Guide on How Much You Must Prepare for the BPI Home Loan Fees Specifically the Appraisal Fee
BPI HOME LOAN FEES – Here is a guide on how much you must prepare for the appraisal fee in applying for the Bank of the Philippine Island’s Housing Loan offer.
The Bank of the Philippine Islands or more commonly called BPI offers cash assistance for those who wanted to acquire their own residential property. It is one of the trusted giant banks in the Philippines. It is open for any of the following:
- purchase of a vacant lot
- buying a house and lot
- purchase of a condominium unit
- refinancing
The Bank of the Philippine Islands has set a short list of eligibility qualifications under the BPI Home Loan offer. The applicant must be:
- a Filipino citizen, a foreigner married to a Filipino citizen, or a foreigner with issued immigrant or resident visa
- employed or self-employed
- earning at least Php 40,000.00 per month
According to BPI, the loan terms may vary depending on the purpose of the applicant. For the purchase of a house and lot, you may pay for it for up to twenty-five(25) years. For the purchase of a vacant lot or a residential condo unit, a business loan, or refinancing, you may for it for up to ten(10) years.
Do you want to know how much you can borrow under this loan offer? You may visit – BPI HOME LOAN – Minimum & Maximum Loanable Amounts Under the BPI Home Loan.
In applying for said loan offer, you must prepare an amount for the BPI Home Loan Fees. It is like the application in other banks as there is really an appraisal fee when a property is involved. Here is a guide on how much you must prepare:
- Appraisal Fee – Php 5,000.00
In case of late payment charges under an approved loan, BPI will charge 3% of the monthly amortization of the borrower. Other fees would depend on the current implementations of the bank.
Do you want to apply? Here is a guide on how to apply and the requirements you must prepare – APPLY BPI LOAN – Guide On Easy Online Application For BPI Loans.
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READ ALSO: BPI LOAN OFFERS – Full List of BPI Personal & Business Loans