Budget and project your expenses, knowing your rate and payments will stay the same. You have an option to fix interest rates up to 20 years based on prevailing home loan rate.
Fixed Rates (as of January 2, 2012):
7.75% fixed for 1-3 years
8% fixed for 4-5 years
10% fixed for 6-10 years
11.25% fixed for 11-15 years
11.5% fixed for 16-20 years
Yearly repricing after the fixing period
Bank Charges
|
Appraisal Fee |
P3,500 |
|
Appraisal Fee outside Meto Manila |
P4,000 |
|
Processing Fee |
P3,000.00 |
|
Mortgage Redemption Insurance |
P4,430.00 for every million, assuming standard rating |
|
Fire Insurance |
Depends on the appraised value of the Improvement |
|
Mortgage Registration Expense (based on loan amount) |
Depends on the loan amount |
Fast and Efficient Processing
Apply now and you get approval of your loan within 10 days
Use the funds for any of these Loan Purposes
Acquisition of vacant lot, house and lot, townhouse, condominium unit
House construction
House renovation/Home Improvement
Refinancing of existing house loan
Reimbursement of acquisition cost or construction cost
Acquisition with refinancing
Refinancing and equity loan
Equity Loan
Security/Collateral
Must be residential
May or may not be owner-occupied
Any of the following:
Single detached
Townhouse
Duplex
Condominium units
Vacant lots
Mixed-used
Apartment (up to 4-doors)
Must be free from liens & encumbrances
Located within BDO serviceable areas
Loanable Amount
Minimum: P500,000.00
Maximum: Based on appraised value of property
Up to 80% of appraised value for house & lot
Up to 80% of appraised value for townhouse
Up to 70% of appraised value for vacant lot
Up to 70% of appraised value for condominium
Mode of Release
For Acquisition: One-time release
For Construction: Staggered releases as follows:
First Release - 70% of Appraised value of lot
Second Release - upon 30% completion
Third Release - upon 60% completion
Fourth Release - upon 90% completion
Flexible Payment Terms
20 years for house & lot, townhouse
15 years for condominium
10 years for vacant lot
The age of the borrower should not exceed 65 years old at loan maturity and the term of loan should not exceed the remaining economic life of the property
We do not collect pre-payment penalties but we charge PhP 2,000 as a processing fee for full payment of loan before maturity
Various Payment Options
Automatic Debit Arrangement
Post-dated checks
Earn Reward Points via BDO Rewards which can be redeemed at
any SM Department Store for items of your choice