In the Philippines, many banks offer financial assistance in the form of housing loans that are customized for different types of borrowers. These loans help people buy, build, or refinance homes, with flexible payment options, different interest rates, and qualifications for various financial situations.
While some home loans make it easier to borrow without needing a large upfront payment, some are designed to support Overseas Filipino Workers (OFWs) and offer low down payment options, showing the banks’ commitment to making homeownership possible for more Filipinos. This article lists all the home loan offerings of some of the different banking institutions in the Philippines.
Types of Home Loans Offered by Banks
The home loan programs offered by banks in the Philippines can be categorized into several general types based on their purpose and features:
- Home Purchase Loans: These loans are primarily designed for individuals looking to buy residential properties, including houses, lots, townhouses, and condominiums, all of which offer various terms and conditions to facilitate property acquisition.
- Construction Loans: Focused on financing the building of new homes, these loans cater to borrowers who wish to construct residential properties. They usually provide flexible terms specifically for construction purposes.
- Refinancing Loans: These options allow homeowners to transfer existing loans for better rates or terms. This type of loan program enables borrowers to reassess their current mortgage terms.
- Equity and Personal Consumption Loans: These loans enable borrowers to access funds using their existing property as collateral for various personal expenses, featuring flexibility in fund usage.
- Specialized Programs for Specific Borrowers: Certain programs target specific demographics, such as Overseas Filipino Workers (OFWs) or individuals purchasing from accredited developers.
For more specific details on the actual home loan programs, please see the list below:
1. Home Loan All-In Financing
Provider: Security Bank
Best for: Homebuyers looking for a hassle-free loan with no initial cash-out
This program allows eligible clients to include upfront bank fees, such as processing and documentary fees, within their loanable amount. The total bank fees are distributed throughout the loan term, simplifying the process and reducing the burden of upfront payments. It offers the convenience of starting a home loan without immediate out-of-pocket costs.
Features:
- No immediate cash-out required
- Includes bank fees like Mortgage Redemption Insurance and Fire Insurance (first year only)
- Upfront bank fees integrated into the loan amount
- Fees included:
- Documentary Stamp Tax on REM and PN
- Mortgage Registration Fees
- Notarial Fees on REM and PN
- Processing Fees
- Cancellation Fees
- First-year Mortgage Redemption Insurance premium
- First-year Fire Insurance premium
- Appraisal fees not included and must be paid during application
- Loan amount can include up to 90% of the property’s value
2. Security Bank Home Equity Loan
Provider: Security Bank
Best for: Borrowers looking to use their home’s value for large expenses, refinancing, or debt consolidation
The Security Bank Home Equity Loan allows homeowners to borrow against their property’s value for various personal uses. Borrowers can access up to 80% of the appraised value for loans up to PHP 10,000,000. It offers flexible loan terms with a quick approval process within five banking days.
Features:
- Minimum loan: PHP 500,000 (existing clients), PHP 1,000,000 (new clients)
- Maximum loan: PHP 10,000,000
- Loan-to-value ratio: Up to 80% for employed borrowers, 70% for self-employed
- Loan term: Up to 15 years for owner-occupied properties, 10 years for non-owner-occupied
- Interest rates: 6.80% p.a. (special promo rate for 5-year fixed period until December 31, 2024)
- Eligibility: 21 to 65 years old, minimum income PHP 50,000 per month
- Fees: Appraisal Fee (PHP 3,500–PHP 4,000), Amendment Fee (PHP 3,500–PHP 5,000), Estimated additional fees (2.5% to 3% of loan amount)
3. Easy Home Loan
Provider: Landbank of the Philippines (LBP)
Best for: Individuals looking to purchase, build, or refinance a home
The Easy Home Loan assists buyers in acquiring or constructing their dream house. It also allows homeowners to refinance their current home loans from other banks or financing firms. This program caters to both employed individuals and business owners.
