Property Loan Requirements

I. CHECKLIST OF PROCESSING REQUIREMENTS FOR A HOME LOAN IN PAG-IBIG

A. Documentary Requirements
• Housing Loan Application with recent ID photos of borrower
• Membership Status Verification Slip
• Proof of Income
If Locally Employed, any of the following:
• Notarized Certificate of Employment and Compensation (Employer’s format) and latest one (1) month payslip
• Income Tax Return/Certificate of Tax Withheld (BIR Form No. 2316) and latest one (1) month payslip
If Self-Employed/ Other Sources of Income
• ITR, Audited Financial Statements and Official Receipt of tax payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit
• Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months)
• Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittances, pensions, etc.)
• Copy of Lease Contract and Tax Declaration (if income is derived from rental payments)
• Certified True Copy of Transport Franchise issued by appropriate government agency (LGU for tricycles, LTFRB for other Public Utility Vehicle or PUVs)
• Certificate of Engagement issued by owner of business
• Other document that would validate source of income
If Overseas Filipino Workers, any of the following:
• Employment Contract
• Original Employer’s Certificate of Income. If document submitted is photocopy, it shall be duly validated and certified /initialed by HDMF Information Officer assigned in the country where the member works
• Other Proofs of Income, whether original or photocopy, shall be duly validated and certified/initialed by HDMF Information Officer assigned in the country where the member works
• Photocopy (back-to-back) of one (1) valid ID of Principal Borrower and Spouse, Co-Borrower and Spouse, and Attorney-In-Fact, if applicable. The same ID must be presented during the conduct of borrower’s validation
• Authorization to Conduct/ Credit Background Investigation
• For OFW members, Special Power of Attorney notarized prior to date of departure or duly certified and authenticated by the Philippine Embassy or Consulate in the country where the member is staying, if abroad
• Health Statement Form (Medical Questionnaire) and Full Medical Examination for Borrowers over 60 years old
• Marriage Contract (For all married borrower/s, co-borrower/s, spouse, family member/s included on the computation of aggregate income)
• Birth Certificate or any proof of relationship, if with co-borrower/s or family member/s included on the computation of aggregate income

B. Technical Requirements
• Certified true copy of TCT/CCT by the Registry of Deeds (latest title)
• Location Plan and Vicinity Map
• Photocopy of Tax Declaration and Real Estate Tax Receipt
• Additional Requirements Depending on the Loan Purpose.
• For Purchase of Residential Unit, Purchase of Lot and Construction of House, Purchase of Lot
Contract to Sell or similar agreement between the buyer and the seller
• For Purchase of Lot and Construction of House, Construction of House, Home Improvement
Building Plans, Specification and Bill of Materials duly signed by the Licensed Civil Engineer or Architect

II. CHECKLIST OF PROCESSING REQUIREMENTS FOR A HOME LOAN IN A BANK

A. Housing Loan Application Form
• Duly accomplished Application Form
• 2 valid Identification Cards
• If married, both spouses to sign on the application form
• If with co-borrower or co-mortgagor, separate application form is needed

B. Income Documents
If Locally Employed
• Certificate of Employment (COE) indicating salary, position and length of service
• Latest Income Tax Return (ITR) for the last 2 years
If Overseas Filipino Worker
• Contract / Certificate of Employment (COE) authenticated by Philippine Consulate
• Crew Contract and Exit Pass validated by POEA (seaman)
• Proof of monthly remittances
• Notarized or authenticated Special Power of Attorney (BPI FSB Format)
If Self-Employed
• Articles of Incorporation and By-Laws with SEC Registration Certificate
• Audited Financial Statements for the last 2 years
• DTI Registration
• Income Tax Return w/ Statement of Assets and Liabilities (SAL) for the last 2 yrs
• List of Trade References (at least 3 names with telephone nos. of major suppliers/customers)
• Bank Statements for the past 6 months

C. Collateral Documents
• Clear copy of Owner’s Duplicate Copy of TCT/CCT
• Lot Plan with Location/Vicinity Map certified by licensed Geodetic Engineer
• Photocopy of Tax declaration / Tax receipts / Tax clearance
• Endorsement Letter / computation sheet / Contract to Sell from developer stating the contract price