best housing loan in the Philippines l Moneymax

When exploring the best housing loans in the Philippines, the first thing that comes to mind is the Pag-IBIG Housing Loan. With the government institution approving a total of PHP 63.75 billion in housing loans in 2020 alone,[1] many Filipinos chose this path to secure a home for their families or for their own personal investment.

However, banks also offer home loans that work to your advantage. They offer competitive rates and flexible terms that won’t hurt your budget.

If you’re planning to get financing to purchase a new residence, we’ve narrowed down the best housing loan options for you. Check out our list of the best banks for a housing loan below.

What’s the Best Housing Loan in the Philippines? Here are 10 Great Options 

Researching the best housing loan in the Philippines can be overwhelming, especially for busy people like you. Here’s our detailed list of banks and each housing loan’s features that you need to know.

1. RCBC

best housing loan in the Philippines - RCBC

RCBC offers the lowest minimum loan amount on this list. This is particularly useful if you plan to borrow just a fraction of the home’s price tag and repay the loan as quickly as possible.

RCBC Home Loan Features

  • Minimum loan amount: PHP 300,000
  • Interest rate: 6.38% to 10.5% depending on the term
  • Loan term: Up to 20 years
  • Fixing option of one to 20 years
  • Can be used for the purchase of a house and lot, vacant lot, and home renovation
  • Can also serve as a multi-purpose loan or used for home loan refinancing

Who Can Apply for an RCBC Home Loan?

  • Filipino or dual citizen
  • If a foreigner, the applicant must be married to a Filipino citizen.
  • At least 21 years old upon loan application
  • Up to 65 years old upon loan maturity (70 years old for self-employed applicants)
  • Must have a mobile number and a residence or office landline
  • Minimum employment tenure of one year and minimum gross monthly income of PHP 40,000
  • If an OFW, the applicant must have worked abroad for at least two consecutive years
  • If self-employed, the business must be profitable for the last two years

RCBC Home Loan Requirements

  • Accomplished RCBC Home Loan application form
  • Copy of Transfer Certificate of Title (TCT) and Tax Declaration (Land and Improvement)
  • Bill of Materials (Construction)
  • Documents for employed applicants:
    • Certificate of Employment
    • Latest Income Tax Return (ITR)
    • Two government-issued IDs
    • Tax Identification Number (TIN)
    • Utility bill
  • Documents for self-employed applicants:
    • DTI Business Registration Certificate
    • Audited financial statements
    • Income Tax Return
    • Bank statements

See also: Home Renovation 101: How to Renovate Your Home on a Budget

2. UnionBank

best housing loan in the Philippines - UnionBank

UnionBank is one of the fastest growing banks in the Philippines that offer attractive financial products to Filipinos. It won the most number of awards among all participating banking institutions, at The Asian Banker Financial Technology Innovation Awards 2021.[2] Also recently, UnionBank bagged the top award as the Asia Trailblazer Institution of the Year at the 2021 Retail Banker International Asia Trailblazer Awards in Singapore.[3]

If you’re looking to get a home loan from a bank that’s well-recognized in the Asian market, UnionBank may be the right choice for you. 

It’s also easy to get a UnionBank home loan with its wide range of accredited real estate developers. So if you’re buying from any of its accredited developers, like Avida, Ayala, Camella, Filinvest, Megaworld, or SMDC, apply for a UnionBank housing loan (as long as you satisfy the bank’s requirements).

UnionBank Home Loan Features

  • Minimum loan amount PHP 500,000
  • Maximum loan amount: 90% of the property’s appraised value
  • Interest rates: 6% to 11%
  • Loan term: One to 20 years
  • Allows 10% to 99% down payment
  • Can be used for purchase of lot, house and lot, or condominium, house construction, refinancing, or home renovation
  • Quick approval time 

Who Can Apply for a UnionBank Home Loan?

