BDO Home Loan

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BDO offers financing for various housing needs: purchase or construct a new home, renovate an existing house, refinance a home loan or buy another property.

With BDO Home Loan, you get to enjoy the following benefits:

Affordable Cash Out
👉 All-In Financing
Spread out payment of your mortgage fees and loan-related charges up to the term of your BDO Home Loan,

👉 Built-In Insurance
Insurance Premiums for 1-year coverage can be paid in 12 equal monthly installments, without interest and billed together with your monthly amortization. Your insurance coverage will automatically renew annually for the entire term of your loan.

Light Payment Options
👉 60-day Grace Period
First payment to start sixty (60) days after the release of your loan, subject to applicable interest.

👉 Interest Only for the first 6 months
Principal and interest payments to start right after.

BDO offers financing for various housing needs: purchase or construct a new home, renovate an existing house or get another property.

With BDO Home Loan, you get to enjoy the following benefits:

Affordable Cash Out
👉 All-In Financing
Spread out payment of your mortgage fees and loan-related charges up to the term of your Home Loan

👉 Built-In Insurance
Insurance Premiums for 1-year coverage can be paid in 12 equal monthly installments, without interest and billed together with your monthly amortization. Your insurance coverage will automatically renew annually for the entire term of your loan.

Light Payment Options
👉 60-day Grace Period
First payment to start sixty (60) days after the release of your loan, subject to applicable interest.

👉 Interest Only for the first 6 months
Principal and interest payments to start right after.

BEGINNER’S GUIDE

The Philippines has several major banks that offer home loans to potential clients. Hence, it can be overwhelming for first-time borrowers to go through the many options available.

This article is the first in our series for first-time borrowers that aims to give an overview of the home loan processes for each of Nook’s partner banks!

For this feature, we’ll be explaining the ins and outs of BDO home loan and what you can expect from them.

What is the BDO Home Loan?

Through BDO’s home loan, borrowers are able to buy a house and lot, a condo, or a townhouse.

On top of that, the possibilities do not stop there! BDO’s home loan also allows clients to buy a vacant lot and even construct or renovate a home.

What Makes the BDO Home Loan Unique?

All-in Financing

With BDO, borrowers don’t have to pay huge sums of money upfront. Instead, payment for your fees will be spread out depending on your loan term.

Built-in Insurance

BDO allows you to divide your payment for yearly insurance premiums into 12 monthly installments at 0% interest. This will then be billed in conjunction with your monthly amortization.

Light Payment Options

Stress-free payments are at the core of BDO home loans. Borrowers are given a 60-day grace period! You will only start paying 60 days after your loan has been released.

Speedy Approval Times

After completely submitting all required paperwork, borrowers will receive loan approval within 5 working days for Metro Manila and 10 working days for provinces.

What Are the BDO Home Loan Terms?

Keep in mind that BDO requires a minimum loan amount of P500,000. But, you don’t have to feel too stressed over repaying this! Borrowers are given a maximum of 20 years to pay off their loans. Additionally, you can borrow up to 80% of a property’s appraised value.

How Much is the BDO Interest Rate?

Because BDO is an official Nook partner, we have access to exclusive interest rates specifically for Nook’s clients. This means that borrowers will not only save their time by availing of Nook’s free services but also their money! Schedule a free consultation with our home loan experts to learn more.

Am I Eligible for the BDO Home Loan?

Any borrower who meets the criteria below can apply for a BDO home loan
At least 21 years old but not exceeding 70 years old at the end of the loan term.
Filipino Citizens or Foreign Nationals
Minimum gross income of P50,000/month or its equivalent in US Dollars
With a stable source of income from employment or business

Take note that your employment situation is also important in determining your eligibility. BDO has 3 employment classifications, each with its own unique criteria that must be met before applying for a BDO home loan.

Locally Employed
At least 2 years with your current company

Self-employed
At least 2 consecutive profitable years of operation

Employed Abroad
2 to 3 years of consecutive employment
Assignment of a loan administrator if not living in the Philippines at the time of application

Check If You Qualify For A BDO Home Loan

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What Are the Requirements of the BDO Home Loan?

Documents that borrowers have to submit are divided into 3, namely, basic, income, and collateral documents.

Basic documents are general requirements for all clients

These are the following
Application form
Valid IDs
Marriage Contract (if married)

Income documents serve as your proof of income

Locally Employed
Latest Income Tax Return (ITR) or BIR Form 2316
Latest 3 months payslip
Certificate of Employment with Income (COEI)

Self Employed
Photocopy of audited financial statements for the last 2 years with the latest ITR
Bank statements or photocopy of passbook for the last 6 months
Certificate of Business Registration from DTI or SEC, Articles of Partnership or Articles of Incorporation (whichever is applicable)
Business background or company profile

Employed Abroad
Proof of remittance for the last 3 months
Latest Crew Contract (sea based)
Consularized Certificate of Employment with Income (COEI) or latest 3 months payslips

Collateral documents are also known as security documents

These are the following
Photocopy of title
Lot plan with vicinity map
Photocopy of tax declaration

How Do I Apply for a BDO Home Loan?

You can apply directly to BDO and go through the complicated as well as time-consuming process yourself or contact a mortgage broker like Nook for help!

At Nook, our team of home loan experts 🤓 will handle the entire home loan application process for you (100% free of charge).

This means you can skip the bank's long lines and speak with Nook virtually or over the phone. Plus, our services are entirely free of charge!

By availing a home loan, you can buy your dream home without having to spend years saving up for it and paying in full. This means you can own the home you’ve always dreamed of at a much earlier stage in your life!

Check whether you qualify for a BDO home loan in just 3 minutes using Nook’s state-of-the-art software.

AWESOME EXPERIENCE

Learn more

BEGINNER’S GUIDE

The Philippines has several major banks that offer home loans to potential clients. Hence, it can be overwhelming for first-time borrowers to go through the many options available.

This article is the first in our series for first-time borrowers that aims to give an overview of the home loan processes for each of Nook’s partner banks! For this feature, we’ll be explaining the ins and outs of BDO home loan and what you can expect from them.