APPLYING FOR a true home LOAN

<u>APPLYING FOR a true home LOAN </u>

Month MY SALARY IS BELOW THE MINIMUM REQUIRED INCOME OF P50,000 PER. Have always been We STILL ENTITLED TO APPLY FOR A BDO MORTGAGE?

The income considered is combined family income that is gross.

• If married – you along with your partner’s income are going to be examined for your house application for the loan

• If single – you could apply by having a co-borrower who’ll have joint obligation in repaying the mortgage. The two of you will go through the loan application evaluation process that is standard.

In the event that you get commissions or incentives along with your fundamental wage, this might be considered into the assessment. Together with your certification of Employment with Income (COEI), you may possibly submit documents that prove regular receipt of payment or motivation.

DO YOU KNOW THE FEES THAT I HAVE TO PREPARE WHENEVER TRYING TO GET THAT LOAN?

You will need to spend an assessment cost upon submission of one’s 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 fees that are following to be settled ahead of the launch of your loan:

Ahead of Loan Release*
Handling Fee Php3,000
Notarial Fee Php100 (for MM reports just; for outside MM, depends upon charge of Notary Public within the area)
Registration Fee Variable
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