Features:
- Loan Purpose: Purchase of a townhouse, condominium, house and lot, lot, or other residential unit; home construction; refinancing of existing loans
- Loanable Amount: Minimum of P500,000
- Eligible Borrowers: Filipino citizens aged 21-65, employed or with lawful business
- Tenor: Up to 20 years, depending on borrower’s age
- Collateral: Secured by acceptable real estate properties
- Requirements: Employment certificate, pay slips, billing statements for employees; business registration and financial documents for business owners
- Servicing Lending Centers: Available nationwide with centers across major regions and provinces
4. Developer’s End-Buyers Financing Tie-up
Provider: Landbank (LBP)
Best for: Homebuyers purchasing from accredited developers or constructing homes.
This program enables individuals to acquire or build homes through accredited developers, providing financing options for both the buyer and the developer. It supports the acquisition of lots, houses and lots, townhouses, or condominiums. The loan can also be used for home construction on owned lots or as part of a socialized housing project.
Features:
- Loan Purpose: Acquisition or construction of residential properties.
- Loanable Amount: Up to 90% of the contract price; for socialized housing, loan based on outstanding balance.
- Tenor: Maximum 20 years (30 years for socialized housing).
- Collateral: Real Estate Mortgage on the property to be acquired.
- Eligible Borrowers: Buyers of properties from accredited developers.
- Eligible Properties: Lots, ready-for-occupancy properties, house and lots, townhouses, condominiums.
- Documentary Requirements: Loan application form, income certificate, tax returns, and property documents from developers.
5. Bahay para sa Bagong Bayani (3B)
Provider: Landbank
Best for: Overseas Filipino Workers (OFWs) looking to purchase, build, or renovate their homes.
The Bahay para sa Bagong Bayani (3B) program is a special housing loan designed to help OFWs acquire, build, or renovate homes. It offers flexible terms and conditions, catering specifically to the financial capabilities of OFWs. The loan program also allows for refinancing of an existing housing loan under certain conditions.
Features:
- Eligible borrowers: Filipino OFWs with a valid contract, aged 21 to 65 years old, with no adverse credit findings.
- Eligible purposes: Purchase of residential lots, homes, condominiums, townhouses; construction or renovation; refinancing of existing loans.
- Loan amount: Based on the OFW’s paying capacity or up to 80% of the collateral value.
- Tenor: 15 years for individual borrowers; 20 years if a co-borrower is included.
- Collateral: Object of financing or separate prime property.
- Interest rate: Variable or fixed rates, subject to repricing annually.
- Special rates: For socialized housing, 1% below posted EHL rates.
6. BPI Housing Loan
Provider: Bank of the Philippine Islands (BPI)
Best for: Individuals or families looking to buy or build a new home.
The BPI Housing Loan allows you to purchase a house and lot, townhouse, condominium, or vacant lot with flexible payment terms. With affordable rates and down payments as low as 10%, it is designed to help you secure your dream home. BPI offers assistance through every step of the loan application process, ensuring a reliable service.
Features:
- Down payment: As low as 10% (subject to property appraisal)
- Loan term: 1 to 20 years
- Interest rates: Starting at 7.00% (depending on fixing period)
- Minimum loan amount: Php 400,000
- Maximum loan amount: Up to 90% of the property value
- Eligible properties: House and lot, townhouse, condominium, vacant lot
- Minimum household income: Php 40,000
- Age requirement: 21-65 years old upon loan maturity
7. MyBahay
Provider: BPI
Best for: Families seeking affordable housing with low income requirements
The BPI MyBahay loan program offers a flexible and affordable solution for families looking to acquire their dream home. It features a low down payment option and a long loan term of up to 30 years, ensuring manageable monthly payments. Additionally, borrowers can earn a 2% rebate on interest annually if payments are made on time.
Features:
- Down Payment as low as 5% of the property’s appraised value
- Loan term up to 30 years
- Earn 2% interest rebate annually for timely payments
- Minimum income requirement: Php 25,000 monthly
- Loanable amount: Php 300,000 to Php 3,325,000
- Eligible for residential properties (excluding vacant lots)
- Repayment through automatic debit arrangement, GCash, or BPI payment centers
8. BPI Housing Loan for Renovation
Provider: BPI
Best for: Homeowners looking to renovate, remodel, or repair their homes.
