Month MY SALARY IS BELOW THE MINIMUM REQUIRED INCOME OF P50,000 PER. Have always been I STILL ENTITLED TO MAKE AN APPLICATION FOR A BDO MORTGAGE LOAN?
The salary considered is combined family income that is gross.
• If married – you as well as your spouse’s wage should be examined for your house application for the loan
• If single – you might use by having a co-borrower who’ll have a joint obligation in repaying the mortgage. You both will go through the loan application evaluation process that is standard.
In the event that you receive commissions or incentives in addition to your fundamental income, this can be considered into the assessment. And 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 will need to spend 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)
IS THERE DIFFERENT LOAN-RELATED FEES THAT I WANT TO GET READY FOR?
Yes, the fees that are following to be settled ahead of the launch of your loan:
|Ahead of Loan Release*|
|Notarial Fee||Php100 (for MM reports just; for outside MM, is based on cost of Notary Public into the area)|
|Doc. Stamp Tax||Php1.50 for each Php200 associated with loan quantity|
|Credit Lifre Insurance (CLI) Premium||Php4.75 for almost any Php1,000 associated with the loan quantity (presuming standard rate for borrowers as much as 49 years of age)|
Php6.50 for every single Php1,000 associated with loan amount (presuming rate that is standard borrowers many years 50 to 64 yrs old)