EastWest Bank Housing Loan Requirements 2026: Complete Checklist

EastWest Bank accepts housing loan applications from a broad range of borrowers. To be eligible, you generally need to meet the following criteria:

• Age: At least 21 years old at the time of application, and no older than 65 years old at loan maturity.
• Citizenship: Filipino citizens or foreign nationals with a Filipino spouse may apply.
• Employment/Income Type: EastWest Bank accommodates Private Employees, Government Employees, BPO Workers, OFWs and Seafarers, Self-Employed Individuals, and Licensed Professionals.
• Credit Standing: You must have a good credit history with no major derogatory records on file with the Credit Information Corporation (CIC) or with other lending institutions.

If you are currently paying a home loan with another bank, you may also qualify to refinance through EastWest Bank — potentially lowering your rate to as low as 5.99% p.a. on a 1-year fixed term.

EastWest Bank requires a minimum monthly income of 40,000 pesos. This is a relatively accessible threshold compared to some other major banks, making it a practical option for mid-income Filipino families.

For salaried employees, this income is typically verified through payslips and a Certificate of Employment (COE). For self-employed borrowers or business owners, income is evaluated using Income Tax Returns (ITR), audited financial statements, and bank statements. OFWs are assessed based on their employment contract and remittance records.

It's important to note that your income determines how much you can borrow. Under the debt-to-income (DTI) rule, your total monthly loan obligations — including the new housing loan — must not exceed 40% of your gross monthly income. For example, if you earn 60,000 pesos a month, your total monthly debt payments (including the housing loan) should not exceed 24,000 pesos.

The documents you need to submit will vary depending on your employment type, but here is the complete standard checklist:

All Applicants (Basic Requirements):

• Duly accomplished EastWest Bank housing loan application form
• Two valid government-issued IDs (e.g., passport, SSS, GSIS, PRC ID, driver's license)
• Marriage certificate (if applicable) or birth certificates of dependents
• Tax Identification Number (TIN)

Salaried / Private / Government Employees:

• Latest one-month payslip (or last three months for variable income earners)
• Certificate of Employment with compensation (dated within 3 months)
• Latest ITR (BIR Form 2316) or BIR Form 2307

Self-Employed / Business Owners:

• Business Registration (DTI or SEC)
• Latest 2 years ITR (BIR Form 1701) with audited financial statements
• 6 months bank statements
• List of trade references or business profile

OFWs / Seafarers:

• Employment contract or POEA-processed contract
• Proof of remittances (last 3-6 months)
• 6 months bank statements
• Special Power of Attorney (SPA) if applying through a representative in the Philippines

Property / Collateral Documents:

• Photocopy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
• Lot plan / vicinity map certified by a licensed geodetic engineer
• Tax declaration and latest real property tax receipt
• Contract to Sell or Deed of Sale (for purchase transactions)
• Floor plan / building plan (for construction or renovation loans)

For Refinancing:

• Existing loan statement of account
• Latest amortization payment receipts (last 12 months recommended)

Submitting a complete set of documents from day one is one of the most effective ways to speed up your approval. Nook's team will review your documents before submission to ensure nothing is missing.

EastWest Bank offers flexible loan parameters to accommodate different property types and borrower needs:

• Minimum Loan Amount: Typically 500,000 pesos, though this may vary by branch or loan purpose.
• Maximum Loan Amount: Generally up to 80% of the appraised value of the property (Loan-to-Value ratio of 80%).
• Loan Terms: Typically range from 5 to 20 years, depending on your age at maturity and the loan purpose.

For reference, here is how monthly amortizations look at EastWest Bank's 1-year fixed rate of 5.99% p.a. for common loan amounts on a 20-year term:

• Loan of 2,000,000 pesos → approximately 14,322 pesos/month
• Loan of 3,500,000 pesos → approximately 25,063 pesos/month
• Loan of 5,000,000 pesos → approximately 35,804 pesos/month

Note: These are illustrative estimates only. Actual amortization will depend on your approved rate, term, and any applicable fees.

EastWest Bank offers several fixed-rate repricing periods so borrowers can choose the level of rate stability that suits their financial situation:

• 1-Year Fixed: 5.99% p.a.
• 3-Year Fixed: 6.25% p.a.
• 5-Year Fixed: 6.49% p.a.
• 7-Year Fixed: 7.00% p.a.
• Home Equity: 6.25% p.a.

The 1-year fixed rate of 5.99% p.a. is the lowest available through Nook and is ideal for borrowers who are comfortable with annual repricing and want to maximize short-term savings. If you prefer greater predictability, the 3-year or 5-year fixed options offer a good balance between rate stability and competitive pricing.

For context, many Filipino homeowners are currently paying between 7% and 10% on existing home loans — meaning refinancing to EastWest Bank could generate significant monthly savings. If you're comparing options, you may also want to read our comparison of EastWest Bank vs Chinabank home loan rates to see how the rates stack up.