The BPI Housing Loan for Renovation offers a flexible and affordable way to improve your home. With payment terms of up to 20 years and down payment options as low as 10%, it is designed for homeowners seeking to enhance their living spaces. Applicants can access the loan through BPI branches or its accredited brokers and developers.
Features:
- Loan Amount: Minimum Php 400,000, up to 90% of the property value
- Loan Term: 1 year to 20 years
- Interest Rates: Starts at 7.00% for a 1-year fixing period
- Minimum Income Requirement: Php 40,000 per household
- Down Payment: As low as 10% (subject to property appraisal)
- Application Channels: BPI branches, accredited brokers, or online
9. BPI Property Equity Loan
Provider: BPI
Best for: Individuals looking to access additional funds using their existing real estate property
BPI Property Equity Loan allows borrowers to use their existing real estate as collateral to get extra funds. It offers low-interest rates and flexible payment terms, making it ideal for home construction or improvement projects. Borrowers can choose from various fixing periods, with loan terms up to 5 years.
Features:
- Loan amounts: Php 400,000 minimum, up to 90% of property value
- Loan term: 1 to 5 years
- Interest rates: 8.00% (1-year fixing) to 9.25% (5-year fixing)
- Eligible for house construction, lot purchase, and other property improvements
- Applicants must be 21-65 years old with a minimum household income of Php 40,000
10. RCBC Regular Home Loan
Provider: Rizal Commercial Banking Corporation (RCBC)
Best for: Individuals seeking low monthly amortization for a house, lot, or condominium purchase
The RCBC Regular Home Loan offers flexible terms for individuals looking to purchase real estate with a minimum loan amount of Php 1,000,000. Applicants can choose fixing options and loan periods ranging from 1 to 20 years, providing manageable repayment plans. The program is open to both employed and self-employed Filipino citizens, dual citizens, and foreigners married to Filipinos.
Features:
- Minimum Loan Amount: Php 300,000 to Php 1,000,000
- Downpayment: 20%
- Loan Period: 1-20 years
- Interest Rate: 7.00% (1-year fixing option)
- Eligibility:
- Employed: Minimum monthly income Php 40,000, age 21-65 years old, Filipino or dual citizen
- Self-employed: Business must be operational for 2 years, age 21-70 years old
- Required Documents:
- Loan application form, Certificate of Employment or financial documents, 2 valid IDs, utility bill
11. RCBC Home Loan Plus
Provider: RCBC
Best for: Individuals looking to purchase or build their dream home, whether a house and lot, condo, or vacant land.
RCBC Home Loan Plus offers flexible financing for home acquisition, renovation, or even refinancing. With a minimum loan amount of Php 1,000,000, applicants can choose a repayment term ranging from 1 to 20 years. It provides low monthly amortization and worry-free insurance coverage.
Features:
- Minimum Loan Amount: Php 1,000,000
- Downpayment: 20%
- Loan Period: 1-20 years
- Interest Rate: Starts at 7.00%
- Eligible Applicants: Employed individuals or self-employed business owners
- Income Requirements: Minimum gross monthly income of Php 40,000 for employed applicants
- Additional Benefits: Flexible loan terms and pre-owned homes listing available
12. Metrobank Home Loan (Lot Purchase)
Provider: Metrobank
Best for: Individuals looking to purchase a lot or build a home in the Philippines.
Metrobank’s Home Loan program allows individuals to buy residential lots or simultaneously purchase and construct their dream homes. The loan offers flexible terms and competitive interest rates, making it accessible for many Filipinos. It provides an easy application process with minimal requirements.
Features:
- Loan term: Up to 10 years for lot purchase
- Interest rates: Lock-in affordable rates
- Loan purpose: Lot purchase, lot purchase with home construction
- Eligibility: Filipino citizens, minimum monthly family income of PHP 40,000
- OFW eligibility: Active employment with minimum income of USD 1,000
- Quick approval with minimal requirements
13. House Construction Loan
Provider: Metrobank
Best for: Individuals or families looking to build their dream home.
Metrobank’s House Construction Loan provides flexible terms and affordable interest rates for building a home. With this loan, applicants can spread their payments for up to 25 years. It’s designed to ease the financial burden of home construction with minimal requirements for eligibility.
