Sterling Bank Home Loan Requirements You Must Prepare & Submit To Apply

Guide on Sterling Bank Home Loan Requirements for Application

STERLING BANK HOME LOAN REQUIREMENTS – Here are the documents required in applying for the Sterling Bank of Asia Home Loan offer.

In the Philippines, banks are among the entities that you can turn to for a home loan. These are options to fast-track your goal so you can start enjoying the benefits of living in your own house while paying for it in monthly installments.

In the country, one of the banks that you may turn to for the financing of a residential property purchase through a loan is the Sterling Bank of Asia. Its loan offer is ready to finance not only the purchase of a house and lot but as well as the acquisition of a condo unit and townhouse and the renovation of a property.

There are varying Sterling Bank Home Loan requirements as the loan offer is open for both salaried and non-salaried individuals. In the case of employed and self-employed individuals, here are the documents required by the bank:

The Sterling Bank Home Loan offer is also open for Pensioners. Here are the documents required by the bank in the case of pensioners who want to apply for the loan offer:

• completed and signed Sterling Bank  Home Loan Application Form
• copy of two (2) valid government-issued IDs
• proof of payment of appraisal fees payable to Sterling Bank of Asia
• copy of Marriage Contract or other document to support marital status
• proof of income:
  • Certificate of Pension; and
  • Latest three (3) months bank statements of pension account

In the case of Real Estate Brokers/Licensed  Insurance Agents/Brokers, here are the documents required by the bank for application:

• completed and signed Sterling Bank  Home Loan Application Form
• copy of two (2) valid government-issued IDs
• proof of payment of appraisal fees payable to Sterling Bank of Asia
• copy of Marriage Contract or other document to support marital status
• proof of income:
  • Certificate of Employment with commission earned (issued within 6 months)
  • Latest six (6) months bank statement where commission is credited

There are also different sets of Sterling Bank Home Loan requirements in the case of the self-employed individuals. Here is a guide on the documents required by the bank:

Part Owners of a Partnership/Corporation

• completed and signed Sterling Bank Home Loan Application Form
• copy of two (2) valid government-issued IDs
• proof of payment of appraisal fees payable to Sterling Bank of Asia
• copy of Marriage Contract or other document to support marital status
• Latest three (3) months payroll account where claimed salaries are credited
• Latest Individual ITR
• SEC Registration
• Articles of Incorporation / Partnership and By-laws
• General Information Sheet (GIS)

Owners of Sole Proprietorship Business

• completed and signed Sterling Bank Home Loan Application Form
• copy of two (2) valid government-issued IDs
• proof of payment of appraisal fees payable to Sterling Bank of Asia
• copy of Marriage Contract or other document to support marital status
• DTI Registration or Latest Mayor’s Permit to Operate
• Latest ITR with Audited Financial Statements for the last two (2) years
• Latest three (3) months bank statement of working account
• Trade references with complete contact information (business name, complete address, contact person, business phone number). Major clients (at least 3), major supplier (at least 3)

Corporations / Partnership / One-Person Corporation (OPC)

• completed and signed Sterling Bank Home Loan Application Form
• copy of two (2) valid government-issued IDs
• proof of payment of appraisal fees payable to Sterling Bank of Asia
• copy of Marriage Contract or other document to support marital status
• SEC Registration
• Articles of Incorporation / Partnership and By-laws
• Company Profile: Background, Owners, Key Officers
• General Information Sheet (GIS)
• Latest ITR with Audited Financial Statements for the last two (2) years
• Latest three (3) months bank statement of working account
• Trade references with complete contact information (business name, complete address, contact person, business phone number). Major clients (at least 3), major supplier (at least 3)

In the cases of some self-employed individuals, the Sterling Bank of Asia has set additional requirements. Here’s a guide:

Rental Properties

• copy of TCTs/CCTs of rental property
• copy of valid and notarized lease contracts

Transport Business

• copy of LTFRB franchise decision of all units
• copy of OR and CR of all units
• Authorization letter to conduct franchise verification with LTFRB
• copy of valid ID of franchise owner (if not the borrower/applicant)

Practicing Professionals

• Copy of PRC license
• Latest ITR with Audited Financial Statements for the last two (2) years
• Latest six (6) months bank statement of working account with authorization letter to verify
• Clinic/Office address with complete contact details (if applicable)

Construction Business

• Latest contracts showing project cost and expected income of the business

Pawnshops/Money Changer/Forex Dealers/Remittance Agents/Money Service Business (MSB)/Money or Value Transfer Services/Virtual Asset Service Providers (VASP)

• Certificate of Registration issued by BSP
• AMLC Certificate of Registration