Guide on the Requirements for Landbank Home Loan Application Process
REQUIREMENTS FOR LANDBANK HOME LOAN – Listed below are the documents needed in applying for the Easy Home Loan offer.
One of the biggest moves that you can ever do is to purchase a residential property or build a house. It requires a huge amount of money. Meanwhile, there are entities that you may turn to for loans just like the Landbank of the Philippines.
The Landbank of the Philippines is a government banking entity in the country. It actually has several loan offers which includes the Easy Home Loan offer. It is open for the public unlike the Landbank Home Loan offer for OFWs. It is actually open to finance several purposes related to residential properties.
You may apply for the Landbank Easy Home Loan offer to finance any of the following purposes:
- purchase of a residential property such as…
- Townhouse
- Condominium unit
- Vacant Lot
- House and lot
- Other residential unit
- Construction of a residential building on a lot owned by the borrower
- Refinancing of existing housing loan with other banks or financing firms or developers’ in-house financing-provided account is in “current status”
There is a short list of eligibility requirements for the Landbank Home Loan application. To qualify for the offer, the borrower must be:
- a Filipino citizen
- at least 21 years old upon the loan application but must not be more than 65 years of age upon loan’s maturity
- gainfully employed or with lawful and profitable business
With regards to the documentary requirements for the Landbank Home Loan application, it depends if the borrower is an employed individual or a private individual owning a business or with an established source of income. Here are the documents needed:
Employed Individuals
- Personal Information Data Sheet
- Certificate of employment
- Latest pay slip indicating net take home pay of borrower
- Any two of the following latest Billing Statements:
- Electric Bill
- Phone Bill
- Water Bill
- Credit Card Bill
- TV Subscription Bill
Private individuals owning their business / With established source of income:
- Business Registration and Licenses
- Biodata
- BIR-stamped Financial Statements and Income Tax Returns for the last three years
In the case of purchasing a condominium unit, here are the documents required by Landbank under the Home Loan offer:
- Master Deed of Restriction
- Building and Unit Floor Plan
- HLURB Permit to Sell
- HLURB Locational Clearance