Who are qualified to apply for a bank financing loan?
QUALIFIED BORROWERS
Filipino CitizensForeign Nationals (for condominium purchase)
Gainfully employed for the last 2 years
Doing business and profitably operating for the past 3 years
At least 21 years old and not exceed 65 years old at loan maturity
Minimum Gross Monthly Income at least P 40,000
If married, spouse to sign all documentsIf [...]
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PRE-QUALIFICATION REQUIREMENTS for Real Estate Bank Financing Loans
I would like to share with you what will be required of you to secure a Bank Financing Loan depending on your source of income.
If Employed within the Philippines -
Certificate of Employment (COE) with salary and position
Latest Income Tax Return
If Overseas Filipino Worker (OFW)
Crew Contract and Exit Pass [...]
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Posted in Bank Financing, People, Real Estate on Nov 13th, 2007
How much are the Bank Fees when you make a real estate loan in the Philippines?
These are what the loan charges are like for a P1 Million Housing or Condominium loan.
The following are estimates only.
SCHEDULE of LOAN CHARGES
Mortgage Redemption Insurance Premium Php 5,800
Fire Insurance Premium (FIP) P 1,100
Mortgage Registration Fee P 9,000.00
Processing and Notarial Fees P 3,500
Doc Stamps on [...]
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