APPLYING FOR A HOME LOAN

My salary is below ₱50,000 per month. Am I still qualified for a BDO Home Loan?

Combined gross family income is considered for a BDO Home Loan.

• If married, you can add up your spouse's income

• If single,  you may apply with a co-borrower who will have a joint obligation in paying the loan

• If you receive commissions as additional income, you can have this considered as part of your salary

What are the fees that I need to prepare for?

Upon Application

Appraisal fee

• If collateral is within 30km radius from any BDO branch - ₱5,000

• If collateral is outside 30km radius from any BDO branch - ₱5,500

After Approval

• Handling fee - ₱3,000

• Notarial fee - ₱200 per document

• Registration fee - Variable

• Doc Stamp Tax

• ₱1.50 for every ₱200 of the loan amount  -

• Credit Life Insurance (CLI) Premium
  
  - ₱4.75 for every ₱1,000 of the loan amount (assuming standard rate for borrowers up to 49 years old)
  
  - ₱6.50 for every ₱1,000 of the loan amount (assuming standard rate for borrowers ages 50 to 69 years old)

• Fire Insurance (FI) Premium

• Based on the appraised value of the improvement submitted, excluding parking lot for condo or land for residential property

For Construction or Renovation loan

• Inspection Fee - ₱1,500 per inspection

• Contractor's All-Risk Insurance (CARI)

• Based on the amount of building materials and occupancy

TO KNOW MORE ABOUT THIS KINDLY CONTACT

Maica Castillo

EMAIL : iamdrivenmaica@gmail.com

VIBER : 09760077327

SOURCE:

https://www.bdo.com.ph/personal/loans/home-loan?fbclid=IwAR1exYe2EgHfETep45GUBf5s1pe8lu8AVh8rcDvzQ1J_wQ4jK1HiyRNt8M8#faqaccordion-ebf4a335fc-item-885696a7b6