Security Bank Home Loan Requirements

Security Bank accepts home loan applications from a wide range of borrower profiles, making it one of the more inclusive lenders in the Philippines. Eligible employment types include:

• Private sector employees — locally employed on a regular or permanent basis
• Government employees — including those with plantilla or permanent positions
• BPO workers — employed in business process outsourcing companies
• OFWs and seafarers — with valid employment contracts or sea service records
• Self-employed individuals — business owners and sole proprietors with at least 2 years of profitable operations
• Professionals — doctors, lawyers, accountants, engineers, and other licensed practitioners
• Freelancers — with documented and verifiable income

In addition to employment type, applicants generally must be Filipino citizens (or have eligible foreign nationality status), at least 21 years old at the time of application, and not older than 65 years old at loan maturity. Co-borrowers such as a spouse or immediate family member may be included to strengthen the application.

Security Bank requires a minimum combined gross monthly income of 50,000 for home loan applicants. This applies across all employment types — whether you are a salaried employee, self-employed professional, OFW, or freelancer.

Importantly, Security Bank uses a maximum Debt-to-Income (DTI) ratio of 40%, which means your total monthly loan obligations — including the new home loan amortization — should not exceed 40% of your gross monthly income. For example, if your household income is 100,000 per month, your total debt payments (including the proposed mortgage) must not exceed 40,000.

If your individual income falls short, you can include a co-borrower to meet this threshold. A spouse's income is typically the most common combination, but other immediate family members may also qualify depending on Security Bank's assessment.

If you are a locally employed private sector employee, government worker, or BPO professional, you will typically need to submit the following documents:

• Duly accomplished Security Bank home loan application form
• Valid government-issued IDs — at least two (e.g., passport, driver's license, SSS/GSIS ID, PhilHealth ID, Unified Multi-Purpose ID)
• Certificate of Employment (COE) — issued within the last 3 months, stating your position, tenure, and monthly compensation
• Latest 1-month payslip — or the last 3 months of payslips for more thorough income verification
• Income Tax Return (ITR) — BIR Form 2316 or BIR Form 1701 for the most recent taxable year, stamped received by the BIR or your employer
• Latest 3 months bank statements — showing regular salary credits

Government employees may additionally be asked to provide their latest GSIS statement of account or proof of plantilla position. All documents must be clear, complete, and within the specified validity periods.

Self-employed individuals, business owners, and licensed professionals applying for a Security Bank home loan typically need to provide more extensive financial documentation to demonstrate income stability. Required documents generally include:

• Duly accomplished home loan application form
• Two valid government-issued IDs
• DTI Registration or SEC Registration — proof that your business is legally registered
• Business permits and licenses — latest Mayor's Permit or Barangay Business Clearance
• Audited Financial Statements (AFS) — for the last 2 years, signed by a CPA and stamped received by the BIR
• BIR Income Tax Return (ITR) — BIR Form 1701 for the last 2 years
• Latest 6 months bank statements — for both personal and business accounts if applicable
• List of trade references or clients — may be required depending on the nature of the business

For freelancers, Security Bank may accept alternative income documentation such as contracts, invoices, remittance records, or platform income statements. It's best to discuss your specific situation with a Nook mortgage specialist who can guide you on what Security Bank will accept.

Overseas Filipino Workers and seafarers are welcome to apply for a Security Bank home loan. Since you are based abroad or frequently at sea, the documentation requirements are slightly different:

• Duly accomplished home loan application form — may be completed by an authorized representative with a Special Power of Attorney (SPA)
• Special Power of Attorney (SPA) — notarized and authenticated (apostilled) by the Philippine Consulate or Embassy in the country where you are working, authorizing a local representative to act on your behalf
• Two valid government-issued IDs — including your passport
• Proof of employment abroad — valid Overseas Employment Certificate (OEC), employment contract, or crew contract for seafarers
• Latest 3 months proof of remittance — bank remittance records or remittance receipts showing funds sent to the Philippines
• Latest 3-6 months bank statements — from your local Philippine bank account
• POEA-certified employment contract — for land-based OFWs where applicable

If you have a co-borrower based in the Philippines (such as a spouse), their documents will also need to be submitted alongside yours. This can make the process smoother as the local co-borrower can attend to follow-up requirements directly.