Interest rates are subject to change. Please verify current rates with EastWest Bank or through Nook before applying.

EastWest Bank accepts a wide range of property types and loan purposes, making it one of the more versatile housing loan providers in the Philippines. Eligible loan purposes include:

• Ready For Occupancy (RFO): Fully built houses and lots or condominium units that can be moved into immediately.
• Pre-Selling: Properties purchased from a developer before construction is complete.
• New Construction: Building a home on a lot you already own.
• Reselling: Purchasing a property from a private seller (secondary market).
• Refinancing: Transferring your existing home loan from another bank to EastWest Bank to get a lower rate.
• Home Equity: Borrowing against the equity of a property you already own, for any purpose such as business capital, tuition, or home improvement.
• Renovation: Funding improvements or extensions to an existing property.
• Foreclosed Properties: Purchasing a property from a bank's or institution's REO (Real Estate Owned) portfolio.

Properties must have a clean title (TCT or CCT) and must be located in areas where EastWest Bank has appraisal coverage. Properties in flood-prone or hazard-prone zones may be subject to stricter evaluation or may not qualify.

EastWest Bank's typical approval timeline is 19 days from submission of a complete set of documents. This is a competitive turnaround time in the Philippine banking landscape and reflects EastWest Bank's investment in streamlining its mortgage processing.

The 19-day timeline generally covers:

• Initial document review and credit assessment (3-5 days)
• Property appraisal (3-7 days depending on location)
• Credit committee evaluation and approval (5-7 days)
• Loan offer letter issuance

However, the clock only starts once your application is complete. Incomplete submissions — missing documents, outdated certificates, or unsigned forms — are the most common cause of delays. Applying through Nook means your documents are reviewed by our team before they reach the bank, significantly reducing the risk of back-and-forth.

EastWest Bank applies a maximum Debt-to-Income (DTI) ratio of 40%. This means that your total monthly debt obligations — including your proposed housing loan amortization plus all other existing loans (car loans, personal loans, credit card minimums, etc.) — must not exceed 40% of your gross monthly income.

Example: If your gross monthly income is 80,000 pesos, your total monthly debt payments must not exceed 32,000 pesos. If you already have a car loan amortization of 8,000 pesos per month, your maximum allowable housing loan payment would be 24,000 pesos.

This is an important calculation to do before applying, as it directly determines the maximum loan amount you qualify for. If your DTI is currently high due to other debts, consider paying down or consolidating those obligations before submitting your housing loan application to improve your borrowing capacity.

If you're refinancing and trying to determine whether EastWest Bank or another lender gives you more flexibility on DTI and loan sizing, our EastWest Bank vs Landbank housing loan rates comparison offers a helpful side-by-side view.

Yes — EastWest Bank explicitly accommodates the following employment types under its housing loan program:

• OFWs (Overseas Filipino Workers): Eligible with a valid employment contract and proof of remittance history. An SPA (Special Power of Attorney) may be required if the borrower is currently abroad and cannot appear in person for signing.
• Seafarers: Treated similarly to OFWs. POEA-processed contracts and allotment records serve as income documentation.
• Self-Employed Individuals: Business owners, freelancers, and entrepreneurs are eligible provided they can submit at least 2 years of ITR and audited financial statements demonstrating stable income.
• Licensed Professionals: Doctors, lawyers, architects, and other PRC-licensed professionals may use their professional income as the basis for qualification, supplemented by ITR and bank statements.
• BPO Workers: Call center and IT-BPO employees are specifically recognized as a qualified employment type, which is important given the irregular schedules and contractual arrangements common in the industry.

For OFW and self-employed borrowers in particular, working with Nook as your broker can be valuable — our team helps you package your income documentation in the format that gives your application the best chance of approval.

Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. Here's how we add value to your EastWest Bank housing loan application:

• Document Review: We check your requirements before submission to ensure completeness, reducing delays caused by missing or outdated documents.
• Rate Access: As an EastWest Bank partner, Nook gives you direct access to their current rates — including the 5.99% p.a. 1-year fixed rate — without you needing to visit a branch or negotiate independently.
• Multi-Bank Comparison: Nook doesn't just work with EastWest Bank. We can compare offers across multiple partner banks so you can be confident you're getting the most competitive deal available to you.
• Application Support: Our team guides you through each step of the process, from pre-qualification to final approval, especially helpful for first-time borrowers or OFWs applying from abroad.
• No Broker Fee: Unlike traditional mortgage brokers, Nook charges you nothing. We are compensated directly by the bank upon successful loan release.

Whether you're a first-time homebuyer, refinancing from another bank, or exploring a home equity loan, Nook makes the process faster, simpler, and more transparent. Start your free application at nook.com.ph today.