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A Letter of Intent for Mortgage is typically used in the Philippines when a prospective borrower wishes to formally express their interest in obtaining a mortgage loan from a specific lender. This document serves as a preliminary step in the mortgage application process, establishing the groundwork for subsequent negotiations and formal documentation. It includes essential information such as property details, proposed loan terms, and borrower credentials, while operating within the framework of Philippine banking regulations and property laws. While not creating binding obligations regarding the mortgage itself, it demonstrates serious intent and can help secure preliminary agreements on key terms. The document is particularly useful in complex property transactions or when dealing with significant loan amounts, helping to streamline the subsequent formal mortgage application process.

1. Header Information: Date, recipient's name and address, and subject line clearly stating 'Letter of Intent - Mortgage'

2. Opening Paragraph: Introduction of the sender and clear statement of intent to obtain a mortgage for specified property

3. Property Details: Complete description of the property to be mortgaged, including address, title details, and current ownership status

4. Financial Terms: Proposed loan amount, intended down payment, preferred interest rate range, and desired loan term

5. Borrower Information: Key details about the borrower including employment status, income sources, and any existing obligations

6. Timeline: Proposed timeline for completing the mortgage transaction and any relevant deadlines

7. Contact Information: Complete contact details for further communication and discussion

8. Closing Statement: Formal closing expressing interest in proceeding with the mortgage application process

9. Signature Block: Space for signature, printed name, and date