Lists of BPI Home Loan Requirements for Application Process
BPI HOME LOAN REQUIREMENTS – Listed here are the documents required by the Bank of the Philippine Islands in applying for the offer.
In the country, one of the reputable banks that have gained the trust of countless Filipinos is the Bank of the Philippine Islands. More popularly called BPI, it has several branches across the nation thus its offers are really accessible to the public.
BPI got different savings and checking account offers, loans, credit cards, insurance policies, and investment products among others. One its loan offers is the BPI Home Loan which can finance several purposes including the following:
- acquisition of a residential property
- house construction
- home renovation
- home refinancing
The Home Loan offer is open for both locally-employed and self-employed individuals as well as overseas Filipino workers (OFWs). Under the offer, the bank offers excellent payment solutions as you may avail an all-in financing for zero downpayments or a step-up payplan so you can start with low monthly amortizations.
To apply for the offer, there are BPI Home Loan requirements that you need to prepare and submit to the bank in applying for the loan. The lists of the required documents vary depending on the nature of the employment or the source of income of the loan applicant.
Here is a complete guide on the BPI Home Loan requirements for application:
If you are locally-employed, prepare the following documents:
- duly-accomplished BPI Home Loan Application Form
- Latest COE
- Latest 3 months pay slip
- Latest ITR
- Authorization letter to verify employment
If you are self-employed, prepare the following documents:
- duly-accomplished BPI Home Loan Application Form
- Valid DTI Registration or Mayor’s Permit
- Latest ITR with audited financial statements
- Working account (6mos) with authorization letter to verify
- Trade references with complete contact information (business name, complete address, contact person, business phone number) * Major suppliers (at least 3) * Major clients (at least 3)
- Authorization letter to conduct trade verification
If you are an OFW, prepare the following documents:
- duly-accomplished BPI Home Loan Application Form
- Latest Contract, with authorization letter to verify
- Proof of bank remittance, with authorization letter to verify
- Details of crewing manager for seafarers
- Attorney-in-Fact / loan administrator
If you are a pensioner, prepare the following documents:
- duly-accomplished BPI Home Loan Application Form
- Certificate of Pension, with authorization letter to verify
- Bank statements of pension account, with authorization letter to verify
- SSN
If you are a practicing professional, prepare the following documents:
- duly-accomplished BPI Home Loan Application Form
- Working account with authorization letter to verify
- Latest ITR with audited financial statements
- Clinic/office address with complete contact details (as applicable)
Part of the BPI Home Loan requirements are collateral documents depending on the purpose of the loan application. Here are the documents required by the bank in the applying for the loan offer based on the purpose of the loan application:
For Property Acquisition and Home Renovation:
- 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)
For House Construction:
- complete set of Building Plan, Bill of Materials, Scope of Work/Cost Estimates (for construction loan)
- photocopy of the updated Tax Declaration, Tax Clearance, Tax Receipt
- photocopy of Owner’s Duplicate Copy of the Condominium Certificate of Title or Transfer Certificate of Title (as applicable)
- photocopy of notarized Contract-to-Sell or Offer-to-Sell from registered owner of property (for private sellers)
- Signed Authorization Letter for Tax Mapping and Inspection of Property (for properties in secondary market)
- Appraisal Fee (for un-accredited projects)
- photocopy of notarized Contract-to-Sell / Letter of Endorsement / Official Computation Sheet from developers (for accredited developer tie-up properties
- non-refundable appraisal fee of Php 5,000 (inclusive of title verification)
