Home Loan Philippines Requirements: Documents Every Bank Needs

Regardless of which bank you apply to, you'll need to prepare a standard set of documents that falls into three categories: personal identification, proof of income, and property documents.

Personal Identification:

• Two valid government-issued IDs (e.g., passport, driver's license, SSS/GSIS ID, PhilHealth ID, TIN ID, Voter's ID, PRC ID, Postal ID)
• Completed and signed loan application form (provided by the bank)
• Recent passport-sized photos (usually 1x1 or 2x2)
• Marriage certificate (if applicable) or birth certificates of dependents

Proof of Income:

• For employed applicants: Certificate of Employment (COE) with salary, latest 3 months' payslips, and ITR (BIR Form 2316 or 1700) for the last 1-2 years
• For self-employed applicants: ITR (BIR Form 1701) for the last 2 years, audited financial statements, and business registration documents
• Latest 3-6 months' bank statements (savings or checking account)

Property Documents:

• Certified True Copy of the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
• Latest Tax Declaration of the property (land and improvement, if applicable)
• Vicinity map or location plan
• For new purchases: Contract to Sell (CTS) or Reservation Agreement from the developer or seller
• Updated real property tax receipts (Amilyar)

Having all of these ready before you approach any bank will significantly speed up your application timeline.

BDO (Banco de Oro) is one of the most popular home loan lenders in the Philippines. Their requirements largely follow the standard checklist, with a few specifics to note.

BDO Home Loan Requirements:

• Duly accomplished BDO Home Loan Application Form
• Two valid government-issued photo IDs
• If employed: COE with compensation, latest 1-month payslip, and BIR Form 2316 for the last 2 years
• If self-employed: ITR with BIR stamp for last 2 years, audited financial statements, and DTI or SEC registration
• Latest 3 months' bank statements (BDO account preferred but not required)
• Certified True Copy of TCT/CCT (not more than 3 months old from the Registry of Deeds)
• Updated Tax Declaration with tax clearance
• Floor plan and vicinity map
• For purchase: Contract to Sell or Deed of Absolute Sale
• For refinancing: Statement of Account from your current bank and existing loan documents

BDO also requires that the property be within Metro Manila or key provincial cities. Loan amounts typically start at 500,000 and can go up to 80% of the appraised property value. BDO will conduct its own appraisal of the property at the borrower's expense.

BPI (Bank of the Philippine Islands) is known for competitive home loan rates and a relatively streamlined application process. Here's what BPI typically requires:

BPI Home Loan Requirements:

• Completed BPI Family Housing Loan Application Form
• Two valid photo-bearing government IDs
• If employed: COE (original, on company letterhead, indicating tenure, position, and monthly salary), latest 3 months' payslips, and ITR (BIR Form 2316) for the most recent year
• If self-employed or business owner: ITR for the last 2 years (BIR-stamped), audited financial statements for the last 2 years, and DTI/SEC/CDA registration documents
• Latest 3 months' bank statements
• Certified True Copy of TCT/CCT from the Registry of Deeds
• Updated Tax Declaration
• Location/vicinity map of the property
• Latest real property tax receipt
• For purchase transactions: Contract to Sell or executed Deed of Sale

BPI is particularly thorough about income verification. If you are an OFW, you'll also need a copy of your employment contract, proof of remittance for the last 3-6 months, and a Special Power of Attorney (SPA) authorizing a Philippine-based representative to transact on your behalf.

Metrobank offers home loans for property purchases, construction, renovation, and refinancing. Their document requirements are thorough but competitive given the rates they offer.

Metrobank Home Loan Requirements:

• Accomplished Metrobank Housing Loan Application Form
• Two valid government-issued IDs with photo and signature
• If locally employed: COE with monthly salary, 1 month's latest payslip, ITR (BIR Form 2316) for the last 2 years
• If self-employed: Last 2 years' BIR-filed ITR with financial statements, DTI/SEC registration, list of trade references
• Bank statements for the last 3 months
• Certified True Copy of the TCT/CCT (issued by the Registry of Deeds)
• Updated Tax Declaration (land and building, if applicable)
• Vicinity map showing location of the property
• Updated real property tax receipts
• For purchase: Contract to Sell or Reservation Agreement
• For refinancing: Existing loan statement of account and original loan documents if available

Metrobank typically processes applications within 5-7 banking days after complete document submission. They lend up to 80% of the property's appraised value and offer loan terms of up to 25 years. Note that Metrobank also requires the property to be insured (fire insurance at minimum) as a condition of loan release.

