Guide on Requirements for BDO Home Loan 2023 You Must Prepare to Apply
REQUIREMENTS FOR BDO HOME LOAN 2023 – On the lists below are the documents required by BDO Unibank in applying for its loan offer.
Are you looking for a bank that can help you in getting your target residential property or building your dream house? One of the entities that you may turn to is BDO Unibank, a trusted banking firm in the Philippines.
BDO is one of the biggest and most popular banks in the Philippines. It does not only have multiple bank account offers and credit cards but as well as loans. Aside from the BDO Personal Cash Loan 2023, the bank also offers a Home Loan that attend to several purposes.
Under the BDO Home Loan 2023 offer, you may apply for the purpose of financing any of the following:
- 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)
To qualify for the loan offer, there are both eligibility and documentary requirements set by the bank. Here is a list of the eligibility criteria under the loan offer:
- 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
- has a stable source of income
- If locally employed, the loan applicant must be employed for at least two (2) years with the current company/employer
- If self-employed, the loan applicant must be running a business that is profitable for at least two (2) consecutive years already
- If employed abroad, the loan applicant must be on a 2-3 consecutive employment
There are different lists of requirements for BDO Home Loan 2023 application depending if you have a BDO account or none. If you have a BDO account, here are the documents that you must prepare and submit to the bank:
- General Documents
- duly-accomplished and signed BDO Home Loan Application Form
- Income Documents
- Self-Employed
- Bank Statement
- Audited Financial Statements for the last two (2) years
- Overseas Filipino Workers (OFWs)
- Latest three (3) months payslips
- Latest Crew Contract, if sea-based
- Latest proof of remittance for the last three (3) months
- Latest Certificate of Employment with Income (COEI)
- Self-Employed
As mentioned earlier, there is a separate list of requirements for BDO Home Loan 2023 application for non-BDO account holders. Here are the documents needed in applying for the loan offer if you have no BDO account:
- General Documents
- duly-accomplished and signed BDO Home Loan Application Form
- photocopy of one (1) valid ID matching application details
- Marriage Contract, if applicable
- Income Documents
- Locally Employed
- Latest Certificate of Employment with Income (COEI)
- Latest three (3) months payslips
- Latest Income Tax Return (ITR)
- Self-Employed
- Certificate of Business Registration from SEC, if applicable
- Audited Financial Statements for the last two (2) years
- Bank Statement, non-BDO Account
- OFW
- Latest three (3) months payslips
- Latest proof of remittance for the last three (3) months
- Latest Crew Contract, if sea-based
- Latest Certificate of Employment with Income (COEI)
- Locally Employed
BDO Unibank also requires collateral requirements for BDO Home Loan 2023 application. Here are the documents pertaining to the property that must be submitted:
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