Features:
- Loan term: Up to 25 years
- Affordable interest rates
- Eligibility: Filipino citizen, minimum gross monthly family income of PHP 40,000
- Requirements for employed individuals: Permanent employment for at least two years
- Requirements for business owners: Profitable business operation for at least three years
- OFW eligibility: Employed for at least two years, earning USD 1,000 monthly
14. Metrobank Home Loan (For second home purchase)
Provider: Metrobank
Best for: Individuals looking to invest in a second home or real estate property
Metrobank Home Loan offers flexible financing options for individuals looking to purchase a second home or invest in real estate. With affordable interest rates and payment terms of up to 25 years, this loan is designed to make homeownership more accessible. The loan caters to different purposes, including house construction, refinancing, and personal consumption.
Features:
- Loan term: Up to 25 years
- Affordable interest rates
- Minimal documentation required
- Various loan purposes (house purchase, construction, lot purchase, etc.)
- Eligibility: Filipino citizens, OFWs, and self-employed individuals
- Minimum gross monthly family income: PHP 40,000
- Flexible repayment options
15. Home Loan Reimbursement
Provider: Metrobank
Best for: Individuals seeking reimbursement for property purchases or construction costs
Metrobank’s Home Loan Reimbursement allows borrowers to recoup expenses spent on purchasing or building a property. It offers long-term repayment options and low interest rates, making it easier to afford a home. The loan also has minimal requirements, enabling quick application and approval.
Features:
- Payment terms: Up to 25 years
- Interest rates: Affordable, with lock-in options
- Eligible purposes: Property purchase, construction, refinancing, personal consumption
- Requirements: Filipino citizen, 21 years or older, PHP 40,000 minimum monthly income
- Eligibility: Available to employed individuals, business owners, and OFWs
16. Metrobank Home Refinancing
Provider: Metrobank
Best for: Individuals seeking to transfer their existing home loan for better rates and flexible terms.
Metrobank Home Refinancing offers an opportunity to transfer your current home loan and enjoy more favorable interest rates and flexible repayment options. The program is designed to help you reassess your loan terms, providing a fresh start and the potential to pay off your mortgage faster. It’s an ideal choice for homeowners looking for affordable rates and longer payment terms.
Features:
- Payment term up to 15 years
- Affordable interest rates
- Various loan purposes, including home purchase, lot acquisition, construction, or personal consumption
- Minimum gross monthly family income requirement: PHP 40,000
- Eligibility for employed individuals, business owners, and Overseas Filipino Workers (OFWs)
- OFWs must meet specific employment duration and income criteria
17. Metrobank Personal Consumption Loan
Provider: Metrobank
Best for: Individuals needing extra funds for personal or home-related expenses using their existing property as collateral.
The Metrobank Personal Consumption Loan, also known as a home equity loan, allows borrowers to use their current property to access additional funds. This loan can be used for home improvement, travel, education, or other personal needs. The loan features flexible payment terms and affordable interest rates that suit a range of financial situations.
Features:
- Loan term: Up to 10 years
- Affordable interest rates
- Minimal requirements
- Eligible borrowers must be Filipino citizens
- Borrowers must have a gross monthly family income of at least PHP 40,000
- Overseas Filipino Workers (OFWs) are eligible under specific conditions
- Property used as collateral must be owner-occupied
18. BDO Home Loan
Provider: BDO Unibank, Inc.
Best for: Individuals seeking to purchase a home, build a new property, or renovate an existing residence.
The BDO Home Loan offers flexible financing options for individuals looking to buy real estate, construct new homes, or refurbish existing properties. It provides a variety of payment plans, making it easier for borrowers to manage their finances. Additionally, promotional offers are available, such as lower interest rates and waived fees for online applications.
Features:
- Loan Amount: Up to the property’s appraised value.
- Terms: Varies based on the loan amount and applicant’s profile.
- Age Requirement: Borrowers must be between 21 and 70 years old at the end of the loan term.
- Income Requirement: Minimum gross family income of ₱50,000 per month or equivalent.
- Employment: Must have a stable source of income (e.g., employed for at least two years, self-employed for two consecutive profitable years).