Alongside your personal and income documents, Security Bank will require complete documentation for the property you are financing or refinancing. Required property documents typically include:

• Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) — certified true copy from the Registry of Deeds
• Tax Declaration — for both land and improvements, certified by the Assessor's Office
• Latest Real Property Tax (RPT) receipt — proof that property taxes are up to date
• Lot plan with vicinity map — certified by a licensed geodetic engineer
• Contract to Sell or Deed of Absolute Sale — for purchase transactions
• Floor plan — for house and lot or condominium purchases
• For refinancing: latest Statement of Account from your existing bank showing your outstanding loan balance
• For renovation loans: bill of materials and cost estimates signed by a licensed engineer or architect

For pre-selling properties, Security Bank will typically accept the developer's license to sell and the contract to sell in lieu of a fully transferred title. If you are looking for a full breakdown of what's needed specifically for refinancing, see our guide on Security Bank home loan refinancing requirements and rates.

Security Bank's home loan product is versatile and supports a broad range of property financing needs. Eligible loan purposes include:

• Purchase of a Ready For Occupancy (RFO) property — from a developer or an individual seller
• Purchase of a pre-selling property — for off-plan condominium or house and lot units
• Refinancing an existing home loan — to get a lower interest rate or better loan terms from another bank
• Home renovation or improvement — to fund repairs, extensions, or upgrades to your existing home
• New construction — building a new residential structure on a lot you already own
• Home equity or cash-out loans — using your property as collateral to access funds for other purposes (rate: 7.50% p.a.)
• Purchase of foreclosed properties — bank-owned or government-foreclosed real estate
• Reselling transactions — buying a property from a previous owner in a secondary market sale

This breadth of coverage makes Security Bank a flexible choice for borrowers at different stages of their property journey.

Security Bank offers fixed interest rate periods to help borrowers manage their monthly budget with predictability. Current indicative rates are:

• 1-Year Fixed Rate: 6.99% p.a.
• 5-Year Fixed Rate: 6.75% p.a.
• Home Equity Loan Rate: 7.50% p.a.

After the fixed rate period ends, the rate typically reprices based on the prevailing market rate at the time. Loan terms generally range from 5 to 20 years, depending on the loan purpose, property type, and borrower profile. As a rule of thumb, the monthly amortization for a 3,000,000 loan at 6.75% over 20 years would be approximately 22,700 per month.

Minimum loan amounts, maximum Loan-to-Value (LTV) ratios, and other specific conditions will be confirmed during the bank's credit evaluation. Rates are subject to change — always confirm the latest figures with Security Bank or through Nook before proceeding. For a deeper look at how these rates compare, visit our Security Bank housing loan interest rates and requirements guide.

Security Bank has one of the faster turnaround times among Philippine banks for home loan approvals. The typical approval timeline is 23 days from the date of complete document submission. This means that once all your personal, income, and property documents are in order and submitted, you can generally expect a credit decision within about three to four weeks.

Keep in mind that incomplete documents are the single most common cause of delays. Missing an ITR, an outdated COE, or an uncertified title copy can add days or weeks to your timeline. Working with a mortgage broker like Nook helps ensure your documents are complete and properly organized before submission, reducing the risk of back-and-forth with the bank. Nook also has a direct relationship with Security Bank as a partner bank, which helps facilitate smoother processing.

Yes — and yes. Nook is the Philippines' first digital mortgage broker, and Security Bank is one of Nook's official partner banks. Nook's service is 100% free to borrowers. Nook earns a referral fee from the bank, not from you, so there is no cost to you for using Nook's service at any stage of the process.

When you apply through Nook, you get access to a dedicated mortgage specialist who will help you understand Security Bank's eligibility criteria, prepare your complete document checklist, review your application before submission, and follow up with the bank on your behalf. If Security Bank turns out not to be the best fit for your situation, Nook can compare options across multiple partner banks to find the most competitive rate and terms available for your profile.

If you already have a home loan with another bank and are paying more than 6.75% to 7% interest, it may be worth exploring a refinance. Nook's best available refinance rate starts at 5.99% p.a. — potentially saving you thousands of pesos every month. Start your free assessment at nook.com.ph today.