Condo Loan Philippines 2026: Your Complete Financing Guide
Buying a condominium unit in the Philippines is one of the most significant financial decisions you will make. Whether you are eyeing a studio in Makati, a two-bedroom in BGC, or a mid-rise unit in Cebu or Davao, understanding how condo loans work — and how to get the best possible rate — can save you hundreds of thousands of pesos over the life of your loan.
This guide covers everything: which banks offer condo loans, how interest rates are structured, how much you can borrow, and the step-by-step application process. If you already own a condo and are paying a rate above 7%, there is also a section on refinancing that could be worth reading carefully.
What Is a Condo Loan?
A condo loan (also called a condominium housing loan) is a real property loan secured by a condominium unit. It works similarly to a standard home loan, but with a few important differences specific to the nature of condo ownership in the Philippines:
- You own the unit, not the land. Filipino law (Republic Act 4726, the Condominium Act) separates unit ownership from land ownership. Banks lend against the unit's appraised value, not land title.
- Foreign ownership limits apply. Foreign nationals can own up to 40% of units in a condominium project, which affects how some lenders assess projects.
- Association dues are a factor. Banks may factor monthly association dues into your debt obligations when computing your debt-to-income ratio.
Banks That Offer Condo Loans in the Philippines (2026)
Almost every major Philippine bank offers condominium financing. Here is a breakdown of the primary lenders and what they typically offer:
BDO Unibank
BDO is one of the largest home loan providers in the country. It accepts both pre-selling and ready-for-occupancy (RFO) units. Fixed-rate periods range from 1 to 20 years, with rates starting around 6.50% to 7.50% for shorter fixing periods. BDO also accepts OFW applicants with a co-borrower.
BPI Family Savings Bank / BPI
BPI offers competitive condo loan packages with 1-, 2-, 3-, 5-, and 10-year fixed-rate options. Their rates for a 1-year fix typically start around 6.75%, stepping up for longer fixed periods. BPI is known for relatively fast processing and has a strong presence for BGC, Ortigas, and Makati developments.
Metrobank
Metrobank's home loan product covers condominium units with loan amounts starting at 500,000. Fixed periods of 1, 2, 3, 5, and 10 years are available. Metrobank is often preferred by buyers of mid-to-high-end developments due to its strong relationships with major developers like Federal Land and Rockwell.
Security Bank
Security Bank offers some of the more flexible condo loan structures in the market, including options for self-employed borrowers. Their rates are competitive, particularly for 3- to 5-year fixed periods. They are also known for accepting a wider range of income documentation.
RCBC Savings Bank
RCBC offers condo loans with a minimum amount of 300,000 and terms up to 20 years. Their rates are competitive for shorter fixing periods and they actively partner with major developers.
Pag-IBIG Fund (HDMF)
Pag-IBIG is a government-backed option available to active members. The maximum loan amount is 6,000,000 (as of 2025 guidelines), with interest rates starting at 5.375% for a 1-year fixed period — among the lowest available. Pag-IBIG is ideal for mid-market buyers, though processing can be slower than commercial banks. You must be an active contributor with at least 24 monthly contributions.
Other Lenders
PNB, UnionBank, Chinabank, PSBank, EastWest Bank, and Robinsons Bank all offer condo loan products. Rates and terms vary. It is worth shopping across at least three to five lenders before committing, as the difference of even 0.50 percentage points on a 3,000,000 loan over 20 years can mean over 200,000 in additional interest paid.
Condo Loan Interest Rates in the Philippines (2026)
Philippine condo loan rates are typically structured as fixed-then-repriced. This means your rate is fixed for a chosen period (1, 2, 3, 5, or 10 years), after which it reverts to the bank's prevailing rate at repricing — which is usually significantly higher.
Here is a general rate range across major lenders as of early 2026:
- 1-year fixed: 6.25% – 7.50% p.a.
- 3-year fixed: 7.00% – 8.25% p.a.
- 5-year fixed: 7.50% – 8.75% p.a.
- 10-year fixed: 8.50% – 10.00% p.a.
- Pag-IBIG (1-year fix): from 5.375% p.a.
The key risk most borrowers underestimate is the repricing cliff. A borrower who took a 5-year fix at 7.00% in 2020 may now be repriced to 10.00% or higher — a dramatic jump in monthly payments. This is exactly where refinancing becomes powerful.
How Much Can You Borrow? LTV Ratios Explained
The Loan-to-Value (LTV) ratio is the maximum percentage of the property's appraised value that a bank will lend. For condominium units in the Philippines, Bangko Sentral ng Pilipinas (BSP) regulations cap LTV at 80% for residential condominium units (as opposed to 90% for traditional house-and-lot properties).
In practice, this means:
- If your condo unit is appraised at 4,000,000, the maximum loan is 3,200,000 (80% LTV).
- You must fund the remaining 800,000 (20%) from your own equity or savings.
- Some lenders apply a more conservative internal LTV of 70% depending on the project, developer, or location.
