See our featured lenders on the right side. Only online applications are considered. Why. Because vetting of your application also happens online. This means your ID is scanned on all credit bureaus to ascertain risk, online. But all in all the application process is extremely easy.
You will be required to create an account and submit your personal details including bank account details and employment history. Credit profile rating : Must be good or acceptable.
There was a time around 2004-2007 where borrowers could find stated income lot loans. We recall at least one major lender who offered a stated lot loan product. Shockingly enough (wink, wink), that lender no longer exists in its previous form. Like many stated income loan products of its day, many borrowers and lenders bit off more than they could chew leading to high foreclosure rates and tightened lending guidelines.
To the best of our knowledge, no lenders are offering a residential stated income lot loan program. Cash out Loans on Land. There are some credit unions and banks which write loans that are secured by a land.
WhiteRockLoans. com has no knowledge of or control over the loan terms offered by a lender. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.
Late Payments Hurt Your Credit Score. Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay.
If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments.
You should have a three-year contract if you are a household worker. You should have an SPA (special power of attorney) for your appointed loan administrator. You should have a proof of profit for at least two years if you own a business. These are the documents that you have to submit to apply for a BDO Loan: Filled out, Download BDO Home Loan Application Form One valid Identification Card Marriage contract for married individuals COE or Certificate of Employment where your salary is stated if you are currently employed Receipt or Remittance form for at least three months if you are currently employed abroad Your current Crew Contract if can you get cash advance from amex work as a seafarer Your COE and your contract if you are currently employed abroad Financial statements, ITR, Statement of Bank Account for at least three months, DTI Certificate of Registration, Company profileand any kind of proof of income for business owners.
How to Approve. Upon submission of your complete requirements, you just need to wait for about seven to ten days for advice of approval from BDO. Just make sure that you meet the qualifications and that you have submitted all the required documents for Banco De Oro Housing Loan for OFW. Make sure to use the BDO Home Loan Calculator so you will have a clear idea of the interest rate and other important details.