  • 21 to 65 years old but not exceeding age 70 upon loan maturity
  • Filipino or former Filipino citizen
  • Employees with permanent status
  • Self-employed individuals whose business has been operating profitably for at least two years
  • OFWs

UnionBank Home Loan Requirements

  • Accomplished Unionbank Home Loan application form
  • Valid ID (SSS/GSIS/TIN ID)
  • Marriage contract (if married)
  • Latest income documents for employed applicants:
    • Certificate of Employment with salary details
    • Payslips for the last three months
  • Latest income documents for self-employed applicants:
    • DTI or SEC Business Registration Certificate
    • Financial statements
    • Bank statements for the last six months
    • ITR
    • List of customers or suppliers with contact information
  • Additional documents for OFWs:
    • Valid passport with entry and exit stamps
    • Original consularized Special Power of Attorney

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3. Security Bank

best housing loan in the Philippines - Security Bank

The Security Bank home loan was named the Home Loan Product of the Year in 2019 at the Asian Banking and Finance’s Wholesale and Retail Banking Awards.[4] This is a strong testament to the bank’s high-quality loans and services.

On top of that, Security Bank brought home seven awards at this year’s 18th Philippine Quill Awards for its corporate social responsibility initiatives and communications programs.

Security Bank Home Loan Features

  • Minimum loan amount: PHP 1 million 
  • Maximum loan amount: 80% of the property’s appraised value, up to PHP 10 million
  • Interest rates:
    • 6.25% fixed for one to three years
    • 6.75% fixed for five years
    • 7.75% fixed for 10 years
  • Loan term: Up to 20 years
  • Quick approval time of ten banking days, depending on submitted documents
  • Can be used for the purchase of a house and lot, vacant lot, or condominium unit
  • Can also be used for home construction, renovation, or refinancing

Who Can Apply for a Security Bank Home Loan?

  • At least 21 years old but not more than 65 years old upon loan maturity
  • Earning a combined monthly income of PHP 50,000
  • Continuous employment for at least two years
  • For self-employed: Must be operating a legitimate and profitable business for the last three years

Security Bank Home Loan Requirements

  • Accomplished loan application form
  • A clear copy of one valid ID with picture (same requirement for spouse or co-borrower)
  • For employed applicants – Any of the following latest income documents:
    • Certificate of Employment and Compensation
    • ITR
    • Payslips for the last three months
    • Bank statements for the last three months
  • For self-employed applicants:
    • ITR
    • Any of these income documents: Audited financial statements for one year, bank statements for the last three months, or rental contracts
  • Mortgage Redemption Insurance (MRI) application form
  • Special Power of Attorney (for OFWs only)
  • Authorization Letter Template for Property Collateral Verification and Tax Mapping

Read more: Bank Housing Loan Approval Tips to Help You Get That Dream Home

4. AUB

best housing loan in the Philippines - AUB

The bank describes its home loan services as “personalized,” which means you can expect it to provide you sound advice regarding your plans. New home buyers will certainly benefit from this service. On top of that, AUB offers an interest rate cap on its home loan, which may protect you from the rising interest rates in the future.

AUB Preferred Home Loan Features

  • Minimum loan amount: PHP 1 million
  • Maximum loan amount: Up to 80% of the appraised property value
  • Interest rates:
    • 6% fixed for one year
    • 6.5% fixed for three years
    • 7% fixed for five years
  • Loan term: Up to 20 years
  • Easy repayment through auto-debit arrangement
  • Home Rate Protect that puts an interest rate cap of 9% on home loans

AUB Preferred Home Loan Requirements

  • Accomplished AUB Preferred Home Loan application form
  • Photocopy of
    • Two valid IDs each from the principal borrower and co-borrower
    • Marriage Contract or CENOMAR (whichever is applicable)
  • Collateral Requirements:
    • Photocopy of collateral title (TCT/CCT), lot plan/vicinity map/ subdivision plan, and updated Tax Declaration, tax receipts, and tax clearance
    • Statement of Account, Reservation Agreement, or Contract to Sell, for Accredited Developers
  • Photocopy of income documents for employed applicants:
    • Certificate of Employment
    • Payslips for the last three months
    • Latest ITR/BIR form 2316
  • Photocopy of income documents for self-employed applicants:
    • Business registration documents (SEC Registration/Articles of Incorporation/Bylaws/GIS or DTI Certificates/Mayor’s Permit/Business Permit
    • Bank statements for the last three months
    • Audited financial statements for the last two years
    • ITR for the last two years
    • List of major trade suppliers and customers with contact details (if applicable)

5. BPI Family Savings Bank

best housing loan in the Philippines - bpi

BPI Family Savings Bank offers one of the best housing loans in the Philippines with low down payment and low cash out. Just recently, BPI launched its newest payment feature, the Step Up Payplan, which allows borrowers to enjoy the lowest monthly payments starting on year one, with your monthly payments stepping up every year.

