Guide on Home Loan Loanable Amounts 2023 for Borrowers
BDO HOME LOAN LOANABLE AMOUNTS 2023 – Here is a guide on how much you may borrow under the loan offer of BDO Unibank.
Are you planning to purchase a residential property or construct a house but your budget may not be able to cover the whole expenses now? You may turn to a home loan offer. One of the entities that provides the said offer is BDO Unibank.
BDO Unibank is one of the biggest, trusted, and most popular banking entities in the Philippines. It offers savings and checking accounts, credit cards, loans, and several other financial services. One of the loan offers is BDO Home Loan.
The BDO Home Loan offer attends to several purposes related to residential properties. You may apply for it to finance any of the following purposes:
- acquisition of a real estate property
- house and lot
- townhouse
- condominium unit
- vacant lot
- house construction
- home equity loan (use house as collateral for access to funds to be used in multi-purposes)
The BDO Home Loan loanable amounts 2023 depend on the type of property involved in the loan offer. Here is a guide on the minimum and maximum borrowing amounts allowed under the loan offer:
| Minimum Loanable Amount | Maximum Loanabe Amount vs Appraised Value of the Property | |
| House & Lot | ₱500,000 | 80% |
| Townhouse | ₱500,000 | 80% |
| House Construction | ₱500,000 | 80% |
| Condo Unit | ₱500,000 | 70% |
| Vacant Lot | ₱300,000 | 70% |
The BDO Home Loan loanable amounts 2023 for house and lot and townhouse acquisition and house construction is payable for up to 20 years. If the loan offer involves a condo unit, it is payable for up to 15 years while loans for the purchase of a vacant lot may be repaid for up to 10 years.
There are eligibility requirements in applying for the loan offer. If locally employed, the loan applicant must meet the following eligibility requirements set by the bank:
- at least 21 years old at the time of the loan application but not more than 70 years old upon the loan maturity
- a Filipino citizen or a qualified foreign national
- earning a minimum monthly gross family income of P50,000 per month
- employed for at least two (2) years with the current company/employer
In the case of self-employed applicants, to be eligible to apply for the loan offer, the borrower must meet the following qualifications for application:
- at least 21 years old at the time of the loan application but not more than 70 years old upon the loan maturity
- a Filipino citizen or a qualified foreign national
- earning a minimum monthly gross family income of P50,000 per month
- running a business that is profitable for at least two (2) consecutive years already
The loan offer is open for individuals who are employed abroad. Here is the set of eligibility criteria for loan applicants who are working abroad:
- at least 21 years old at the time of the loan application but not more than 70 years old upon the loan maturity
- a Filipino citizen or a qualified foreign national
- earning a minimum monthly gross family income of P50,000 per month
- 2-3 consecutive employment
There are income document requirements for BDO Home Loan 2023 application that loan applicants must submit to the bank. Aside from the said documents, the client must also submit the collateral requirements:
If the developer of the property is accredit with BDO
- Contract to Sell (CTS)
If the developer of the property is not accredited with BDO or a sole seller
- Photocopy of TCT/CCT and/or Contract to Sell (CTS)
- Photocopy of Tax Declaration
- Authorization of Tax Mapping signed by present owner
- Copy of payment for Appraisal Fee
For the purpose of house construction
- Photocopy of TCT
- Photocopy of Tax Declaration
- Building Plan
- Building Specifications
- Copy of payment for Appraisal Fee
It may take BDO Unibank a few working days to evaluate the loan application. Wait for an update from the bank.