profriends in house financing requirements

June 19, 2018 | Author: api-275094467 | Category: Identity Document, Government, Politics, Government Information, Private Law


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PROFRIENDS IN HOUSE FINANCINGFor Filipinos working locally & residing abroad, Dual Citizenship, problem with bank requirements, etc. Required Down Payment: Minimum of 30% payable in 24 months (deferred), NO INTEREST. Monthly Amortization Terms: 5 yrs (60 months), or 10 years (120 months) A. Natural born Filipino who acquired International Citizenship BY LAW: They are allowed to own up to 1000 sqm residential land and/or 1 hectare of agricultural/farm land. A-1: Single Citizenship/Former Filipino Born Citizen (renounced Filipino citizenship) - this means you no longer posses a Filipino passport - Will qualify for In-House Financing only. - Major Requirement: Philipine Birth Certificate and Affidavit of Former Citizenship. This will be proof as a natural born Filipino A-2: Dual Citizenship (has both Canadian and Filipino Citizenship and has valid unexpired Philippine passport) - They are still qualified to apply for Bank Financing. Just present Philippine passport and other proof of income (for proof of income, I will send a separate email for this) - They are also qualified for In-House Financing. Just Philippine Passport required plus other valid IDs. No need for proof of income. B. Immigrant - They are still qualified to apply for Bank Financing. Just present Philippine passport and other proof of income (for proof of income, I will send a separate email for this) - They are also qualified for In-House Financing. Just Philippine Passport required plus other valid IDs. No need for proof of income. Requirements from the Buyer: 1. 1 X 1 picture (3pcs) (w/ name & unit ID at the back) 2. Photocopy of Valid ID - Valid ID's: SSS, GSIS, Driver's License, Voter's, PRC, Passport & Company ID, Postal ID (if not employed) - w/ 3 specimen signature 3. Photocopy of passport (validity date should be not expired) w/ 3 specimen signature 4. Tax Identification number 5. Post dated checks - Down payment - Monthly Amortization - Guaranteed checks (GC) - Real Property Tax (RPT) 6. Legal Separation Papers (if separated) - w/ court order of finality 7. Waiver of Rights ( if with foreign spouse) - ensure all pages are signed and notarized REQUIRED DOCUMENTS FOR FILL-UP AND SIGNATURE OF BUYER 1. 2. 3. 4. 5. 6. 7. Buyer's Information Sheet (BIS) Reservation Agreement (RA) Counseling Form Contract to Sell (CTS) Deed of Absolute Sale (DOAS) - for Deffered/Cash buyer Deed of Reconveyance (DOR) - for Deffered/ Cash buyer Credit Investigation Form (CI from) w/ sketch - sketch should have landmarks and must be signed 8. Insurances form 9. PCFI SPA form - ensure all pages are signed by the buyer and AIF 10. Atty- In-Fact information sheet Note: *** - will be signed by the AIF in cases that the Principal buyer is currently abroad and won’t be able to come home 3-6 months after date of reservation. Completion of requirements is from 30-60 days from date of reservation. In the event that there will be delays just submit letter of request for an extension.
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