Month MY SALARY IS BELOW THE MINIMUM REQUIRED INCOME OF P50,000 PER. Have always been We STILL ELIGIBLE TO MAKE AN APPLICATION FOR A BDO HOME LOAN?
The income considered is combined family income that is gross.
• If married – you as well as your partner's income is going to be examined for your house application for the loan
• If single – you might use having a co-borrower that will 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 basic income, this might be considered within the assessment. With your Certificate of Employment with Income (COEI), you could submit documents that prove regular receipt of incentive or commission.
EXACTLY WHAT ARE THE FEES THAT I HAVE TO PREPARE WHEN OBTAINING THAT LOAN?
You will need to spend an assessment cost upon distribution of one's loan papers:
• P5,000 (if collateral is at 30km radius from any BDO Branch)
• P5,500 (if security is outside 30km radius from any BDO Branch)