- Application Fees: Appraisal fees range from ₱5,000 to ₱5,500 depending on the location, with additional fees such as a handling fee of ₱3,000.
- Insurance Requirements: Credit life insurance and fire insurance premiums based on the loan amount and property value.
- Promotions: Low rates and waived fees for online applications, available for specific periods.
19. PNB Housing Loan
Provider: Philippine National Bank (PNB)
Best For: Individuals looking to purchase or construct residential properties or refinance existing housing loans.
The PNB Housing Loan is designed to help Filipinos achieve their dream homes through financing options for various property-related needs. Borrowers can utilize the loan for purchasing land, houses, condominiums, or townhouses, as well as for home construction and improvements. Additionally, it provides the opportunity to refinance or take out existing loans for more favorable terms.
Features:
- Eligibility:
- Filipino citizens
- Aged between 21 and 65 years at loan maturity
- Employed or self-employed individuals
- Minimum Loanable Amount:
- Purchase of Lot: PHP 500,000 (available in and outside Metro Manila)
- Purchase of House & Lot, Townhouse, or Condominium: PHP 750,000 (within Metro Manila), PHP 500,000 (outside Metro Manila)
- Maximum Loanable Amount:
- Up to 70% of the appraised value for lots
- Up to 80% of the appraised value for houses, townhouses, and condominiums
20. Union Bank Home Loan Program
Provider: Union Bank of the Philippines
Best For: Individuals seeking to purchase residential properties such as lots, townhouses, or condominiums.
The UnionBank Home Loan Program offers quick approval and a dedicated team to assist you in acquiring your dream home. Whether you are interested in a lot, a townhouse, or a condominium, this program is designed to facilitate your purchase efficiently. With competitive terms and features, you can turn your homeownership dreams into reality.
Features:
- Minimum Loan Amount: ₱200,000
- Maximum Loan Amount: Up to 60% of the appraised value or 90% of the total contract price from accredited real estate developers
- Maximum Loan Term:
- 20 years for condominiums
- 25 years for house and lot or properties under accredited developers with buyback agreements
- Interest Rate: Prevailing rate at loan release; fixed rate options available for 1 to 15 years
- Mode of Payment: Automatic Debit Arrangement via UnionBank account
- Required Documents:
- Filled-out application form
- Valid government-issued ID
- Marriage contract (if married) / Certificate of No Marriage (if single)
- Additional documents for employed, self-employed, or OFW applicants (e.g., COE, pay slips, ITR)
- Property-related documents (e.g., Contract to Sell, Transfer Certificate of Title, Tax Declaration)
- For further inquiries, UnionBank offers a 24-hour customer service hotline.
21. Preferred Home Loan
Provider: Asia United Bank (AUB)
Best for: Individuals seeking personalized home loan services with flexible payment options.
AUB’s Preferred Home Loan offers personalized services to help individuals own their dream homes. The loan covers up to 80% of the property’s appraised value and provides flexible payment terms of up to 20 years. The interest rates vary based on the loan’s fixed-term period.
Features:
- Loanable Amount: Up to 80% of the appraised value, minimum Php 1,000,000
- Term: Up to 20 years
- Interest Rate:
- 7.00% for fixed 1 year
- 6.75% for fixed 3 years
- 6.88% for fixed 5 years
- Form of Payment: Auto Debit Arrangement
- Requirements: Basic application and income requirements
22. HomePlus Loan
Provider: Chinabank
Best for: Individuals seeking financing for home acquisition, renovation, or refinancing.
The Chinabank HomePlus Loan offers flexible financing for home purchases, renovations, and refinancing. Borrowers can secure a loan with a minimum of Php 500,000, with interest rates fixed for up to five years to protect against future rate changes. Loan terms depend on the purpose, with repayment periods ranging from 10 to 20 years based on the type of property.
