CHINA BANK PHILIPPINES HOME LOANS

REFINANCING

Borrower Eligibility

1. Filipino, of legal age but not more than 65 years old upon loan maturity
2. With steady, dependable & verifiable source of income
3. Employed for at least 3 years in a supervisory/managerial position with a reputable company (for employed individuals)
4. Minimum Gross Monthly Income (GMI):

• P50,000/mo. for Metro Manila / Metro Cebu
• P35,000/mo. for other provincial areas

5. Able to pay an Equal Monthly Amortization which is:

• 35% of GMI and
• 75% of Net Disposable Income (NDI)

6. No adverse credit findings like court cases, bouncing checks, unpaid loans, canceled credit cards, etc.

Requirements for Loan Approval Processing

1. Identification Papers (TIN, Community Tax Certificate, Passport, Company ID, Driver’s License)
2. Marriage Contract (if married)
3. Bio-data/Resume
4. Deposit Statements of Accounts (last 6 months)

EMPLOYED INDIVIDUALS

5. Latest Income Tax Return (ITR)/W-2 Form
6. Certificate of Employment stating length of service and monthly compensation package

SELF-EMPLOYED INDIVIDUALS

7. Audited Financial Statements and ITR for the last 3 years (BIR stamped)
8. Certificate of Registration of Business Name
9. Business Profile
10. Complete list of suppliers and clients

Collateral Requirements

1. Transfer/Condominium Certificate of Title of unit and parking slot, (if any)
2. Current Tax Declaration (unit and parking slot, if any)
3. Current Tax Receipts (unit and parking slot, if any)
4. Current Tax Clearance (unit and parking slot, if any)
5. Location Plan
6. Latest Statement of Account
7. Bank Ledger/Official Receipts

BANK FORM

• Loan Application
• Mortgage Redemption Insurance (MRI) Application

FOR OFWs

1. Certificate of Employment stating length of service and monthly compensation package
2. POEA Contract
3. ITR (if any)
4. Pay slips (last 6 months)
5. Special Power of Attorney (Bank Form)
   All documents have to be authenticated by the Philippine Embassy/Consul if issued abroad

Insurances and Fees Required

• P3,500 Filing Fee (non-refundable)
• Processing Fee
• Mortgage Registration Expenses
• Documentary Stamp Tax
• Mortgage Redemption Insurance (MRI) Premium
• Fire/Earthquake Insurance Premium

REIMBURSEMENT

Borrower Eligibility

1. Filipino, of legal age but not more than 65 years old upon loan maturity
2. With steady, dependable & verifiable source of income
3. Employed for at least 3 years in a supervisory/managerial position with a reputable
4. company (for employed individuals)
5. Foreigners (to purchase a condominium unit) – with permanent residency in the Philippines of at least 5 years
6. Minimum Gross Monthly Income (GMI):

• P50,000/mo. for Metro Manila / Metro Cebu
• P35,000/mo. for other provincial areas

7. Able to pay an Equal Monthly Amortization which is:

• 35% of GMI
• 75% of Net Disposable Income (NDI)

8. No adverse credit findings like court cases, bouncing checks, unpaid loans, canceled credit cards, etc.

Requirements for Loan Approval Processing

1. Identification Papers (TIN, Community Tax Certificate, Passport, Company ID, Driver’s License)
2. Marriage Contract (if married)
3. Bio-data/Resume
4. Deposit Statements of Accounts (last 6 months)

EMPLOYED INDIVIDUALS

5. Latest Income Tax Return (ITR)/W-2 Form
6. Certificate of Employment stating length of service and monthly compensation package

SELF-EMPLOYED INDIVIDUALS

7. Audited Financial Statements and ITR for the last 3 years (BIR stamped)
8. Certificate of Registration of Business Name
9. Business Profile
10. Complete list of suppliers and clients

Collateral Requirements

1. Transfer Certificate of Title
2. Current Tax Declaration
3. Current Tax Receipts
4. Current Tax Clearance
5. Location Plan

BANK FORM

• Loan Application
• Mortgage Redemption Insurance (MRI) Application

FOR OFWs*

1. Certificate of Employment stating length of service and monthly compensation package
2. POEA Contract
3. ITR (if any)
4. Pay slips (last 6 months)
5. Special Power of Attorney (Bank Form)
   All documents have to be authenticated by the Philippine Embassy/Consul if issued abroad

Insurances and Fees Required                         

1. P3,500 Filing Fee (non-refundable)
2. Processing Fee
3. Mortgage Registration Expenses
4. Documentary Stamp Tax
5. Mortgage Redemption Insurance (MRI) Premium
6. Fire/Earthquake Insurance Premium, if applicable