Self-employed Filipinos face higher documentation requirements because banks need to verify income stability without the straightforward proof that payslips provide for salaried workers. Here's a comprehensive list of what to prepare:

Business Registration Documents:

• DTI Certificate of Registration (for sole proprietors) or SEC Certificate of Incorporation (for corporations/partnerships) or CDA Registration (for cooperatives)
• Mayor's Permit or Business Permit (current year)
• BIR Certificate of Registration (Form 2303)

Financial Documents:

• Income Tax Return (BIR Form 1701 for individuals or 1702 for corporations) for the last 2 years, with BIR stamp/e-filing confirmation
• Audited Financial Statements (Balance Sheet, Income Statement) for the last 2 years, signed by a CPA accredited by the PRC
• Latest 6 months' bank statements (both personal and business accounts)
• List of major clients or contracts (some banks require this to validate income sources)

Pro Tips for Self-Employed Applicants:

• Make sure your ITR has been properly filed with the BIR — banks will verify this
• Some banks apply a 20-30% "haircut" to declared income for self-employed applicants, so your qualifying income may be lower than what you actually earn
• Having a strong bank account history (consistent deposits, no returned checks) significantly strengthens your application
• If your income appears low on paper due to business deductions, some banks allow the use of gross receipts as a basis, so ask your relationship manager

The good news is that Nook works with multiple banks and knows which lenders are more favorable to self-employed borrowers — making it easier to match you with the right bank for your profile.

Yes — while there is significant overlap, refinancing has some unique document requirements compared to a purchase loan. Here's how they differ:

Documents the same for both:

• Valid IDs, completed application form
• Proof of income (payslips, COE, ITR, bank statements)
• Certified True Copy of TCT/CCT from the Registry of Deeds
• Updated Tax Declaration and real property tax receipts

Documents unique to refinancing:

• Statement of Account (SOA) from your current lender, showing the outstanding balance, monthly amortization, and loan history
• Amortization schedule from your current bank
• Original or certified copy of the Mortgage documents from your current bank (some banks provide this, others don't until the loan is fully released)
• Proof that your existing loan is current (no missed payments, or an explanation if there were)
• Cancellation of Mortgage document (if the old mortgage has been fully paid)

Documents unique to a purchase:

• Contract to Sell, Reservation Agreement, or Deed of Absolute Sale
• Developer's License to Sell (for new developments)
• Vicinity map and floor plan from the developer or seller

Refinancing can be an excellent financial move, especially if you're currently with Pag-IBIG and want to move to a private bank for lower rates. You can learn more about that process in our guide on Pag-IBIG home loan refinancing to private banks.

Pag-IBIG (Home Development Mutual Fund / HDMF) is a government-backed housing loan program available to all active Pag-IBIG members. It's one of the most accessible home loan options in the Philippines, especially for lower- to middle-income earners.

Eligibility Requirements:

• Active Pag-IBIG member with at least 24 monthly contributions
• Not more than 65 years old at loan application, and not more than 70 years old at loan maturity
• No outstanding Pag-IBIG multi-purpose or calamity loan in arrears
• No existing Pag-IBIG housing loan (unless for loan restructuring)

Basic Document Requirements:

• Accomplished Housing Loan Application (HLA) Form with ID photo
• Proof of income (payslip, COE, or income documents for self-employed)
• One valid government-issued ID
• At least 24 Pag-IBIG monthly contributions (Pag-IBIG will verify this)

Property Documents:

• Certified True Copy of TCT/CCT
• Updated Tax Declaration
• Location plan / vicinity map
• Updated real property tax receipt (current year)
• Contract to Sell (if buying from a developer)
• Deed of Conditional Sale or Deed of Absolute Sale

For OFW members:

• Special Power of Attorney (SPA) for the attorney-in-fact
• Employment contract or proof of employment abroad

Pag-IBIG offers competitive rates, but they reprice periodically. If you're already a Pag-IBIG borrower and want to explore better long-term rates, check out our comparison of refinancing your Pag-IBIG loan to a private bank.

