TRYING TO GET A PROPERTY LOAN
Month MY SALARY IS BELOW THE MINIMUM REQUIRED INCOME OF P50,000 PER. Have always been We STILL ELIGIBLE TO SUBMIT AN APPLICATION FOR A BDO MORTGAGE LOAN?
The income considered is combined family income that is gross.
• If married – you along with your partner’s wage will soon be evaluated for your house application for the loan
• If single – you may possibly use having a co-borrower that will have joint obligation in repaying the loan. The two of you will go through the loan application evaluation process that is standard.
This may be considered in the evaluation if you receive commissions or incentives on top of your basic salary. With your certification of Employment with Income (COEI), you could submit documents that prove regular receipt of incentive or commission.
DO YOU KNOW THE FEES THAT I HAVE TO PREPARE WHENEVER TRYING TO GET THAT LOAN?
You’ll want to pay an assessment charge upon distribution of the loan papers:
• P5,000 (if security is at 30km radius from any BDO Branch)
• P5,500 (if security is outside 30km radius from any BDO Branch)
ARE THERE ANY DIFFERENT LOAN-RELATED FEES THAT I WOULD LIKE TO GET READY FOR?
Yes, the after charges need to be settled before the launch of your loan:
| Prior to Loan Release* | |
| Handling Fee | Php3,000 |
| Notarial Fee | Php100 (for MM reports just; for outside MM, is determined by charge of Notary Public into the certain area) |
| Registration Fee | Variable |
| Doc. Stamp Tax | Php1.50 for every single Php200 of this loan quantity |
| Credit Lifre Insurance (CLI) Premium | Php4.75 for every single Php1,000 associated with loan quantity (presuming standard price for borrowers as much as 49 years old) |
Php6.50 for almost any Php1,000 associated with loan quantity (presuming standard price for borrowers ages 50 to 64 yrs. Old)