Guide on the BPI Housing Loan Collateral Requirements for Application
BPI HOUSING LOAN COLLATERAL REQUIREMENTS – Here are the collateral documents that the Bank of the Philippine Islands require.
Are you looking for a bank where you may apply for a Housing Loan? In the country, one of the most popular banking entities that you may turn to is the Bank of the Philippine Islands or more popularly called BPI.
The Bank of the Philippine Islands is one of the most popular and trusted banks in the country that is serving the Filipinos for decades now. It is one the giants in the field with several services for the public including loans.
Aside from the BPI Car Loan offer, the bank also has a Housing Loan that is ready to finance several purpose related to residential properties. It boasts its offer with hassle-free application process and low interest rates.
Countless Filipinos were able to achieve their residential property goals through the Bank of the Philippine Islands. It can financially assist you in residential property purchase, house construction, and home improvements among others.
Under the BPI Housing Loan offer, the property is accepted as the collateral and there are documents that you need to submit in applying for the loan offer. Part of the requirements are the BPI Housing Loan collateral requirements which are as follows:
- Photocopy of Owner’s Duplicate Copy of the Condominium Certificate of Title or Transfer Certificate of Title (as applicable)
- Photocopy of the updated Tax Declaration, Tax Clearance, Tax Receipt
- Signed Authorization Letter for Tax Mapping and Inspection of Property (for properties in secondary market)
- Photocopy of notarized Contract-to-Sell or Offer-to-Sell from registered owner of property (for private sellers)
- Photocopy of notarized Contract-to-Sell / Letter of Endorsement / Official Computation Sheet from developers (for accredited developer tie-up properties)
- Appraisal Fee (for un-accredited projects)
- Non-refundable appraisal fee of Php 5,000 (inclusive of title verification)
- Photocopy of latest Statement of Account with existing mortgagor (for refinancing)
- Complete set of Building Plan, Bill of Materials, Scope of Work/Cost Estimates (for construction loan)
It is important to bring with you the original copies of the aforementioned documentary requirements as the BPI may request for their presentation. Meanwhile, those documents that were stated to be submitted in photocopies retain.