SECURITY BANK PHILIPPINES LOANS

HOME LOAN

Own your dream home starting at 6.50% and payment terms of up to 20 years.

Types of housing loan one can get from the Bank

• Acquisition of residential house and lot, townhouse, duplex, condominium unit, or residential vacant lot House Construction
• Refinancing/Take-out of existing housing loan from another bank
• Reimbursement of acquisition or construction cost
• Home Equity Loan

Features

• Loan Amount: Up to 80% of appraised value
• Payment Terms: Up to 20 years
• Joint Gross Monthly Income (minimum): PHP 50,000
• Approval Time: 5 banking days
• Minimum Loan Amount: PHP 1,000,000

The loan terms available

• Minimum of 1 year
• Maximum of 25 years for house & lot
• Maximum of 20 years for townhouse or duplex
• Maximum of 15 years for residential vacant lot, or condominium unit

Eligibility

1. At least 21 years old, but not more than 65 years old upon loan maturity
2. Earning a combined monthly income of P50, 000
3. Has been continuously employed for at least 2 years
4. For the self-employed, must be operating a legitimate and profitable business for the last 3 years

Required Documents

1. Home Loan Online Application Form
2. List of Required Documents
3. Special Power of Attorney (SPA)

For Locally-Employed Borrowers:

4. Completely filled out and signed application form
5. Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/ signatories of the loan
6. Any ONE of the following income documents:

• Latest Certificate of Employment and Compensation
• Latest Income Tax Return
• Latest 3 months Pay slips
• Latest 3 months Bank Statements

Note: to credit commission income, kindly submit latest 6 months pay slips

7. Mortgage Redemption Insurance (MRI) Application Form
8. Relevant collateral documents (Section E)

For Self-Employed Borrowers:

9. Completely filled out and signed application form
10. Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/ signatories of the loan
11. Income Tax Return (1701 for sole proprietary owner; or 1702 for Corporation)
12. Any ONE of the following income documents:

• Audited Financial Statements (Latest 1 year)
• Bank statements (Latest 3 months)
• Lease/Rental Contracts

Note: For licensed Real Estate brokers and licensed Insurance brokers, kindly submit latest 12 months proof of income to credit commission-based income

13. Mortgage Redemption Insurance (MRI) Application Form
14. Relevant collateral documents (section E)

For Corporate Borrowers:

15. Completely filled out and signed application form
16. Company profile: background, owners, key officers
17. SEC Registration and General Information Sheet
18. Bank Statements (latest 3 months)
19. Income Tax Return (1702 for Corporation) with Audited Financial Statements for the past 3 years
20. Suppliers contact info (with average monthly transactions)
21. Customer’s contact info (with average monthly transactions)
22. Authorization letter (for bank, business and trade checking)
23. Mortgage Redemption Insurance (MRI) Application Form
24. Relevant collateral documents (Section E)

For OFW Borrowers:

25. Completely filled out and signed application form
26. Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/ signatories of the loan
27. Any ONE of the following income documents:

• Certificate of Employment with compensation (issued within the last 6 months)
• Latest Crew Contract (for seafarer/seaman)
• Latest Employment Contract (for land-based OFWs)
• Allotment Slip
• Latest 3 months pay slip; OR bank statement for past 3 months

Note: For OFWs hired directly abroad, any TWO income documents are required

28. Consularized Special Power of Attorney is needed if with attorney in fact
29. Mortgage Redemption Insurance (MRI) Application Form
30. Relevant collateral documents (Section E)

Collateral Document Requirements

1. Copy of collateral title (TCT/CTC)
2. Copy of Tax Declaration on land and/or improvement
3. Signed Authority to Inspect and Verify (bank form)
4. Appraisal Fee paid to SBC: OR Number
5. Acquisition from Accredited Developer
6. Contract to Sell; or Reservation Agreement
7. Home Construction or Renovation:

• Bill of Materials and Estimates of Construction and Labor Cost
• Floor and Building Plan and Building Specifications

How to Apply

Apply through:

• Accredited Developers
• Online

1. Download Home Loan Application Form together with the requirements and submit at a branch near you.
2. Receive SMS on Application Status
3. Confirm Approval Details via email
4. Sign loan documents
5. Open a Security Bank account
6. Pay bank charges
7. Submit documents for loan release
8. Move in to your new home