Whether it’s for acquisition, construction, or renovation, you can get home financing through BPI. It also has 24/7 customer assistance to help you explore your options and more than 800 BPI and BPI Family Savings Bank branches nationwide to assist you with your home loan needs.

BPI Family Housing Loan Features

  • Minimum loan amount: PHP 400,000
  • Maximum loan amount: 
    • 70% of the appraised value of the house and lot
    • 60% of the appraised value of the vacant lot or residential condominium
    • up to 80% of the appraised value of the house and lot (as long as the value doesn’t exceed PHP 5 million)
  • BPI Home Loan rates:
    • 6.25% fixed for one or two year/s
    • 6.75% fixed for three years
    • 7.25% fixed for four or five years
    • 9.50% fixed for 10 years
    • 10.50% fixed for 15 years
    • 12% fixed for 20 years
  • Loan terms:
    • Up to 25 years for house and lot
    • And up to 10 years for the following: vacant lot, residential condominium, business loan, refinancing, or multi-purpose loans
  • Quick processing (You can expect a reply within five working days after submission of complete requirements.)
  • Good for applicants with conservative earnings and buying patterns

Who Can Apply for a BPI Family Savings Bank Housing Loan?

  • Filipino citizen
  • Combined household income must be at least PHP 40,000
  • Must be of legal age but not more than 65 years old upon loan maturity
  • Foreigner married to a Filipino citizen (subject to documentary requirements)
  • Or foreigner with resident visa (subject to documentary requirements)

BPI Family Savings Bank Housing Loan Requirements

  • Accomplished BPI Family Savings Bank Housing Loan application form
  • Two valid government-issued IDs, each with photo and signature
  • If married, both spouses will sign the application form.
  • And if with co-borrower or co-mortgagor, a separate application form will need to be filled out.
  • If locally employed:
    • Certificate of Employment that shows monthly salary, position, and length of service
    • Latest ITR for the last two years
  • If working overseas:
    • Contract or Certificate of Employment authenticated by Philippine Consulate
    • Crew Contract and Exit Pass validated by the Philippine Overseas Employment Association (POEA) for seafarers
    • Proof of monthly remittances
    • Special Power of Attorney, notarized and authenticated
  • If self-employed:
    • Articles of Incorporation and bylaws with SEC registration certificate
    • Audited financial statements for the last two years
    • DTI registration
    • ITR with Statement of Assets and Liabilities for the last two years
    • List of trade references (minimum of three names, together with phone numbers of major suppliers or customers)
    • Bank statements for the past six months
    • Clinic address and schedule, if practicing doctors
    • Vouchers or bank statements for the last six months that show commission income (if applicable)
    • Rental or lease contract that indicates names of tenants and rental amounts. This should also include the complete address of the property being rented. Also, furnish a copy of the Title (TCT/CCT) if you’re generating income from the rental of properties.

Read more: BPI Housing Loan Application Guide for New Borrowers

6. China Bank

best housing loan in the Philippines - China Bank

Other than flexible repayment terms and many purposes of its home loan, China Bank makes a great pick for first-time home buyers. It allows you to have your interest rate fixed for one, five or ten years.

China Bank HomePlus Loan Features

  • Minimum loan amount: PHP 500,000
  • Interest rate: 5.75%
  • Loan terms:
    • Condo units – up to 10 years
    • Vacant lots – up to 15 years
    • House and lot – up to 25 years
  • Quick processing
  • Can be used for the purchase of different real estate properties, house construction, refinancing, and reimbursement
  • Low insurance premiums (as the bank uses its subsidiary, China Bank Insurance Brokers, Inc.)
  • Easy repayment via automatic debit arrangement
  • No hidden charges

Who Can Apply for a China Bank HomePlus Loan?

