How to compare bank financing for your next property

Bank financing is another route to explore when buying a property. BDO lists home-loan purposes including house-and-lot, townhouse, condominium, and vacant-lot purchases. BPI also offers housing loans and publishes its application requirements. These are options to investigate, not endorsements or confirmed partnerships with Right Choice Realty.

Ask each lender for a written estimate using the same property price, loan amount, and repayment term. Compare the required equity, appraisal and processing fees, insurance, fixed-rate period, repricing rules, and early-payment terms. A lower initial monthly payment alone does not tell you the full cost.

For an employed, self-employed, or overseas buyer, the income documents may differ. Confirm the lender’s requirements before gathering paperwork, and submit financial documents through its official channels.

When you contact Right Choice Realty, include the listing name and whether you are considering a bank loan. We can discuss the property information and seller’s proposed terms. Only the lender can confirm eligibility, valuation, and approval. Before paying a reservation or signing an agreement, clarify what happens if financing is delayed or declined.