Metrobank Housing Loan Requirements 2026: Documents, Eligibility & Application

To qualify for a Metrobank housing loan, you generally need to meet the following criteria based on publicly available information (subject to change — verify with Metrobank directly):

• 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 married to Filipino citizens (with additional documentation)
• Employment status: Must be a locally employed individual with at least 2 years of continuous employment, a self-employed individual with a profitable business operating for at least 2 years, or an OFW with valid employment contracts
• Income: Sufficient gross monthly income to cover the monthly amortization, typically assessed using a debt-to-income ratio. The monthly amortization generally should not exceed 30–40% of your gross monthly income
• Credit standing: Good credit history with no major delinquencies

Meeting minimum eligibility is just the starting point — Metrobank will assess your full financial profile during the credit evaluation stage. If you're unsure whether you qualify, comparing options through Nook's free broker service can help you identify which partner banks best fit your profile.

The exact document checklist may vary depending on your employment type and the purpose of the loan. Below is a general guide based on publicly available Metrobank requirements — confirm the current list with Metrobank before submission.

All applicants:

• Duly accomplished Metrobank housing loan application form
• Two valid government-issued IDs (e.g., passport, SSS ID, driver's license, UMID)
• Marriage certificate (if applicable)
• Birth certificate

Locally employed applicants:

• Latest 1 month payslips
• Certificate of Employment (COE) with salary details, dated within 3 months
• Latest Income Tax Return (ITR — BIR Form 2316 or 1700) stamped by BIR, for the past 1–2 years

Self-employed applicants:

• Business registration documents (DTI or SEC registration, Mayor's Permit)
• Audited Financial Statements for the past 2 years, stamped by BIR
• Latest ITR for the past 2 years (BIR Form 1701)
• Bank statements for the past 6–12 months

OFW applicants:

• Valid employment contract or POEA-approved contract
• Latest Overseas Employment Certificate (OEC)
• Proof of remittances for the past 6–12 months
• Special Power of Attorney (SPA) if applying through a representative in the Philippines

Property documents (for purchase or construction):

• Fully executed Contract to Sell or Deed of Absolute Sale
• Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) — certified true copy
• Tax Declaration (land and improvement)
• Lot plan / vicinity map
• For construction: approved building plans, bill of materials, construction cost estimate

Gathering these documents before you apply significantly speeds up the process. Missing even one document is a common reason for delays in Philippine bank loan applications.

Please note: Metrobank is not a Nook partner bank. The rates below are approximate, based on publicly available information, and are subject to change without notice. Always confirm the latest rates directly with Metrobank.

Metrobank housing loan interest rates are typically structured on a re-pricing basis, meaning the rate is fixed for an initial period (e.g., 1, 2, 3, or 5 years) and then adjusted based on prevailing market rates. Based on general industry knowledge, Metrobank's rates have historically ranged from approximately 7% to 10% p.a. depending on the fixing period and loan term chosen. Longer fixing periods tend to carry slightly higher rates than shorter ones.

For context, the best refinance rates currently available through Nook's partner banks start at 5.99% p.a. — significantly lower than the typical range most Filipino homeowners are paying. If you're currently paying 8% or more on a Metrobank loan, it may be worth exploring whether refinancing through a Nook partner bank could reduce your monthly payments. Use our Metrobank housing loan calculator to run the numbers for your situation.

Based on publicly available information (subject to change — verify directly with Metrobank):

• Minimum loan amount: Typically around 500,000
• Maximum loan amount: Generally up to 80% of the appraised value of the property for purchase or the total project cost for construction (known as the Loan-to-Value ratio or LTV)
• Loan term: Up to 20–25 years depending on the loan purpose and your age at maturity

The actual amount you can borrow will depend on your income, existing obligations, the appraised value of the property, and Metrobank's credit assessment. As a practical rule of thumb, your monthly amortization should generally not exceed 30–40% of your gross monthly income.

Example: If your gross monthly income is 80,000, your maximum comfortable monthly amortization would typically be around 24,000 to 32,000. At approximately 8% p.a. over 20 years, this could support a loan of roughly 3,200,000 to 4,200,000 — though actual approval depends on Metrobank's full credit assessment.

Metrobank's home loan products can generally be used for the following purposes:

• Purchase of a residential property — house and lot, condominium unit, or townhouse from a developer or individual seller
• Construction of a residential property on a lot you already own
• Home improvement or renovation of an existing residential property
• Refinancing of an existing home loan from another bank
• Equity takeout — borrowing against the equity you have built up in an existing property

Each purpose may have slightly different documentary requirements and maximum LTV ratios. Construction and renovation loans, for example, typically require detailed plans, cost estimates, and may be released in tranches tied to construction progress milestones.

