Compare Housing Loan Rates in the

Philippines
They say, Home is where the heart is, an axiom that defines the purpose and meaning of a
homestead, a place to put down roots, raise a family and grow old. The system of home loans in
the Philippines is designed to help Filipinos realise their dreams of owning their own home, with
attractive features that make this commitment an ensuing pleasure, and something that is well
within the reach of most people in the Philippines. After all, winning an important milestone
such as the ownership of a home requires helping hands - those provided by a competent home
loan, from an equally earnest Philippine bank.

Housing Loan Interest Rates - Philippines

Bank Name

Loan Name
Asia United Bank
Housing Loan
Bank of Commerce
Housing Loan

Interest
Rate
NA
NA

BDO Housing Loan 5.50%

BPI Housing Loan

5.5%

China Bank
NA
Housing Loan
China Bank Savings
NA
Housing Loan
CTBC Bank
NA
Housing Loan
East West Bank
6.00%
Housing Loan
Equicom Savings
NA
Bank Housing Loan
HSBC Housing
4.99%
Loan
Land Bank Housing
Loan

NA

Loan Amount
P500,000.00 -80% of appraised
value of property
P500,000.00 -80% of appraised
value of property
P500,000.00 -80% of appraised
value of property
P400,000.00 -70% of appraised
value of property
P500,000-P25,000,000
P400,000-P25,000,000
P500,000-P25,000,000
P500,000.00 -80% of appraised
value of property
P300,000.00 -60% of appraised
value of property
P700,000-P50,000,000
70% of appraised value for loans
of P3.5 M and <60% for loans
above P3.5 M

Loan
Tenure
Upto 20
years
10 years -20
years
1 year- 20
years
1 year- 25
years
1 year- 25
years
NA
Upto 20
years
1 year- 30
years
Upto 25
years
NA
Upto 20
years

MayBank Housing
6.00%
Loan
MetroBank Housing
5.50%
Loan
PBCOM Housing
NA
Loan
PNB Housing Loan 5.75%
RCBC Housing
NA
Loan
Robinsons Bank
NA
Housing Loan
Security Bank
5.25%
Housing Loan
Sterling Bank of
NA
Asia Housing Loan
UCPB Housing
NA
Loan
Veterans Bank
NA
Housing Loan

P500,000.00 -80% of appraised

value of property

Upto 15
years
Upto 25
80% of appraised value of property
Years
P500,000.00 -80% of appraised
Upto 20
value of property
years
Upto 10
80% of appraised value of property
years
P300,000.00 -80% of appraised
NA
value of property
Upto 80% of appraised value of
Upto 15
property
years
P1,000,000 -80% of appraised
Upto 20
value of property
years
P500,000.00 - upto P10M 80% of 1 year- 20
appraised value of property
years
P500,000.00 -80% of appraised
Upto 20
value of property
years
P375,000.00 -80% of appraised
Upto 20
value of property
years

As the name suggests, a home loan is basically an influx of funds that the bank loans you in
order to buy a new home, condominium, land, construct a new home or renovate an existing one.
Based on inherent factors, home loans in the Philippines can be classified into two typesConventional Housing Loan:
The popular home loan option, this allows you to make fixed monthly payments for a certain
duration of time or term. Generally, conventional home loans amount to a maximum of PHP
500,000, with tenures ranging up to 20 years.
Flexi Housing Loan:
A specialist home loan variety, these are connected to your current account. The perks associated
with this loan include the possibility of decreasing the applicable interest rate, withdrawal of
excess payments made into the current account and choice to start principal repayment at any
chosen time.
The various factors that play a part to determine the loan amount applicable to you include- your
age, monthly gross income, the type of property that you propose to purchase, the location of the
said property and its current market value.
Pag-IBIG Housing Loan

Perhaps, the most popular and sought after loan instrument in the country, the Pag-IBIG Housing
Loan by HDMF (Home Development Mutual Fund) has been fulfilling the housing dreams of
millions of Filipinos since its inception in 1978. Managed by the Government of Philippines, this
option is open for both workers from the public as well as the private sector and offers affordable
and rates and terms.
Projects Covered

Purchasing a lot, condo unit or a townhouse. New and old properties are both covered
under this scheme.

For completion or construction of a house on a lot. Related costs are covered.

For procuring a fully developed lot in a residential locality whose area does not exceed
1K square meters.

Home improvement undertakings such as making enhancements to an existing property

like building an additional floor and other allied tasks.

Mortgage refinancing from an institution listed under the fund rules.

To be eligible for a housing loan under this scheme, the member should have paid into the fund
for at least 2 years. Apart from resident Filipinos, this scheme is also open for OFWs (Overseas
Filipino Workers). It comes with flexible term options that can go up to 30 years, provided for
repayment of the loan amount on amortization basis. If youre looking for an affordable housing
loan deal that comes with trust, this is ideal option for you.
Read How to choose the best housing loan

When and Why to take Housing Loans?

