Build Your Future with the Right Housing Loan in the Philippines

A housing loan is a type of financing offered by a bank or a financial institution to a borrower for real estate purposes such as purchase, renovation, construction, and refinancing. Housing loans are granted to homeowners and individuals who want to have their own homes but do not have enough savings or liquid funds to make immediate purchases or other improvements. Because of this, borrowers can pay their loans in an installment basis, thus making home ownership much easier.

Since housing loans are generally large in amount, a form of payment security is needed. For mortgages, banks will hold the property rights to the home as a collateral until the borrower completes his payments.

Each financial institution that offers mortgage loan has a different set of requirements. Aside from strict requirements and thorough investigations, the process of mortgage application can also be tenuous for some people.

To streamline your mortgage loan application, will give you the right mortgage loan that suits your budget and lifestyle.

Before applying, individuals must first meet the following eligibility and document requirements:


  • Must be a Filipino citizen. For foreigners they are allowed to apply as long as they submit acceptable visa like working visa issued by embassy officials, quota/non quota immigrant visa or sec 13A visa
  • At least 21 years old but not to exceed 65 years old upon loan maturity
  • Must have a minimum monthly salary of P50,000.00
  • Must have a stable source of income from employment or business
  • For employed applicant, must have a regular working status with at least 2 years of tenure
  • For self-employed, must own a business for at least 2 years of successful and profitable operation

Documents Required

  • Completed and signed housing application form
  • Clear copy of at least 2 valid ID with photo such as Passport, Driver's License, PRC IS, SSS ID and such
  • For employed applicant: photocopy of latest ITR or income tax return, original copy of certificate of employment, copy of at least 3 months payslips
  • For self-employed applicant: photocopy of DTI or SEC registration, audited financial statements for the past 2 years, etc.
  • For self-employed applicant: Latest 6-month bank statements w/ authorization to conduct bank verification
  • For self-employed applicant: List of trade references (at least 3 suppliers and 3 customers with telephone numbers and contact persons)
  • For foreigners: photocopy of Alien Certificate of Registration (ACR) indicating Visa status as Permanent Immigrant, or Alien Employment Permit (AEP), or Visa ID

Leading Banks Offering Housing Loan in the Philippines

Whether you are planning on buying a new house, refinancing an existing house or constructing a house from scratch, there are various banks in the Philippines offering financing solutions for all of these through housing loans


Housing Loan Rates, Terms, and Charges

Housing loan providers in the Philippines charge different interest rate for home loans. The rate of interest also depends on the eligibility, terms and loan amount. So before applying for a home loan, borrowers should do their research first to get the lowest possible interest rates in the market.

The terms or period wherein you can repay your mortgage loan will depend on you. The usual term for housing loan Philippines ranges from 5 years minimum to 25 years or even 30 years maximum.

Prior to housing loan application, borrowers will need to pay an appraisal fee regardless whether they will be a or not plus the fee for the processing of their loan application.