Lists of BDO Home Loan Qualifiations for Application for Employed, Self-Employed Clients
BDO HOME LOAN QUALIFICATIONS – Here is a guide on who are qualified to apply for the BDO Unibank loan offer.
Are you looking for a bank where you may apply for a Home Loan? In the Philippines, one of the trusted entities that you may turn to is BDO Unibank. It is one of the biggest entities in the Philippine banking industry.
With regards to the Home Loan offer of BDO Unibank, it is open to finance the acquisition of a residential property, house construction, and home equity loan or the use of a property as the collateral in obtaining funds.
Under the loan offer, the bank can finance up to 80% of the cost of the residential property depending on the loan purpose. Under the loan offer, the qualifications vary depending if you are locally-employed, self-employed, or an overseas Filipino worker (OFW).
If locally-employed, the aspiring loan applicant must meet the following eligibility requirements to qualify for the loan offer:
- at least 21 years old upon the loan application but not more than 70 years old at the maturity of the loan
- Filipino citizen or foreign nationals
- minimum gross family income of ₱50,000/month or its equivalent in foreign currency
- stable source of income and at least two (2) years with current company
If you are self-employed, there is a separate list of BDO Home Loan qualifications for application. To be eligible to apply for the loan offer, here are the eligibility requirements set by the bank:
- at least 21 years old upon the loan application but not more than 70 years old at the maturity of the loan
- Filipino citizen or foreign nationals
- minimum gross family income of ₱50,000/month or its equivalent in foreign currency
- stable source of income and at least 2 consecutive profitable years of operation
The BDO Home Loan offer is also open for Filipinos who are working overseas or abroad. To qualify to apply for the loan offer, the loan applicant must meet the following eligibility requirements:
- at least 21 years old upon the loan application but not more than 70 years old at the maturity of the loan
- Filipino citizen or foreign nationals
- minimum gross family income of ₱50,000/month or its equivalent in foreign currency
- stable source of income with 2-3 years of consecutive employment
- Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application
Responsible loan applicants never fail to check on the interest rates set by the lender. It must not be enough to know how much will be your monthly amortization. By knowing how much interest your loan may incur, you can plan a way to reduce the whole interest or, at least, avoid some charges.