BANCO DE ORO Super Value Homeloan

BDO SuperValue Home Loan

Buying, building or financing your dream home? Get the faster, easier, more affordable housing loan! BDO SuperValue Home Loan ensures faster, more efficient processing and approval to lessen the wait for you and your family.

We also offer competitive rates that are easier on your budget – giving you enough leeway to spend on other important matters.

There’s more in store when you sign up for a BDO Home Loan:

Competitive Rates

Budget and project your expenses, knowing your rate and payments will stay the same. You have an option to fix interest rates up to 5 years based on prevailing home loan rate.

•	Currently at:
	o	10.00% fixed for 1 year
	o	11.00% fixed for 2 years
	o	11.25% fixed for 3 to 5 years
	o	11.50% fixed for 10 years
•	Interest will be computed based on diminishing balance
•	Yearly repricing after the fixing period based on 364-day T-bill rate + 4% or 1-year MART 1 + 3%

Bank Charges

Appraisal Fee	P3,000 additional fee outside MM
Processing Fee	P2,000.00
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

Multipurpose

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:
	o	Single detached
	o	Townhouse
	o	Duplex
	o	Condominium units
	o	Vacant lots
	o	Mixed-used
	o	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
	o	Up to 80% of appraised value for house & lot
	o	Up to 80% of appraised value for townhouse
	o	Up to 70% of appraised value for vacant lot
	o	Up to 70% of appraised value for condominium

Mode of Release

•	For Acquisition: One-time release
•	For Construction: Staggered releases as follows:
	o	First Release - 70% of Appraised value of lot
	o	Second Release - upon 30% completion
	o	Third Release - upon 60% completion
	o	Fourth Release - upon 90% completion

Flexible Payment Terms

•	20 years for house & lot, townhouse
•	15 years for condominium
•	10 years for vacant lot
•	Provided that age of the borrower does not exceed 65 years old at loan maturity and term of loan does 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.
•	Credit Ratio - 35%

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.

Apply at your Convenience

At our branches nearest you and submit your application form and complete documents.

Application Requirements

Eligibility Criteria

•	Filipinos, Filipinos married to foreigners, Foreigners (if collateral is a condominium), or former Filipinos with or without Dual Citizenship, of legal age (not exceeding 65 yrs old upon loan maturity)
•	Individuals with minimum gross family income of P50,000.00/monthly.
•	For sole proprietorships or family corporations, the business must be profitably operating for the last two (2) years.
•	OFW/s
•	Immigrants

Pre-Approval Requirements

•	If locally employed
	o	Latest Income Tax return (ITR)
	o	Certificate of Employment with Compensation OR latest full month payslip

•	If employed abroad
	o	For seamen: latest crew contract and employment history
	o	For nurses, contract workers and immigrants: employment contract or Certification of employment & salary (to be authenticated by the Phil. Consulate upon loan approval)
	o	Proof of monthly remittances OR payslips for the past three (3) months

•	If self-employed
	o	Income Tax Return (ITR) for the last 2 years
	o	Financial statements for the last 2 years (Audited and In-house, if applicable)
	o	Certificate of Business Registration with DTI or SEC Business Registration & By-Laws, whichever is applicable
	o	Top three (3) major suppliers and customers with contact persons and numbers
	o	Photocopy of the Statement of bank accounts for the last six (6) months OR photocopy of passbook for the past six (6) months
	o	For Rental Income: Copy of TCT/CCT and lease contract from rented/leased properties

•

Documentary Requirements

Collateral Papers

::	Copy of TCT / CCT
::	Lot plan and vicinity map certified by a Geodetic Engineer
::	Master Deed of Declaration of Restrictions (for condominiums)

For construction/renovation

::	Building plan or floor plan
::	Bill of materials
::	Building specifications (certified by a Civil Engineer)

For refinancing

Statement of account or latest three (3) months official receipts

Others

::	Marriage contract
::	Valid ID (primary IDs eg. Driver’s License, passport, SSS, etc)
::	Owner’s Collateral Appraisal Authorization
::	Appraisal fee

Insurance Requirements

•	Mortgage Redemption Insurance (MRI) - equal to loan amount
•	Fire Insurance - equal to the appraised value of the improvement
	o	Contractor’s All Risk Insurance - for construction loan only (to be converted into Fire Insurance upon project completion)
	o	Master Fire Policy - for condominiums only
	All insurances to be endorsed to the Bank.

Post Approval Requirements

•	Original Owner’s Duplicate Copy of Title (TCT or CCT) registered under the name of the borrowers
•	Original Copy of Tax Declaration (for Land & Improvement) registered under the name of the borrowers
•	Original Copy of Tax Clearance for the Current Year (for Land and Improvement)
•	Original Copy of Current Year’s Real Estate Tax Receipts (for Land and Improvement)