If the desire of buying your dream home has been on your mind since a long time, but you have
been postponing it since a long time due to lack of adequate funds, the it is time for you to take a
comprehensive housing loan. Choose a housing loan which is available at an affordable rate of
interest and gives you a comfortable repayment tenure. This will provide adequate financial
funds for you to acquire a house. There are banks which offer flexibility in terms of the
repayment amount as well; availing for a housing loan from such a bank is a very wise option.

Leading Banks Offering Housing Loan in Philippines

BDO Housing Loan
One of the leading banks in Philippines, they offer various housing loan options with flexible
schemes. You can avail BDO housing loans for purchasing a new house, constructing one or
renovating the present house. Enjoy low interest rates and high loan quantum. The flexible

repayment terms, fast processing time and rewards earned (via the BDO rewards program) are
the some of the unique benefits offered on the home loan schemes by BDO.
BPI Housing Loan
BPI offers tailor-made housing loan options especially designed to suit the varied needs of the
wide customer base. Loans are available for purchasing a new house, constructing one from the
scratch or renovating an existing house. The comprehensive housing loans plan are extremely
affordable and easy to apply.
Metrobank Housing Loan
Be it constructing a house from scratch, buying a new house or renovating your old house,
Metrobank provides financing solutions for all of these by offering housing loans. A
comprehensive structure, affordable interest rates, easy repayment options make this a very
lucrative option amongst customers. In addition to these, Metrobank is very popular for its
impeccable service and quick loan disbursal.

Eligibility and Requirements for Housing Loan

1. Duly filled housing loan application form

2. Photocopy of ID such as driver's license, passport, SSS ID, Postal ID, PRC ID etc

3. Copy of latest income Tax Return

4. Copy of Building plan

5. Documentation for salaried applicants:

o Original copy of Certificate of Employment
o Photocopy of last full month pay slip

6. Documentation for self Employed applicants:

o Photocopy of DTI registration or SEC
o Copy of Audited Financial Statements of the past year

*The above mentioned documentation are subjected to change bank wise

How to calculate repayment amount Home Loan EMI

calculators

A Housing Loan Calculator is a dynamic tool, on every banks website, which enlightens the
borrower about the financial aspects and costs involved, when availing a housing loan. This
helps the borrower in taking key decisions like deciding the loan tenure, planning his/her
monthly budget depending on the EMIs to be paid, and such like. With the help of a Housing
Loan Calculator, a borrower can end up getting the best possible deal while availing the loan.
A few basic details like loan tenure, loan amount and interest rates need to be entered in the
calculator. Immediately after this, you get to the amount you need to pay every month as easy
installments and interest.

How BankBazaar.ph helps you to pick the right housing loan

BankBazaar.ph is a third party comparison website for helping customers find the best
loan/financial deals provided by the leading banks in Philippines. This website has a very unique
model as it gives credible, neutral, and unbiased information, which works in the best interest of
the customers. This prevents you from making a lopsided judgement. With the help of
Bankbazaar.ph you can have a look at various parameters, crucial for a housing loan, like interest
rates, loan tenure, loan margin, etc. as offered by the loan schemes of different banks. This helps
you in selecting the deal which suits your requirements perfectly.

FAQs for Housing Loans

1. What are the categories of housing loans that the leading banks in Philippines offer?
The leading banks in Philippines offer housing loans for purchasing a new house,
constructing one or renovating the present house. For the convenience of customers these
loans come with affordable interest rates, flexible repayment options (offered by some
banks), and are disbursed quickly with hassle-free documentation process.
2. I want to avail a housing loan in Philippines. Which bank should I consider for
taking a loan if I want flexible repayment terms and affordable rates of interest?
The best option for you is to avail a housing loan from BDO. The bank offers flexible
repayment terms for the convenience of customers. High loan quantum and low interest
rates are also some lucrative features of the loan. With the BDO rewards program, you
can enjoy some attractive benefits and rewards on availing a housing loan offered by the
bank.
3. Is a Home Loan Calculator useful? If yes, then how can I make use of it?
Yes, a housing Loan Calculator is a very useful and unique tool provided by the banks on
their website. Every borrower who is intending to take a home loan must make use of this
tool. You have to put some basic details like loan tenure, loan amount and interest rates in
the calculator, and the results will show you the possible EMI that you will have to pay

every month for availing the loan. This will help you in financial planning and chalking
out your monthly budget.
4. What are the factors that determine the housing loan amount that a borrower can
avail?
The various factors that play a part to determine the loan amount applicable to a borrower
is his age, monthly gross income, the type of property that he/she proposes to purchase,
the location of the said property and current market value/price of that property.