  • Filipinos of legal age but not more than 65 years old upon loan maturity
  • With a steady and verifiable source of income
  • Has a supervisory/managerial position at a reputable company for at least three years
  • Minimum gross monthly income:
    • PHP 50,000 (Metro Manila and Metro Cebu) and PHP 35,000 (other provinces)
  • No adverse records or credit findings, such as court cases, bouncing checks, unpaid loans, canceled credit cards, among others

China Bank HomePlus Loan Requirements

  • Accomplished China Bank HomePlus Loan application form
  • Valid IDs (TIN, Community Tax Certificate, passport, company ID, driver’s license)
  • Marriage contract (if married)
  • Bio-data/Resume
  • Deposit Statements of Accounts for the last six months
  • For employed applicants:
    • ITR
    • Certificate of Employment stating the length of service and monthly compensation package
  • For OFWs:
    • Certificate of Employment from overseas employer or POEA contract
    • Proof of remittance or payslips for the last six months
    • Consularized Special Power of Attorney
  • For self-employed applicants:
    • Audited financial statements and ITR for the last three years (BIR-stamped)
    • Certificate of Registration of Business Name
    • Business profile
    • Complete list of suppliers and clients, including contact person and number
    • Audited financial statements for the last three years
    • Bank statements
  • For partnerships / corporations:
    • SEC registration, Articles of Incorporation and bylaws
    • Audited financial statements for the last three years
    • Board or partnership resolutions or secretary’s certificate
    • Current General Information Sheet (GIS)
    • Company profile
    • Complete list of suppliers and clients, including contact person and number
  • Collateral Requirements
    • Owner’s duplicate copy of Transfer/Condominium Certificate of Title
    • Vicinity or location map and lot plan
    • Current tax declarations, tax receipts, and tax clearance

7. HSBC

best housing loan in the Philippines - HSBC

Wondering why HSBC offers one of the best housing loans in the Philippines? Homeowners who need more funds to purchase a property in an expensive area turn to global banks like HSBC because they offer home mortgage loans of up to PHP 50 million. 

HSBC Home Mortgage Loan Features

  • Minimum loan amount: PHP 700,000
  • Interest rate: 4.99% to 6.29%
  • Loan-to-value ratio (LTV): 60% to 80% maximum of the appraised value or selling price of the collateral or property, whichever is lower
  • Loan term:
    • 12 months up to 10 years
    • Or up to client age of 65 upon loan maturity, whichever is earlier
  • Acceptable property types:
    • House and lot
    • Condominium
    • Townhouse
    • Vacant lot (for a residential house)
    • Pre-sell residential properties of accredited developers
  • An HSBC Home Mortgage Loan can be used to: 
    • purchase owner-occupied residential property, which may include the borrower’s immediate family
    • refinance a residential mortgage with another financial institution
    • finance a construction, renovation, or addition to an existing residential property
    • reimburse a purchased property
  • Flexible repayment schemes
  • An array of interest-rate fixing options for new loans and repricing

Who Can Apply for an HSBC Home Mortgage Loan?

  • At least 21 years old at the time of application
  • Minimum gross monthly income: PHP 50,000
    • A co-borrower may be required if the monthly income requirement is not met. However, the co-borrower must adhere to the same credit and regulatory requirements as the primary borrower.

HSBC Home Mortgage Loans Requirements

  • One government-issued ID with photo
  • Billing statement addressed to the current and permanent resident (bank statement, credit card statement, utility billing statement, etc.)
  • TIN or foreign equivalent
  • Community Tax Certificate, passport, or any other documents allowed for notarization purposes
  • Marriage certificate, if married
  • Transfer Certificate of Title, if property is a house and lot
  • Condominium Certificate of Title, if property is a condominium
  • For employed individuals:
    • Latest ITR or BIR Form 2316/1700/1701, or BIR Form 2306 with sworn statement or foreign equivalent
    • Certificate of employment
    • Last three months’ pay slips
    • Employment contract or employer’s affidavit/sworn statement, if applicable
  • For self-employed: (latest)
    • Three years ITR and audited financial statements
    • Or one year ITR with AFS + latest three months bank statements
    • Business or Mayor’s Permit, SEC or DTI Registration Certificate,  Articles of Incorporation (if part-owner)
  • For shareholders: (latest)
    • Articles of Incorporation
    • Three months’ pay slips and Certificate of Employment (if employed and shareholder)
    • Three years audited financial statements or latest three months bank statements
    • Sworn Statement (if the only source of income is dividends)
    • BIR Form 1701 (if income is derived from both business and compensation)

8. Maybank

best housing loan in the Philippines - Maybank

Maybank’s MaxiHome Loan is recognized for offering unique financing options that depend on the borrower’s purpose. They have options for home acquisition, home construction, home equity, and home loan refinancing. Simply put. applying for a MaxiHome Loan lets you own a new address, may it be a house, a condominium, a townhouse, or a lot.