Based on publicly available information and general industry experience in the Philippines, the typical timeline for a Metrobank housing loan application is as follows:

• Document submission and initial review: 1–3 business days
• Property appraisal: 3–7 business days after document completion
• Credit evaluation and approval: 5–10 business days after complete documents and appraisal
• Loan documentation and signing: 3–5 business days after approval
• Loan release: 3–5 business days after signing

Total estimated timeline: approximately 3–6 weeks from complete document submission to loan release, assuming no issues arise.

Common causes of delays include incomplete documents, discrepancies in submitted information, title issues with the property, or a backlog in the bank's processing queue. The best way to avoid delays is to submit a complete, well-organized set of documents from the start. If speed is important to you, Nook's partner banks offer a streamlined digital process with dedicated processing support — ask us about current turnaround times.

Housing loan fees in the Philippines can add up significantly. Based on publicly available information, here are the typical fees associated with a Metrobank housing loan (approximate, subject to change — verify with Metrobank):

• Appraisal fee: Approximately 3,500 to 6,000 or more depending on property location and type — usually paid upfront
• Processing fee: Varies; some banks fold this into the loan or waive it during promotions
• Mortgage redemption insurance (MRI): Life insurance that covers your outstanding loan balance — typically charged annually
• Fire insurance: Required for the property — typically charged annually
• Notarial and documentation fees: Paid at signing
• Registration fees: For annotating the mortgage on the title at the Registry of Deeds
• Pre-termination fee: If you pay off or refinance before the end of the fixed rate period — typically around 2–3% of the outstanding balance

Always ask for a full fee schedule before committing. One advantage of working with Nook is that our service is 100% free to borrowers — we are compensated by the partner bank, not you, so there is no additional cost to getting professional guidance.

Yes. Based on publicly available information, Metrobank accepts housing loan applications from Overseas Filipino Workers (OFWs). OFWs are a significant borrower segment for Philippine banks, and most major banks including Metrobank have processes designed for applicants who are based abroad.

Key considerations for OFW applicants:

• Income documentation: You will need to provide a valid employment contract (ideally POEA-approved), proof of income, and evidence of remittances sent to the Philippines
• Special Power of Attorney (SPA): If you cannot be physically present to sign documents, you will need a duly notarized and authenticated SPA authorizing a representative in the Philippines to act on your behalf
• Valid OEC and passport: Required for identity and employment verification
• Loan purpose: OFW housing loans can typically be used for purchase, construction, or refinancing, subject to the same property requirements as local applicants

Processing an OFW loan can take longer than a locally employed application due to the additional documentation requirements and the need to authenticate documents executed abroad. Plan ahead accordingly.

Applying directly to Metrobank means you are working with a single bank's products, rates, and processes. A mortgage broker like Nook, on the other hand, works with multiple partner banks and can match you with the lender and product that best fits your financial profile — often at better rates than you might find on your own.

Here is a side-by-side comparison:

• Rate access: Applying directly to Metrobank gives you access only to Metrobank's rates. Through Nook, you can access partner bank rates starting from 5.99% p.a.
• Cost to you: Nook's service is completely free to borrowers. We are compensated by the partner bank if your loan is approved — you pay nothing extra.
• Effort: Applying to multiple banks yourself means repeating the process multiple times. Nook streamlines this into a single application.
• Guidance: Nook provides dedicated support throughout the process — document preparation, bank selection, and follow-up — reducing the risk of errors and delays.
• Rates transparency: Nook partner banks provide verified, current rate information. Rates from non-partner banks like Metrobank are subject to change and may not always be publicly listed.

If you're specifically committed to Metrobank, applying directly is fine. But if you want to make sure you're getting the best possible rate and terms, it costs nothing to check what Nook's partner banks can offer. See our guide on Metrobank home loan refinancing for more on switching or refinancing options.

Refinancing your Metrobank home loan could make a lot of financial sense — especially if your current interest rate is 7% or higher, which is common for loans taken out in recent years. The best refinance rates currently available through Nook's partner banks start at 5.99% p.a., which could translate into meaningful monthly savings.

Example: On a loan balance of 3,000,000 with 20 years remaining, the difference between paying 8.5% p.a. and 5.99% p.a. is approximately 4,200 per month — or over 50,000 per year in savings.

Key factors to consider before refinancing:

• Pre-termination penalty: Metrobank may charge a pre-termination fee (typically 2–3% of outstanding balance) if you refinance within the fixed rate period. Factor this into your break-even calculation.
• Remaining loan balance and term: Refinancing makes more sense earlier in your loan term, when the interest savings are largest.
• New loan costs: Account for appraisal fees, processing fees, and registration costs on the new loan.
• Your credit profile today: If your income or credit standing has improved since you took out your original loan, you may qualify for better rates now.

Nook can help you run the numbers and compare your current Metrobank loan against what partner banks can offer — for free. There is no obligation, and you may find you can save significantly over the life of your loan.