Bank of Commerce Home Loan

Bank of Commerce Home Loan will let you borrow as much as 80% of the appraised value of your property at an affordable cost with low interest rates and long payment terms. Take advantage of their no lock in period program. Apply for a housing loan from Bank of Commerce through eCompareMo. Hassle free and Fast home loan application online.

If you are looking for housing loans in philippines other than Bank of Commerce, we can help you with it. Ask us today and we will guide you every step of the way.

Bank of Commerce Home Loan

BDO Housing Loan. Fast application, low interest rates and convinient home loan payment terms. Apply today and get approve immediately!

Product Features

  • One of the lowest interest rate in the market for as low as 5.25%
  • Housing loanavailable with as low as Php25,000
  • Friendly and Helpful customer service for easier and faster loan processing

Overview

Product Name:
Bank of Commerce Home Loan
Remarks
Choose Payment Terms from 10 to 20 years
Minimum Amount of Loan:
PHP500,000.00
Maximum Amount of Loan:
PHP100,000,000.00
Minimum Loan Tenure:
1 years
Maximum Loan Tenure:
20 years
Maximum Fixed Period:
10 years
Early Repayment:
Property Insurance Included:
No
Accepts Third Party Property Insurance:
No
Accepts Third Party Mortgage Insurance:
No
Does not Require Mortgage Insurance:
No
Payment Options:
Application Approval Time:

Eligibility and Requirements

Eligible Property Types
House and Lot
Vacant Lot
Condominium
Townhouse
Apartment
Home Loan Proceeds Can Be Used For:
Purchase of Property
Refinancing
Construction/Home Improvement
Reimbursement of Acquisition Cost
Home Equity
Construction of House/Home Improvement

Property Types and Loan Purpose

Age Range of Borrower:
21-65 years
Minimum Annual Income:
PHP300,000.00
Employment Work Status
Employed - Private Sector for 2 years
Employed - Government for 2 years
Self - Employed for 2 years
Professional for 2 years
Employed - BPO for 2 years
Employed - OFW/Seafarer for 2 years
Applicant Must Have a Landline Phone at Home or Office:
No
Need to Open Linked Bank Account:
No
Guarantor Requirements:
Collateral Requirements:
The collateral for bank of commerce home loan are house and lot, townhouse, condominium and vacant lot's

Fees and Charges/Penalties

Appraisal Fee
PHP3,500.00 for Metro Manila Located properties

Interest Rates Offered

Interest for Fixed Period Interest Effective Interest Fixed Variable Period Interest Rate Per Year
1 to 2 years fixed period 5.25% 5.25%
3 to 4 years fixed period 6.25% 5.25%
4 to 5 years fixed period 7.00% 5.25%
6 to 10 years fixed period 8.25% 5.25%

FAQs

What are the eligibility requirements to apply for a Bank of Commerce Housing Loan?

  • Applicant must be of legal age and not older than 65 years old
  • A regular employee in a reputable company
  • Owns a business with a stable flow of income

Loan Purpose:

  • Purchase of house and lot, townhouse, or condominium unit
  • Construction of house on a lot already owned by the borrower
  • Major repair, improvement or expansion of an existing house
  • Refinancing/take out of existing housing loan

What are the documentary requirements required?

General Requirements:

  • Bank of Commerce Home Loan Application Form
  • 2x2 photos (both spouses/co-obligor)
  • Photocopy of valid ID
  • Driver’s License, Passport, SSS ID, Company ID (if top 5000 Corporation), Postal ID, PRC ID
  • Photocopy of deposit passbooks or banks statements (3 months)
  • Marriage contract (if applicable)

Employed

  • Copy of ITR with BIR or bank stamp (latest 3 years)
  • Certificate of Employment stating applicant’s position, income, and length of stay in the company (original copy)
  • Copy of latest pay slips (last 3 months)
  • Proof of other sources of income, if applicable
  • Proof of billing address and Original copy of Latest Contract of Employment (OFW/Seafarer)

Self-Employed

  • Copy of business registration papers with DTI (if single proprietor) or SEC (if partnership or corporation)
  • Copy of Audited Financial Statement for the last two (2) years
  • Copy of ITR with BIR or bank stamp (latest 3 years)
  • Company/business profile
  • List of major suppliers/customers

Can I buy a property even outside metro manila?

  • Yes, Bank of Commerce lets you buy a property anywhere in the country.

How can eCompareMo help me to get the best Home loan Deal?

  • eCompareMo.com provides the leading financial products in the country. Simply choose a bank product and enter your personal specifications, and the system will show you relevant search results. After choosing the right product, eCompareMo also offers FREE application processing assistance, saving you the hassle of repeatedly going to banks for your application.

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