Maybank MaxiHome Home Loan Features

  • Minimum loan amount: PHP 500,000
  • Interest rate:
    • 6.00% for one-year fixing
    • 6.25% for three-year fixing
    • 7.50% for five-year fixing
  • Maximum loan term: 20 years
  • All properties are subject to appraisal. Appraisal fee is non-refundable.
  • Loan accounts are subject to Life/Mortgage Redemption Insurance (MRI) and Fire Insurance (FI) coverage.

Who Can Apply for a Maybank MaxiHome Home Loan?

  • Borrowers of legal age and not older than 65 years old when the loan matures
  • Employed for a minimum of two years
  • If self-employed, the business must be operational for at least three years and profitable in the last 2 years. 
  • For overseas workers – Should have a contract of employment for a minimum of two years.
    • Seafarers must be at least in an officer level position working for no less than two consecutive years.
    • A consularized Special Power of Attorney for overseas workers is also required.

Maybank MaxiHome Loan Requirements

  • A completely filled out Maybank loan application form
  • Government-issued IDs
  • Marriage certificate (if married) and CENOMAR (if single)
  • If employed:
    • Three months payslips
    • ITR
    • Certificate of Employment for both spouses
  • If self-employed:
    • Business registration or permits
    • Latest two years ITR and audited financial statements
    • Company profile or business background
    • List of major suppliers and customers with contact details (at least five)
    • Latest six months bank statements or passbook
  • If an overseas worker:
    • Employment certificate
    • History of employment or last crew contact
    • Special Power of Attorney using Maybank’s format
    • Latest ITR, six months bank statements, and proof of remittances

9. PNB

best housing loan in the Philippines - PNB

Need a home loan for various purposes―from the purchase of a new house to reconstructing your current home? Then check out PNB’s Housing Loan. 

PNB offers one of the most preferable home loan rates and terms in the Philippines, allowing you to own your dream home at a price you can afford.

PNB Housing Loan Features

  • Minimum loan amount: 
    • Lot purchases within and outside Metro Manila: PHP 500,000
    • House and lot, townhouse, or condominium purchase within Metro Manila: PHP 750,000
    • PHP 500,000 outside Metro Manila
  • Maximum loanable amount:
    • Lot property: up to 70% of the appraised value
    • House and lot, townhouse, or condominium: up to 80% of the appraised value 
  • Interest rate: 6.00% per annum (current rate = 1% + 5% fixed rate)
  • Maximum loan term: 
    • Lot purchase, home improvement, or redesign: Up to 10 years
    • Purchase of house and lot, townhouse, or condominium unit, and for house construction: Up to 20 years
  • Accredited home developers: Eton, Ayala, Filinvest, Robinsons, Arthaland, Megaworld, SMDC, DMCI, Vista Land, Shang Properties

Who Can Apply for a PNB Housing Loan?

  • Filipino citizen
  • At least 21 years of age, but not more than 65 years of age upon maturity of the loan
  • Employed or self-employed individuals

