March 10, 2009

Choosing a Bank for your Housing Loan

One source of financing for acquisition of a house and lot, home renovation or improvement are from banks. They charge a floating or a fixed interest, depending on the amount and the term of the loan. Before you decide to take out a bank loan, make sure to compare the rates, the requirements and if it is really the best deal you can get.

Requirements may vary but the usual documents they would ask are:
  1. Accomplished application from
  2. Valid identification cards
  3. Proof of income e.g certificate of employment or payslip
  4. Contact numbers or proof of billing
  5. Recent income tax return
Here are the links to some of the banks that offer housing loans and the requirements for said loans:
You may also check out Sassy Lawyer, who has a much better post on how to choose a lending institution for your housing loan needs.

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