Security Bank Loan Requirements

Security Bank Loan Requirements


Eligibility

  • At least 21 years old, but not more than 65 years old upon loan maturity
  • Earning minimum monthly income of Php 30,000
  • Has been continously employed for at least 2 years
  • For the self-employed, must be operating a legitimate and profitable business for the last 3 years

HOME LOAN DOCUMENT REQUIREMENT CHECKLIST
A. REQUIREMENTS FOR LOCALLY-EMPLOYED BORROWERS

  • Completely filled out and signed application form
  • Clear copy of marriage contract (if married)
  • Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/signatories of the loan
  • Certificate of Employment with Compensation (issued within the last 6 months)
  • Latest Income Tax Return OR Latest 3 months payslips
  • Copy of utility billing (not more than 3 months old)

B. REQUIREMENTS FOR SELF-EMPLOYED BORROWERS / PRACTICING PROFESSIONALS

  • Completely filled out and signed application form
  • Clear copy of marriage contract (if married)
  • Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/signatories of the loan
  • Bank Statements (latest 6 months)
  • Income Tax Return (1701 for sole proprietary owner; or 1702 for Corporation) with Audited Financial Statements for the past 3 years
  • Certificate of Business Registration with DTI (sole proprietorship)

C. REQUIREMENTS FOR CORPORATE BORROWERS

  • Completely filled out and signed application form
  • Company profile: background, owners, key officers
  • SEC Registration and General Information Sheet
  • Bank Statements (latest 6 months)
  • Income Tax Return (1702 for Corporation) with Audited Financial Statements for the past 3 years
  • Suppliers contact info (with average monthly transactions)
  • Customer’s contact info (with average monthly transactions)
  • Authorization letter (for bank, business and trade checkings)

E. REQUIREMENTS FOR OFW BORROWERS

  • Completely filled out and signed application form
  • Clear copy of marriage contract (if married)
  • Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/signatories of the loan
  • Certificate of Employment with compensation (issued within the last 6 months); OR Latest Crew Contract (for seafarer/seaman); OR
  • Employment Contract (for land-based OFWs) duly authenticated by
  • Philippine Consulate or POEA (for nurse and other contract workers)
  • Latest 3 months payslip; OR bank statement for past 3 months

F. COLLATERAL DOCUMENT REQUIREMENTS

  • Copy of collateral title (TCT/CTC)
  • Lot Plan and Vicinity/Location Map
  • Tax Declaration on land and/or improvement
  • Signed Authority to Inspect and verify (bank form)
  • Appraisal Fee: OR Number ______________________________
  • Acquisition from Accredited Developer
  • Contract to Sell; or Reservation Agreement

Home Construction or Renovation:

  • Bill of Materials and Estimates of Construction and Labor Cost
  • Floor and Building Plan and Building Specifications
  • Loan Take-out / Home Equity
  • Proof of amortization for the last 3 months
  • Statement of Account from Mortgagee Bank