Guide about the BDO Home Loan Offer’s Loanable Amounts & Terms
BDO Home Loan which is open for both employed and self-employed individuals offers light payment options for the clients.
Are you looking for a bank that offers home loans? In the Philippines, one of the trusted banking entities that you may turn to is BDO Unibank. It is one of the biggest and most popular banks in the country that has been serving the Filipino people for decades now.
The offers of BDO Unibank encompass savings and checking accounts, differents kinds of credit cards and loans, and a lot more financial services. One of the loan offers of the bank is the BDO Home Loan that is open to finance several purposes such 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)
BDO Unibank has set different loanable amounts under its Home Loan offer. In the case of financing the purchase of a vacant lot, the minimum loanable amount under the BDO Home Loan offer is Php 300,000.00. You may borrow up to an equivalent of 70% of the appraised value of the property.
With regards to financing the purchase of a house and lot, townhouse, or other residential units except for a condominium unit, the minimum loanable amount is Php 500,000.00. You may borrow up to an equivalent of 80% of the property’s appraised value.
On applying for the a loan to finance the purchase of a condo unit, the minimum borrowing amount allowed under the offer is Php 500,000.00 with the maximum borrowing amount allowed set to be not more than the equivalent of the 70% of the appraised value of the property.
As mentioned, the BDO Home Loan offers clients with the options for light payments. If you had a vacant lot purchase financed, the repayment can be stretched to up to 10 years. The maximum loan term for the financing of a condo unit purchase is 15 years while 20 years for the financing of a purchase of other residential properties.
BDO offers an all-in financing. Other loan-related fees can be financed and paid up to the term of the Home Loan. It also comes with a built-in insurance premium with one-year coverage which can be repaid in 12 equal monthly installments.