Housing Loan Requirements in the Philippines

Here are the most commonly housing loan requirements in the Philippines. These requirements may vary, depending on the bank, government, or any financial institution you would like to avail your house loan, but this is enough to serve as a guide and help you get started planning loan for YOUR Dream House.


Housing Loan Requirements in the Philippines

Required Documents for Lot Only

  • Birth Certificate or Marriage Contract
  • 2 Valid IDs
  • Community Tax Certificate (Cedula) / Photocopy of Passport (all pages w/ entries)
  • 2 pcs. 2″ x 2″ id pictures (husband and wife)
  • Proof of Billing Address (Utility bills)
  • Post-dated cheques

Required Documents for Spot Cash

  • Birth Certificate or Marriage Contract
  • 2 Valid IDs
  • Community Tax Certificate (Cedula) / Photocopy of Passport (all pages w/ entries)
  • 2 pcs. 2″ x 2″ id pictures (husband and wife)

Required Documents for Deferred Cash / Installment (2 years to pay)

  • Birth Certificate or Marriage Contract
  • 2 Valid IDs
  • Community Tax Certificate (Cedula) / Photocopy of Passport (all pages w/ entries)
  • 2 pcs. 2″ x 2″ id pictures (husband and wife)
  • Proof of Billing Address (Utility bills)
  • Post-dated cheques

Required Documents if with Financing

Working outside the Philippines (OFWs)

  • Original Certificate of Employment and Compensation w/ Consular Seal
  • Photocopy of Contract of Employment
  • Photocopy of Passport (all pages with entries)
  • Proof of Remittances (latest 6 months)
  • Pay Slips (latest 3 months)
  • 2 Valid IDs
  • Bank Statements (latest 6 months)
  • Birth Certificate or Marriage Contract
  • Community Tax Certificate (Cedula)
  • 2 pcs. 2″ x 2″ id pictures (husband and wife)
  • Proof of Billing Address (Utility bills)
  • Post-dated cheques

Locally Employed

  • Photocopy of Income Tax Return (ITR)
  • Original and Notarized Certificate of Employment and Compensation (COEC)
  • Pay Slips (latest 3 months)
  • 2 Valid IDs
  • Bank Statements (latest 6 months)
  • Birth Certificate or Marriage Contract
  • Community Tax Certificate (Cedula)
  • 2 pcs. 2″ x 2″ id pictures (husband and wife)
  • Proof of Billing Address (Utility bills)
  • Post-dated cheques

Self-Employed (Business)

  • Photocopy of Business Registration (DTI/SEC)
  • Mayor’s Permit
  • ITR for the last 2 years
  • Original Audited Financial Statements for the last 2 years
  • Franchise/OR/CR (for taxi, jeepney, bus operators)
  • PTR (For practicing professionals)
  • Company Profile (if applicable)
  • Picture of Business Establishment
  • Bank Statements (latest 6 months)
  • Birth Certificate or Marriage Contract
  • 2 Valid IDs
  • Community Tax Certificate (Cedula)
  • 2 pcs. 2″ x 2″ id pictures (husband and wife)
  • Proof of Billing Address (Utility bills)
  • Post-dated cheques

Note: Other documents may be required on a case to case basis.

Financing

A) Bank Financing

  • 20% to 30% down payment 12 months to pay without interest, 70% to 80% bank financing. Depending on the agreement with the seller and the bank.

B) Seller Financing or Rent-to-Own

  • The whole amount (price) is payable in 24 months to 15 years, depending on the agreement with the seller.

C) Spot Cash

  • Buyers who pay in spot cash the whole amount can avail big discount. Discount to be computed upon reservation.

D) Pag-Ibig Financing

  • 20% to 30% down payment 12 months to pay without interest, 70% to 80% bank financing. Depending on the agreement with the seller and until the equity required for the property has been met.

E) Assume Balance

  • Take over other people’s loan. Pay the amount required by the seller and avail the bank or Pag-ibig financing.


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DISCLAIMER: The following information are meant to be used as guide only. However, preparing these documents while thinking of purchasing a property will speed up the process, and can help you mentally prepare in taking your next step into owning YOUR Dream House.

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