I need a Bank Loan for my Investment Property, and I am a foreigner!
Philippines is no doubt an attractive place to invest in real estate. There are 100 million population and more than 10% of it are living and working in Metro Manila, making it one of the highest population density capital city in the world.
Many property investor will consider taking up a bank loan for a few reasons. One is to stretch the investment dollars and increase the leverage. The other main reason is to cope with the cash requirements, be it short term or long term. Many investors look forward to using the rental returns from the property to pay partially for the bank loan.
At PPIC, we have successfully assisted many foreign investors with applying for a bank loan. To start, it is important to check that the investment property is accredited with the bank. Not all properties qualify for a bank loan.