GA Consulting is supporting Online Freelancers since 2018. Based on our Community of BIR Registered Freelancers and clients. The number one reason that made them decide to register in the BIR is they are planning to purchase or build their dream home.
Whether you’re a Virtual Assistant, a Digital Marketer, or an independent contractor. As long as you don’t have an employer-employee relationship with your client. You are solely responsible for filing your own taxes.
So what’s the connection of the BIR registration with your dream home?
Most of the time, we need the help of lenders or banks in building our dream homes. One of the primary requirements of the bank is the Annual Income Tax Return (ITR).
As an Online Freelancer, how can you have an ITR?
You can only have an ITR if you register your freelancing business in the BIR. One of your Tax Compliance is the filing of the ITR.
Buying or building our dream home is one of the best gifts and investments we will give to ourselves and to our families.
Here are the requirements of the top banks in the Philippines. Note that the Freelancers category is Self-Employed.
BDO Home Loan Application List of Requirements
- Completely filled-out application form.
- Photocopy of one (1) valid ID matching application details.
- Marriage contract, if applicable.
- Photocopy of Audited Financial Statements for the last two (2) years with the latest Income Tax Return.
- Bank Statements for the last three (3) months.
- Certificate of Registration from DTI or SEC, Articles of Partnership or Articles of Incorporation (whichever is applicable)
- Business Background or Company Profile.
BPI Home Loan Application List of Requirements
- Latest Income Tax Return with audited financial statements.
- Valid DTI Registration or Mayor’s Permit.
- Working account (6mos) with authorization letter to verify.
- Trade references with complete contact information.
- Authorization letter to conduct trade verification.
Metrobank Home Loan Application List of Requirements
- Metrobank Home Loan Application Form
- One (1) valid government-issued ID (preferably passport)
- Business Papers:
- If Single Proprietorship, DTI certificate of registration or Business Permit.
- If Corporation or Partnership, SEC Registration with Articles of Incorporation and By-Laws (or Articles of Partnership).
- Two (2) years latest income tax return (ITR) and audited financial statements (AFS).
- Latest six (6) months bank statements..
- Marriage contract, if applicable.
Security Bank Home Loan Application List of Requirements
- Completely filled out and signed application form
- Clear copy of one valid ID.
- Income Tax Return.
- Any ONE of the following income documents:
- Audited Financial Statements (Latest 1 year).
- Bank statements (Latest 3. months)
- Lease/Rental Contracts.
Philippine National Bank Home Loan Application List of Requirements
- Duly Accomplished Housing Loan Application Form.
- Photocopy of 2 valid government issued ID’s.
- Appraisal Fee of P3,500 – non-refundable.
- If with co-maker/co-borrower/attorney-in-fact, separate application form is needed.
- Any of the following IDs. SSS, GSIS, Driver’s License or PRC License.
- Business Name (DTI) or SEC Registration.
- Articles of Incorporation, By-Laws with SEC Registration Certificate and latest General Information Sheet if applicable.
- General Information Sheet.
- Financial Statements / Income Statement for the last 3 years.
- Photocopy of the Income Tax Return (ITR) for the last 3 years.
- List of Trade References (Suppliers / Customers).
PSBank Home Loan Application List of Requirements
- Completely filled out PSBank Home Loan application form.
- Cash or Check payable to Philippine Savings Bank as non-refundable payment for appraisal fees.
- Photocopy of Transfer/Condominium Certificate of Title (TCT/CCT).
- Contract to Sell/Reservation Agreement (if acquiring from an accredited developer).
- Valid photo-bearing IDs with signature.
- Copy of Court Decision on Annulment and Certificate of Finality of Decision (if annulled)
- Copy of Court Decision on Legal Separation and Certificate of Finality of Decision (if legally separated).
- Latest Annual Income Tax Return with BIR stamp.
- Latest Audited Financial Statement with BIR stamp.
You will notice that ITR is listed as one of the primary requirements for availing a home loan. If building your dream home is also your goal, you should consider being a BIR Registered Freelancer this year 2023!
Join our amazing community of BIR Registered Freelancers, and read the story of Freelancers who successfully achieved their home goals through home loans and by being a BIR Registered Freelancer.