bank loan, magstart na po ba ng payment sa bank? plus ung downpayment monthly sa developer?
Paanu po kung may comaker hinehinge an din ng requirements?
I have 3 full time clients. How do i go about that?
Hello, how about bank charges po like registration, etc during signing? Pwede po bank installment ito? Thank you.
Maam, kelangan po ba ideclare sa bank kapag me housing loan na sa Pag-ibig? Or kahit hindi na
Good day Po ka Bahay
Ask ko lang is there change to have a housing loan without collateral?
Like the lots I'm planning to build a house is in Mother tittle
How about the Bank Fees processing?
Anu po step if yung bibilhin mong property is hindi na nakapangalan sayo at yun ang gusto mo ipasok na collateral
😂😂😂
hello po applicable din ba ito sa resort?
paano pag ofw maam need pa ba spa dyan sa pilipinas?
Mam paano po pag nasa abroad ?
Pano kung ndi sa developer,merong owner n ibebenta nia ung bhay,ippasok nmn ng buyer sa bank financing
same Q sana po masagot itong tanong na to
Ma'am interested.
Pano po pag walang developer involved gaya po ng fully owned house and lot pero gusto mo iavail via bank loan applicable rn po ba tong mga req na to at steps na to?
I have the same question. Hope meron mag reply.
yes po same rin process kaibahaan lang ung seller ang mag aaus ng mga needed ng bangko sa kanila ganyan po ginawa ko waiting for approval na lang ng bank