PNB Housing Loan Requirements

  • Fully accomplished PNB Housing Loan Application Form
  • Two valid government-issued IDs
  • Appraisal fee of PHP 3,500, which is non-refundable
  • Separate application form if there’s a co-maker, co-borrower, or attorney-in-fact
  • Fully accomplished Data Privacy Client Consent form
  • Deed of Absolute Sale or Contract to Sell (for the purchase of house and lot)
  • Master Deed of Declaration and Restrictions (for the purchase of a condominium unit)
  • If employed:
    • Photocopy of the latest ITR
    • Certificate of Employment indicating tenure and compensation
    • Alien Certificate of Registration and Official Receipt, if resident alien
  • If Overseas Filipino Worker:
    • Photocopy of Passport
    • Contract or Certificate of Employment (COE) approved by the POEA
    • If directly hired, COE authenticated by the Philippine Consulate 
    • Proof of inward remittance
    • Crew Contract and Exit Pass from POEA for seafarers
    • PNB-prescribed Special Power of Attorney
      • If SPA was executed and notarized abroad, it has to be authenticated by the Philippine Consulate.
  • If self-employed:
    • SSS/GSIS/ Driver’s License / PRC License
    • DTI or SEC Registration
    • Articles of Incorporation, bylaws with SEC Registration Certificate and latest General Information Sheet, if applicable
    • Financial statements or income statements for the last 3 years
    • Photocopy of ITR for the last 3 years
    • Bank statements for the last 6 months
    • List of Trade References with a combination of clients and suppliers
  • If practicing a profession
    • Clinic address/es, schedules, and contact numbers (for doctors)
    • Bank statements for the last six months

10. EastWest Bank

Last but not the least is the home loan from EastWest Bank, which is a subsidiary of Filinvest Development Corporation. EastWest Home Loan offers flexible payment terms, convenient application processes, and competitive terms and rates.

EastWest Bank Home Loan Features

  • Minimum loan amount: PHP 500,000
  • Maximum loanable amount: PHP 10 million, up to 80% of the property’s appraised value
  • Interest rate:
    • 5.750% for one year
    • 6.750% for 2 to 3 years
    • 7.250% for 4 to 5 years
    • 7.375% for 6 to 10 years
    • 8.250% for 11 to 15 years
    • 9.750% for 16 to 30 years
  • Maximum loan term: Up to 30 years
  • Eligible purposes for the loan: 
    • Home equity
    • Payment for existing loans
    • Home construction
    • Reimbursements for the purchase of a residential property bought within one year
    • Purchase of home, condo unit, residential apartment (with a maximum of four doors)
    • Lot acquisition

Who Can Apply for an EastWest Bank Home Loan?

  • Filipino citizens
  • Foreign citizens eligible to apply under CCT
  • At least 21 years of age but not more than 65 upon maturity of the loan
  • Employed individuals for at least one year
  • Self-employed or OFW for at least two years

EastWest Bank Home Loan Requirements

  • Duly accomplished EastWest Bank Home Loan application form
  • Two valid government-issued IDs
  • If locally employed:
    • Certificate of Employment with Compensation (COEC) indicating position and length of service
    • Latest ITR 
  • If self-employed:
    • Business registration from SEC or DTI
    • Audited financial statements for the last two years
    • Updated interim financial statement
    • Bank statements for the last six months with authorization to conduct bank verification
    • List of trade references, at least three suppliers and three customers, along with their phone numbers and names of contact persons
    • Articles of Incorporation and bylaws
  • If an Overseas Filipino Worker:
    • COEC with original six-month remittances,  original six-month payslips, or compensation
      • Crew contract validated by the Philippine Overseas Employment Administration (for seafarers)

Note: For the complete list of requirements, visit your preferred bank’s website or contact its customer service department.

What to Consider When Choosing the Best Housing Loan in the Philippines

Buying a house, condo unit, or any type of property can cost you more if you don’t take a closer look at your options. Before you decide which bank to get funds from, here are some things you need to consider.

1. Know Why You Need a Housing Loan

best housing loan in the Philippines - Know Why You Need a Housing Loan

One of the most common mistakes people make when choosing a housing loan in the Philippines is that they don’t know what they’ll use it for. This applies to both secured and unsecured loans as well.

When borrowers are not sure about the purpose of the loan, they might end up making a decision that breaks the bank. As you look for the best housing loan in the Philippines, ask yourself why you need it in the first place.

Is it to purchase a house and lot in the province? Or is it to acquire a condominium unit in Metro Manila? Perhaps it’s to purchase a lot as an investment?

Knowing your purpose for taking out a housing loan will go a long way in helping you find the best bank that meets your needs.

2. Determine Your Budget

Now that you’ve identified the property you want to acquire, take a look at your finances. How much are you able to shell out as a down payment? Are you earning enough to pay for the monthly amortization? 

On top of the monthly payment, housing loans also come with fees, such as transfer taxes, application fees, and appraisal fees. Make sure that you saved enough so you have a financial cushion for emergency situations. Also, keep an eye on housing loan rates―they fluctuate without prior notice.

