How Can a Foreigner/Non-Filipino Apply a BDO Loan for Financing Condominium?
For those who are asking questions whether a foreigner/non-Filipino can be accepted or allowed to apply for BDO (Banco de Oro) loan for financing a condominium. Yes, a foreigner is allowed to loan in BDO if he/she meets the needed requirements.
Filipino citizen or foreigner (see Visa requirements)
At least 21 years old but not exceeding 65 years old upon loan maturity
Minimum gross family income of Php 50,000.00/month.
Stable source of income from employment or business
If employed, at least 2 years with current company
If self-employed, at least 3 profitable years of operation (if with business) or 3 years practicing profession (if practicing professional)
Signed BDO application form
Photocopy of 1 valid government-issued ID with photo & signature
Marriage Contract, if applicable
For foreigners, photocopy of Alien Certificate of Registration (ACR) showing Visa status as permanent immigrant or Alient Employment Permit (AEP) or Visa ID
If locally employed
Latest Income Tax Return (ITR) or W2, and
Latest 3 months payslips or Certificate of Employment with salary breakdown
If employed abroad (or Asenso Kabayan borrowers)
Latest 3 months proof of remittance, or
Latest 3 months payslip, or
Certificate of Employment or Employment Contract duly authenticated by Philippine Consulate Office, or
For seamen, latest Crew Contract and employment history or Crew Contract and Exit Pass from POEA
Business Registration Papers (Certificate of Registration from DTI or
SEC, Articles of Partnership or Articles of Incorporation, whichever is applicable)
Latest Audited Financial Statements for the last 2 years with latest ITR
Bank Statements (latest consecutive 3 months)
Trade References: List of Suppliers and Customers (at least 3 each)
or List of Affliated Hospitals/Clinics (for doctors)
Lease Contracts and copy of title (for income derived from rental)
Types of Acceptable Visa for Foreigners
Quota or Non-Quota Immigrant Visa
Alien spouse of a Filipino citizen (Sec 13A Visa)
Natural-born Filipinos married to an Alien (Sec 13D Visa)
Returning Resident (Section 13E Visa)
Natural-born Filipinos naturalized in foreign country (Sec 13G Visa)
Photocopy of Special Retiree's Resident Visa (SRRV) or Quota/Preference Immigrant Visa
Permanent Resident Status and working Visa granted by Subic Bay Metropolitan Authority (SBMA)
Working Visa issued to Embassy Officials
Photocopy of TCT / CCT
Lot Plan with Vicinity Map certified by a Geodetic Engineer
Master Deed of Declaration of Restrictions (for condominiums)
Do you have any concern with regarding foreigner's getting a BDO loan for a condominium?
"How Can a Foreigner/Non-Filipino Apply a BDO Loan for Financing Condominium?" was written by admin under the Banking category. It has been read times and generated 0 comments. The article was created on .
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