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How Can a Foreigner/Non-Filipino Apply a ChinaBank Loan for Financing Condominium?

I have a friend (foreigner/non-Filipino). He wants to buy a condo through bank financing. He chooses ChinaBank. Do you accept foreigners (example: American) to loan? Can the girlfriend or wife co-sign? Please answers my questions. Hoping for your immediate reply.
 
asked by Jun Lee
 
 
ChinaBank condo loan for foreigners/non-Filipino
 
Answer
 
Yes, Foreigners or non-Filipinos may apply for a loan in ChinaBank provided that the attorney in fact, or co-borrower is living here in the Philippines.
 
For your possible co-maker or co-sign, kindly refer to requirements below:
 
IF EMPLOYED:
  • Certificate of Employment stating length of service and monthly
  • Income Tax Return or ITR (if any)
  • Special Power of Attorney (Bank Form)
  • 2 valid ID's
 
IF SELF-EMPLOYED:
  • Certificate of Registration with the Securities and Exchange Commission (SEC) or Department of Trade and Industry (DTI)
  • Financial Statements (Audited)
  • Latest Income Tax Return (ITR) with Statement of Assets and Liabilities
  • 2 valid ID's
Special Power of Attorney (Bank Form, 5 copies)
 
Preferably, co-maker needs to be related to you ( relative ) no specific salary ceiling needed. Still, it will be subject for credit approval process.
 
You can read more information of ChinaBank home or condo loan at http://chinabank.ph/personal.aspx?title=HomePlus+Loan
 
On the right portion of the site, the requirements for the different type of Home Loans may be displayed. There is also a Loan Calculator that will assist you in the computation of the monthly amortization of your planned loan amount. You may also contact our Loans Unit at 885-5555.
 
We hope this addresses your concern. If you need further assistance, please do not hesitate to post a comment below.
 
 
 

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"How Can a Foreigner/Non-Filipino Apply a ChinaBank Loan for Financing Condominium?" was written by under the Banking category. It has been read 25560 times and generated 0 comments. The article was created on and updated on 24 February 2014.
Total comments : 1
jasper   (26 September 2016 11:07 PM) [Entry]

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