3. Compare Your Options

Even if you already have a bank in mind, compare each housing loan option and see which offers the terms and rates best suited for you. We’ve gone ahead and summarized the terms, rates, and loan offerings for you. Refer to this table below to quickly check which banks offer the lowest housing loan rates in the Philippines.

BankLoan TermInterest RateLoan Offering
RCBCUp to 20 years6.38% to 10.5%

Minimum loan amount: PHP 300,000

UnionBankUp to 20 years6% to 11%
  • Minimum loan amount: PHP 500,000
    Up to 90% of the property’s appraised value
Security BankUp to 20 years
  • 6.25% fixed for 1 to 3 years
  • 6.75% fixed for 5 years
  • 7.75% fixed for 10 years
  • Minimum loan amount: PHP 1 million
    Up PHP 10 million, or 80% of the property’s appraised value
AUBUp to 20 years
  • 6% fixed for 1 year
  • 6.5% fixed for 3 years
  • 7% fixed for 5 years
  • Minimum loan amount: PHP 1 million
  • Up to 80% of the property’s appraised value
BPI Family Savings Bank
  • Up to 25 years for house and lot
  • Up to 10 years for vacant lot, condo, business loan, refinancing, or multi-purpose loans
  • 6.25% fixed for 1 or 2 years
  • 6.75% fixed for 3 years
  • 7.25% fixed for 4 or 5 years
  • 9.50% fixed for 10 years
  • 10.50% fixed for 15 years
  • 12% fixed for 20 years
Minimum loan amount: PHP 400,000
Maximum loan amount:
  • 70% of the appraised value of house and lot
  • 60% of the appraised value of a vacant lot or residential condominium
  • Up to 80% of the appraised value of house and lot (as long as the value doesn’t exceed PHP 5 million)
China Bank
  • Up to 10 years for condominium units
  • Up to 15 years for vacant lots
  • Up to 25 years for a house and lot
5.75%

Minimum  loan amount: PHP 500,000

HSBC12 months up to 10 years, or up to client age of 65 upon loan maturity, whichever is earlier4.99% to 6.29%
  • Minimum loan amount: PHP 700,000
  • Up to 60% to 80% maximum of the appraised value or selling price of collateral or property, whichever is lower
Maybank PhilippinesUp to 20 years6.00% to 7.50%

Minimum loan amount: PHP 500,000

PNB
  • Up to ten years for lot purchase, home improvement, or redesigning
  • Up to 20 years for purchase of house and lot, townhouse, condominium unit, and house construction
6.00%Minimum loan amount:
  • PHP 500,000 for lot purchase within and outside Metro Manila
  • PHP 750,000 for purchase of house and lot, townhouse, or condominium within Metro Manila
  • PHP 500,000 for purchase of house and lot, townhouse, or condominium outside Metro Manila
    Maximum loan amount:
    • Up to 70% of the appraised value of the property for lot
    • Up to 80% of the appraised value of the property for house and lot, townhouse, or condominium
    EastWest BankUp to 30 years
    • 5.750% for 1 year
    • 6.750% for 2 to 3 years
    • 7.250% for 4 to 5 years
    • 7.375% 6 to 10 years
    • 8.250% for 11 to 15 years
    • 9.750% for 16 to 30 years

    Minimum loan amount: PHP 500,000

    Maximum loan amount:
    • PHP 10 million
      Up to 80% of the property’s appraised value

    4. Talk to Experts

    Note that loan terms and rates vary depending on your qualifications and the documents you provided. It’s always best to talk to banking experts to know how you stand and what your best options are.

    Final Thoughts

    There are hundreds of banks out there, but not all of them offer the best housing loan in the Philippines. The process of finding the best bank for a home loan in the Philippines may even feel like looking for a needle in a haystack. But it shouldn’t be a problem, especially now that you have a reference to guide you.

    Also, you don’t have to limit yourself to these options. Banks and other financial institutions also offer personal loans that can be used to finance smaller housing needs. 

    For example, the Citi Personal Loan is a great alternative to a housing loan. You may get up to PHP 2,000,000 in personal loan, which is ideal if you’re looking at purchasing a small land, refinancing a home, or improving your property.

    Citi Personal Loan

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