For pre-selling units, some banks require a higher equity contribution upfront, particularly if the development is not yet BSP-accredited.
Loan Terms and Monthly Payment Examples
Condo loans in the Philippines typically have maximum terms of 20 to 25 years, depending on the lender. Pag-IBIG allows up to 30 years for qualified borrowers.
Here are sample monthly amortizations to help you plan:
- Loan: 2,000,000 | Rate: 7.00% | Term: 20 years → approximately 15,506 per month
- Loan: 3,500,000 | Rate: 7.50% | Term: 20 years → approximately 28,117 per month
- Loan: 5,000,000 | Rate: 8.00% | Term: 25 years → approximately 38,591 per month
- Loan: 2,000,000 | Rate: 5.99% (via Nook refinancing) | Term: 20 years → approximately 14,288 per month
Notice the difference on a 2,000,000 loan between 7.00% and 5.99%: that is roughly 1,218 per month, or over 292,000 in savings over a 20-year term — for the exact same loan amount.
Eligibility Requirements for a Condo Loan
While requirements vary by lender, most Philippine banks require the following from condo loan applicants:
- Age: At least 21 years old at time of application; loan must mature before age 65 (some banks allow up to 70 for co-borrowers)
- Citizenship: Filipino citizen, or a foreign national married to a Filipino (subject to additional requirements)
- Income: Minimum gross monthly income typically between 30,000 and 50,000, depending on the loan amount and lender
- Employment: Employed for at least 2 years (locally or abroad); self-employed businesses must be operating for at least 2–3 years
- Credit history: No active defaults or adverse credit records (some lenders are more flexible — see our guide on refinancing with poor credit history for context on how credit is assessed)
Documents You Will Need
Prepare these documents before applying to speed up processing:
- Completed application form
- Valid government-issued IDs (at least 2)
- Proof of income: payslips (last 3 months), Certificate of Employment, BIR Form 2316 or ITR
- For self-employed: DTI or SEC registration, audited financial statements (last 2 years), business permits
- For OFWs: contract, POEA documents, remittance records
- Condominium documents: contract to sell or reservation agreement (for pre-selling); CCT or title documents (for RFO or secondary market)
- Developer's project accreditation documents (if pre-selling)
Pre-Selling vs. Ready-for-Occupancy Condo Loans
The stage of your condo purchase significantly affects your financing options:
Pre-Selling Units
Banks typically do not release the full loan amount at turnover for pre-selling units. Instead, many buyers pay the developer in tranches during construction (using their own funds or a developer in-house scheme), then take out a bank loan at turnover. Some banks offer construction-linked takeout loans. Processing can begin 6–12 months before expected completion.
Ready-for-Occupancy (RFO) Units
RFO units are the most straightforward to finance. The unit already has a Condominium Certificate of Title (CCT), which serves as collateral. Banks can process and release the loan within 30–60 business days in most cases.
Secondary Market (Resale)
Buying a resale condo involves a transfer of title. Banks will require a clean title, updated tax declarations, and a satisfactory appraisal. Processing timelines can be longer due to title transfer requirements.
Already Have a Condo Loan? Consider Refinancing
If you took out your condo loan two or more years ago — especially if you're coming up to a repricing date — there is a good chance you are paying more than you need to. The best refinance rate currently available through Nook is 5.99% p.a.
Consider a borrower with a 3,000,000 outstanding balance and 18 years remaining, currently paying 9.50% after repricing. Their monthly payment is approximately 28,056. At 5.99%, that same loan would cost approximately 21,476 per month — a saving of about 6,580 per month, or nearly 79,000 per year.
Refinancing a condo is slightly more complex than refinancing a house-and-lot because the collateral is a CCT rather than a TCT, and some lenders have specific policies on condos. If you are based in BGC specifically, our step-by-step guide to refinancing a BGC condo unit covers the process in detail. Nook works across all major metro areas and most major condo developments nationwide.
Nook is 100% free to use. We compare offers from multiple banks and help you choose the one that saves you the most — with no broker fee charged to you.
Tips for Getting the Best Condo Loan Rate
- Compare at least 3 lenders. Rates differ more than most people expect. A 0.75% difference on a 4,000,000 loan over 20 years is over 400,000 in total interest.
- Negotiate the rate. Banks often have discretion on pricing, especially for borrowers with strong credit profiles and stable employment.
- Choose your fixing period wisely. A shorter fix gives a lower initial rate but exposes you to repricing risk sooner. A longer fix gives certainty but at a higher rate. Consider your plans: will you sell, refinance, or pay off the loan before repricing?
- Check for promotional rates. Banks periodically offer below-market teaser rates for specific developments or credit card holders. Ask about these.
- Maintain a strong credit profile. Pay existing loans and credit cards on time. A clean credit record is one of the most powerful tools for getting a lower rate.
- Get pre-approved before shopping. A bank pre-approval letter strengthens your negotiating position with developers and sellers.