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What requirements are necessary to qualify for a mortgage loan?

These are the general guidelines of the requirements to qualify for a mortgage loan. However, remember that each case is evaluated individually by the bank or lending institution.

  • You should have funds to cover the down payment and the closing costs. These funds usually proceed from your account. You should be able to demonstrate their source with bank statements.
  • If you are self-employed, or a business owner, you must your tax returns (Self Assessment tax return¬SA100) and / or a financial statements from the last 24 months and financial statements.
  • You must have a source of income or collect the amount that will allow you to pay the loan you applied for. The income you report can be your own or combined between you and your spouse or a cosigner.

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We encourage you to consult the following information regarding useful and accessible solutions for you.



FDIC Member. Products and services offered by Banco Popular de Puerto Rico.

1Withdrawals are subject to the availability of funds in your account.

2Deposits are subject to the provisions of the Bank’s Funds Availability Policy. Easy Deposit Mobile is a free service and only for Banco Popular customers with individual deposit accounts and/or commercial accounts (FlexiCuenta de Negocios® & B-Smart®). Customers selected in accordance with the Bank’s eligibility criteria. Checks deposited before 6:00 p.m. of a business day will be processed the same business day, subject to verification and deposit validation. In the back of the check to be deposited, enter your signature, account number and the phrase “For Deposit Only at BPPR.”