BDO Home Loan Requirements — The Qualifications & Documents You Must Submit

Lists of BDO Home Loan Requirements for Application Process

BDO HOME LOAN REQUIREMENTS – Here are the qualifications and the documents that you must submit in applying for BDO Unibank loan offer.

Have you heard about the Home Loan offer of BDO Unibank? You might be interested to apply for the loan offer to start the steps now to get to your dream house. Under its loan offer, up to 80% of your residential property purchase may be financed by the bank.

BDO is one of the giants in the Philippine banking industry. It is operating in the country for decades now since 1976 and has several branches across the nation thus its offers are really accessible to the public.

BDO Unibank offers several types of loans and one of the offers is the BDO Home Loan. It is open for employed individuals, self-employed individuals, and overseas Filipino workers (OFWs).

There are varying BDO Home Loan requirements among the locally-employed and self-employed individuals and OFWs. The requirements include both the eligibility criteria and the documents required by the bank for application.

Here is a guide on the BDO Home Loan requirements in terms of eligibility for application:

Locally-Employed Individuals

• at least 21 years old but not exceeding 70 years old at the end of the loan term
• minimum gross family income of ₱50,000/month or its equivalent in foreign currency
• at least 2 years with current company

Self-Employed Individuals

• at least 21 years old but not exceeding 70 years old at the end of the loan term
• minimum gross family income of ₱50,000/month or its equivalent in foreign currency
• at least 2 consecutive profitable years of operation

Overseas Filipino Workers (OFWs)

• at least 21 years old but not exceeding 70 years old at the end of the loan term
• minimum gross family income of ₱50,000/month or its equivalent in foreign currency
• 2-3 years consecutive employment. Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application

With regards to the BDO Home Loan requirements that have to be submitted, the required documents among the BDO account holders and those who are new to the bank vary. Here’s a guide:

BDO Account-Holders

• duly filled-out BDO Home Loan Application Form
• proof of income:
  • Self-Employed:
    • Bank Statement, non-BDO Account
    • Audited Financial Statements for the last two (2) years
    • Latest proof of remittance for the last three (3) months
    • Latest three (3) months payslips
    • Latest Certificate of Employment with Income (COEI)
    • Latest Crew Contract, if sea-based

    Non-BDO Account Holder

    • duly filled-out BDO Home Loan Application Form
    • photocopy of one (1) valid ID matching application details
    • Marriage Contract, if applicable
    • proof of income:
      • Locally-Employed:
        • Latest three (3) months payslips
        • Latest Certificate of Employment with Income (COEI)
        • Latest Income Tax Return (ITR)
        • Certificate of Business Registration from SEC, if applicable
        • Bank Statement, non-BDO Account
        • Audited Financial Statements for the last two (2) years
        • Latest proof of remittance for the last three (3) months
        • Latest three (3) months payslips
        • Latest Certificate of Employment with Income (COEI)
        • Latest Crew Contract, if sea-based

        There are also collateral requirements in applying for the BDO Home Loan offer. The collateral documents required by the bank depends on the purpose of the loan application as well as whether or not the developer is accredited with BDO or not.

        If property is from a Developer accredited with BDO

        1. Contract to Sell (CTS)

        If property is from an individual seller or a Developer not accredited with BDO

        1. Photocopy of TCT/CCT and/or Contract to Sell (CTS)
        2. Photocopy of Tax Declaration
        3. Authorization of Tax Mapping signed by present owner
        4. Copy of payment for Appraisal Fee

        If Construction Loan

        1. Photocopy of TCT
        2. Photocopy of Tax Declaration
        3. Building Plan
        4. Building Specifications
        5. Copy of payment for Appraisal Fee