Features:
- Loan amount: Minimum Php 500,000; maximum 60% of the collateral’s value
- Interest rate:
- 7.50% p.a. fixed for 1 to 3 years
- 8.00% p.a. fixed for 4 to 5 years
- Loan term:
- Vacant lot, home renovation, refinancing: Up to 10 years
- Condominium: Up to 15 years
- House and lot, townhouse: Up to 20 years
- Final loan terms subject to management approval
23. HSBC Home Loan
Provider: HSBC Philippines
Best for: Homebuyers, home builders, those refinancing an existing loan, and individuals seeking home equity loans.
HSBC Home Loans provide flexible and tailored financial solutions for purchasing, building, renovating homes, or refinancing an existing mortgage. The program offers access to competitive interest rates and benefits such as waived loan fees and personalized services. It also includes options for home equity loans and top-up loans for existing clients.
Features:
- Waived loan fees up to PHP100,000
- Loan amounts from PHP6 million to PHP50 million
- Interest repricing options: 1, 2, 3, or 5 years
- Flexible repayment schemes: Straight-Line or Reducing Balance
- Quick loan processing and personalized service
- Top-up loans up to 70% of property value
- Available to Filipinos and OFWs with a minimum gross monthly income of PHP200,000
24. EastWest Home Loan
Provider: EastWest Bank
Best For: Individuals looking to purchase or construct residential properties, including houses, condominiums, townhouses, or vacant lots.
The EastWest Home Loan program is designed to help customers realize their dream of home ownership. It offers financial support for various types of residential properties, ensuring a smooth process from application to disbursement. This program is ideal for first-time homebuyers and those seeking to refinance their existing loans.
Features:
- Loan Amount: Varies based on the applicant’s financial standing and property value.
- Loan Terms: Flexible repayment options available.
- Collateral: Requires a title for the property being financed (TCT for land, CCT for condominiums).
- Application Documents:
- Duly-accomplished application form
- Two valid government-issued IDs
- Financial documentation based on employment type (e.g., COEC for employed individuals, business registration for self-employed).
- Additional Documents for Specific Cases:
- Latest Statement of Account for refinancing
- Business Registration and audited financial statements for self-employed applicants
- Various income verification documents for OFWs, doctors, and those earning from rental or transport businesses.
- Appraisal Fees: Php 3,500 for Metro Manila and Php 5,000 for areas outside Metro Manila (waived for purchases from accredited developers).
- Construction Loans: Require a bill of materials, building plan, and general specifications.
25. MaxiHome Loan
Provider: Maybank Philippines
Best For: Individuals looking to purchase a home, whether it be a townhouse, condominium, or house and lot.
The MaxiHome Loan from Maybank Philippines is designed to assist you in acquiring your dream home. It allows borrowers to finance up to 90% of the appraised value of their property, making homeownership more accessible. With competitive interest rates and flexible loan terms, this program provides an affordable pathway to owning a home.
Features:
- Loan Amount: Minimum of PHP 500,000
- Loan-to-Value Ratio: Up to 90% for houses, lots, and condominiums; 60% for residential lots
- Interest Rates:
- 1-Year Fixing: 6.75% per annum
- 3-Year Fixing: 7.25% per annum
- 5-Year Fixing: 7.50% per annum
- Eligibility Requirements:
- Borrower’s age plus loan term should not exceed 65 years at loan maturity
- Minimum of 2 years of employment or 3 years of profitable business operation
- Special requirements for overseas workers and seafarers
- Application Requirements:
- Completed loan application form
- Government-issued IDs
- Income proof (e.g., payslips, tax returns)
- Collateral documents (e.g., title, tax declaration)
- Repayment: Monthly payments via post-dated checks or auto debit
- Insurance: Life/Mortgage Redemption Insurance and Fire Insurance required
- Application Submission: Can be made at any Maybank branch nationwide
Video: How to Get Approved With Bank Home Loans in the Philippines
Now that you already know the different home loan options offered by the banks in the Philippines, you might want to check out this video from Leslie Lazarte for tips on how to get approved for one:
Summary
There is a huge variety of private housing loan options available from banks in the Philippines, catering to diverse borrower needs such as home purchases, construction, and refinancing. With flexible terms and specialized programs for specific demographics, these loans aim to make homeownership more attainable for Filipinos. Explore the different loan programs today and take the first step toward securing your dream home—contact your preferred bank to find the perfect financing solution that fits your needs!