Processing times vary significantly between lenders and depend on how complete and clean your submission is. Here are typical timelines you can expect:

Private Commercial Banks (BDO, BPI, Metrobank, Security Bank, etc.):

• Initial document review: 3-5 banking days
• Credit evaluation and income verification: 5-10 banking days
• Property appraisal: 5-10 banking days (usually happens in parallel)
• Loan approval letter: 1-3 banking days after evaluation
• Total typical timeline: 2-6 weeks from complete submission

Pag-IBIG (HDMF):

• Document evaluation: 10-17 banking days
• Approval: Up to 30 banking days from complete submission
• Total typical timeline: 6-10 weeks

What slows down processing:

• Incomplete documents — the #1 cause of delays
• Property title issues (encumbrances, annotations, spelling errors)
• Income documents that don't match (e.g., ITR income vs. bank deposit history are very different)
• Properties in areas outside the bank's approved coverage zone
• Follow-up from the bank that goes unanswered

What speeds it up:

• Submitting a complete, well-organized document pack the first time
• Working with a mortgage broker like Nook, who knows exactly what each bank wants and helps prepare your file before submission
• Having an existing banking relationship with the lender

Getting rejected is more common than most people realize — and often it's not because the applicant can't afford the loan, but because of preventable documentation or eligibility issues. Here are the most frequent reasons:

1. Insufficient or Unstable Income
Banks typically require that your total monthly loan amortization not exceed 30-35% of your gross monthly income (the Debt-to-Income ratio). If your declared income doesn't support the loan amount you're requesting, expect a rejection or a reduced approval.

2. Poor Credit History
Missed payments on credit cards, car loans, or existing home loans are red flags. Banks check your credit history through the Credit Information Corporation (CIC) and internal records. Even a few late payments can hurt your application.

3. Incomplete or Inconsistent Documents
If your ITR shows significantly lower income than your bank statements suggest, banks get suspicious. Inconsistencies between documents can trigger further scrutiny or outright rejection.

4. Property Title Issues
Titles with existing mortgage annotations (liens), spelling errors in names, boundary disputes, or titles that haven't been transferred to the seller's name yet can all cause a rejection.

5. Property Location or Type Not Covered
Some banks don't lend on properties in certain provinces, or won't finance certain property types (e.g., raw land, properties in flood-prone areas, or properties without clear road access).

6. Age or Loan Tenure Mismatch
Most banks require that the loan be fully paid before the borrower turns 70. If you're applying for a 20-year term at age 55, some banks may reduce the approved term or reject outright.

If you've faced rejection before and are worried about your credit profile, our guide on how to refinance with bad credit in the Philippines has practical advice on improving your chances.

Yes — and yes, Nook's service is completely free to you as the borrower. Nook is the Philippines' first digital mortgage broker, and the way it works is simple: Nook earns a referral fee from the bank when your loan is successfully approved, so there is no cost to you at any point in the process.

Here's what Nook does for you:

• Document guidance: Nook tells you exactly what to prepare based on your profile (employed, self-employed, OFW, etc.) and the specific loan you're applying for — so you never waste time gathering the wrong documents
• Multi-bank comparison: Instead of applying to one bank and hoping for the best, Nook checks your profile against multiple lenders to find the one most likely to approve you at the best rate
• Application support: Nook's team reviews your application package before submission, catching errors or gaps that could cause delays or rejections
• Rate access: Nook has access to refinance rates as low as 5.99% p.a. — lower than what most homeowners are currently paying
• End-to-end follow-up: Nook tracks your application and communicates with the bank on your behalf so you don't have to chase for updates

Whether you're buying your first property, refinancing an existing loan, or switching from Pag-IBIG to a private bank, Nook simplifies the entire process. The best part: most clients save thousands of pesos per month on their amortization simply by refinancing to a lower rate — all with zero upfront fees for using Nook's service.

Ready to see what rate you qualify for? Start your free application at nook.com.ph — it takes less than 5 minutes to get started.