List of BDO Home Loan Qualifications for Application Process
Here are the qualifications in applying for the Home Loan offer of BDO Unibank, one of the biggest banks in the Philippines.
BDO Unibank, one of the most trusted and biggest banks in the Philippines, is one of the entities that you may turn to for home loans. It can finance a purchase of a residential property, house construction, or home renovation. You can also use your property as the collateral to obtain cash under the loan offer.
BDO boasts its loan offer with affordable cash-out that even the other loan-related fees can be financed under the loan offer as well as the insurance premium. Aside from it, the light payment options include the payment of the first monthly due set 60 days after the loan release giving the borrower enough time to prepare for the start of the repayment.
Under the loan offer, the bank has set an eligibility criteria. Here are the BDO Home Loan qualifications for application:
- Filipino citizen or foreign national
- at least 21 years old upon the loan application
- not more than 70 years old at the end of the loan term
- minimum gross family income of ₱50,000/month or its equivalent in foreign currency
- With stable source of income from employment or business
- Locally Employed: at least 2 years with current company
- Self-Employed: at least 2 consecutive profitable years of operation
- Employed Abroad: 2-3 years consecutive employment. Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application
Aside from the eligibility requirements set by the bank under the offer, there are documents that must be prepared and submitted to BDO Unibank in applying for the loan offer. The lists vary depending if you are locally-employed, self-employed, or an overseas Filipino worker (OFW).