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Compare the best Home Loans in Philippines

The right home starts with the right home loan decision. Compare housing loans from Philippines providers and find the one that is most suited for you.

Compare home loans

Name Product Min interest rate per year Max term of loan Max appraisal as loanable amount Processing fee
BDO Home Loan
BDO Home Loan
5.5%
20 years
80%
PHP3,000
BPI Family Bank Home Loan
BPI Family Bank Home Loan
5.5%
25 years
80%
included in registration fee
EastWest Home Loan
EastWest Home Loan
5.5%
30 years
90%
Minimum: PHP3,500
Maximum: PHP7,500
Security Bank Home Loan
Security Bank Home Loan
5.25%
20 years
80%
PHP5,000
Unionbank Home Loan
Unionbank Home Loan
5.25%
20 years
90%
Within Metro Manila: PHP3,500
Outside Metro Manila: PHP4,000
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Frequently asked questions

Q: What is a home loan?

Are you ready to take that leap of faith and invest in your dream home but your savings aren’t enough to fulfill that aspiration? Whether you’re thinking of settling down in a condominium or house and lot, you can consider applying for a home loan to help you buy that dream home.

Q: What documents should I prepare when applying for a home loan?

  • For locally-employed borrowers
    • 2 valid government-issued IDs
    • Marriage contract, if applicable
    • Latest Certificate of Employment (COE) including compensation
    • Latest Income Tax Return (ITR, Form 2316) for the last 2 years
    • Payslips for the last 3 months
    • Original copy of bank statements for the last 3 months
    • Mortgage Redemption Insurance application form
    • Relevant collateral documents
  • For self-employed borrowers
    • 2 valid government-issued IDs
    • Marriage contract, if applicable
    • Income Tax Return (ITR) with Statement of Assets and Liabilities for the last 3 years
      • BIR Form 1701 for sole proprietorship;
      • BIR Form 1703 for corporation
    • Audited financial statement for the last 3 years
    • Certificate of Business Registration from DTI or SEC
    • Articles of Partnership or Articles of Incorporation and By-Laws with SEC Registration Certificate
    • General information sheet
    • Original copy of bank statements for the last 6 months
    • Company profile
    • List of trade references (with at least 3 phone numbers)
    • Lease/Rental contracts
  • For OFW borrowers
    • 2 valid government-issued IDs of borrower/spouse/co-borrower/signatories of the loan
    • Marriage contract, if applicable
    • Photocopy of passport
    • Latest Certificate of Employment and compensation (issued within the last 6 months) authenticated by the Philippine Consulate
    • Latest crew contract (for seafarer) and exit pass validated by POEA
    • Latest employment contract (for land-based workers)
    • Allotment slip
    • Payslips for the last 3 months or original copy of bank statements for the last 3 months
    • Consularized Special Power of Attorney (if with attorney in fact)
    • Mortgage Redemption Insurance Application Form
    • Relevant collateral documents
  • Relevant collateral documents
    • Copy of Collateral Title (TCT/CTC)
    • Copy of Tax Declaration on land and/or improvement
    • Appraisal Fee Official Receipt (paid to the bank)
    • Lot plan with vicinity map certified by licensed geodetic engineer
    • Master Deed of Declaration and Restrictions (for condominium)
    • If acquisition from accredited developer:
      • Contract to sell or reservation agreement
    • If home construction or renovation:
      • Bill of materials and estimates of construction and labor cost
      • Floor and building plan and building specifications
      • Building permit
    • If loan take out or home equity:
      • Proof of Amortization Payments for the last 6 months
      • Statement of Account from mortgagee bank
    • If purchase of lot or house & lot:
      • Deed of Absolute Sale or contract to sel

Q: How long do banks or financial institutions process my application?

As long as the requirements are complete, processing time is from 4 to 15 working days, depending upon the bank.

Q: What is the lowest home loan interest rate?

Whether it’s house & lot, condominium or vacant lot, the lowest interest rate is 5.25%.

Q: How much can I borrow with a home loan?

You can borrow an amount ranging from 60% to 90% of the property value depending upon the bank, type of property, and the total amount of property.

For example, if the value of the property you are interested in is ₱3M, you can borrow between ₱1.8M and ₱2.7M.

Q: How long is the term of home loan?

Term of Loan
Condominium10 Years
House and Lot20 Years
Vacant Lot5 Years

Q: What banks and financial institutions offer home loans?

Here’s some of banks and financial institutions that you can compare when applying for a home loan:

  • Banco de Oro
  • Security Bank
  • PSBank
  • EastWest
  • Sterling Bank of Asia
  • Maybank
  • Philippine National Bank
  • BPI Family Savings Bank
  • Robinsons Bank

Q: Definition of Terms:

Loan Amount

This is the total amount of loan specified in the contract that the borrower promises to repay.

Max Loanable Amount

This is the total amount that the borrower is authorized to borrow.

Fixed-in Period

This is the period of time within the whole term of the loan wherein the interest rate is fixed. Whether the interest rate goes up or down, the borrower will have to pay the monthly amortization based on the interest rate specified for the fixed-in period. Once the fixed-in period comes to an end, the borrower may arrange for another fixed-in period until such time that the whole term matures.

Interest Rate

This is the amount, in percentage, being charged to the borrower by the lender for the use of its money.

Monthly Amortization

This refers to the fixed amount the borrower should pay the lender every month.

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