Security Bank Home Loan Requirements: Eligibility, Documents & Application

To qualify for a Security Bank home loan, you generally need to meet the following criteria:

• Age: You must be at least 21 years old at the time of application, and no older than 65 years old at loan maturity.
• Citizenship: Filipino citizens are eligible. Some foreign nationals married to Filipinos may also qualify under certain conditions.
• Income: You must have a verifiable monthly income of at least 50,000 pesos.
• Employment or business stability: You should have at least 2 years of continuous employment or business operation, depending on your employment type.
• Good credit standing: Security Bank will check your credit history. A clean record with no major defaults significantly improves your chances.

Security Bank accepts borrowers across a wide range of employment categories, making it one of the more inclusive lenders in the Philippine market. See the full breakdown of accepted employment types in the question below.

Security Bank requires a minimum monthly income of 50,000 pesos. This applies across employment types, though how income is calculated and verified differs depending on your situation:

• Employed applicants: Income is based on your basic salary plus allowances as shown on your payslips and Certificate of Employment.
• Self-employed / business owners: Income is assessed using your ITR, audited financial statements, and business documents. Lenders typically average the past 2 years of taxable income.
• OFWs: Remittance records, employment contracts, and proof of overseas earnings are used to verify income.
• Freelancers / professionals: Bank statements covering the past 12 months, contracts, and ITR are commonly required.

If you are a co-borrower (e.g., a spouse), Security Bank may allow combined household income to meet the minimum threshold, which can be helpful for borrowers who individually fall just below the requirement.

Keep in mind that meeting the minimum income threshold alone doesn't guarantee approval — Security Bank also applies a maximum debt-to-income (DTI) ratio of 40%, meaning your total monthly loan obligations (including the new home loan) must not exceed 40% of your gross monthly income.

Security Bank is notably flexible when it comes to employment types. The following categories are accepted:

• Private sector employees — regular or probationary employees of companies in good standing
• Government employees — including those working for national agencies, LGUs, GOCCs, and state universities
• BPO workers — employees of business process outsourcing companies (night-differential income is often considered)
• OFWs and seafarers — overseas Filipino workers with valid employment contracts and verifiable remittance history
• Self-employed individuals — sole proprietors, partnerships, and business owners with at least 2 years of profitable operations
• Professionals — doctors, lawyers, CPAs, engineers, and other licensed professionals in private practice
• Freelancers — independent contractors and remote workers who can show consistent income via bank statements and contracts

This broad eligibility makes Security Bank a strong option for non-traditional borrowers who may find stricter lenders more difficult to work with. If you're unsure whether your employment profile qualifies, Nook can assess your situation before you formally apply — at no cost to you.

Security Bank offers the following fixed interest rates for home loans:

• 1-Year Fixed: 6.99% p.a.
• 3-Year Fixed: 7.25% p.a.
• 5-Year Fixed: 7.75% p.a.
• Home Equity: 7.50% p.a.

The 1-year fixed rate of 6.99% p.a. is one of the most competitive entry rates available from major Philippine banks right now. After your fixed period ends, the rate will reprice based on prevailing market rates at the time of repricing — so it's important to plan ahead for that transition.

To see how Security Bank stacks up against other banks, you can read our Security Bank vs Metrobank refinance rates comparison or the Chinabank vs Security Bank home loan rates comparison for 2026.

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

The documents required vary slightly by employment type, but here is a comprehensive checklist covering what most applicants will need:

Personal / Identity Documents (all applicants):

• Duly accomplished Security Bank home loan application form
• Two valid government-issued IDs (front and back)
• Marriage certificate (if married) or birth certificate of dependents
• Tax Identification Number (TIN)

Income Documents — Employed Applicants:

• Latest 1-month payslips (or last 3 months for variable income earners)
• Certificate of Employment (COE) with salary details, issued within the last 3 months
• Latest ITR (BIR Form 2316 or 1700) with BIR stamp or e-filing acknowledgment

Income Documents — Self-Employed / Business Owners:

• Latest 2 years of ITR (BIR Form 1701) with audited financial statements
• Business registration documents (DTI, SEC, Mayor's Permit)
• Latest 3-6 months of bank statements

Income Documents — OFWs / Seafarers:

• Latest employment contract or POEA-approved contract
• Latest 3-6 months of remittance records or bank statements
• Proof of overseas employer / manning agency

Property Documents:

• Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) — certified true copy
• Lot plan with vicinity map
• Tax declaration and latest real property tax receipt
• Contract to Sell (for pre-selling properties)
• Appraisal report (Security Bank will typically order this)

Having complete documents ready before you apply significantly speeds up the process. Nook can provide you with a personalized checklist based on your specific situation.

Security Bank accepts home loan applications for a broad range of purposes, including:

• Purchase of Ready for Occupancy (RFO) properties — house and lot, townhouse, or condominium units that are move-in ready
• Pre-selling properties — units purchased from developers that are not yet complete
• Reselling (secondary market) — buying a property from a private seller
• New construction — building a home on a lot you already own
• Renovation — funding major improvements or extensions to an existing property
• Refinancing — transferring your existing home loan from another bank to Security Bank for a lower rate or better terms
• Home equity loan — borrowing against the equity of a property you already own, typically for large expenses or investments
• Foreclosed properties — purchasing bank-acquired assets

This makes Security Bank a versatile option regardless of where you are in your property ownership journey. For refinancing specifically, Security Bank's rates are worth comparing carefully — Nook can help you calculate potential savings.

Security Bank's typical approval timeline is approximately 23 days from submission of a complete application with all required documents. This is competitive compared to many Philippine banks, which can take 30 to 45 days or longer.

Here's a general breakdown of the stages:

• Document review (Days 1–5): Security Bank checks whether your submission is complete and may request additional documents.
• Credit evaluation (Days 5–15): Your income, credit history, DTI ratio, and employment are assessed.
• Property appraisal (Days 10–18): An independent appraisal of the collateral property is conducted. Delays at this stage are common if the property has title issues or is in a less accessible location.
• Loan offer and signing (Days 18–23): You receive a formal loan offer, review the terms, and sign the loan agreement.

The most common cause of delays is incomplete documentation at the time of submission. Submitting a clean, complete application from day one can save a week or more. Nook's team reviews your documents before they're sent to the bank, helping to reduce back-and-forth and keep your application on track.

Security Bank applies a maximum debt-to-income (DTI) ratio of 40%. This means that your total monthly debt obligations — including the proposed home loan payment — must not exceed 40% of your gross monthly income.

Here's a practical example: If your gross monthly income is 100,000 pesos, your total monthly loan payments (car loans, credit card minimum payments, personal loans, and the new home loan) cannot exceed 40,000 pesos. The higher your existing obligations, the lower the home loan amount you may qualify for.

Tips to improve your DTI before applying:

• Pay down or close outstanding credit cards or personal loans where possible
• Avoid taking on new credit in the months before your application
• If you have a co-borrower (e.g., spouse), ensure their income is documented — this increases your combined qualifying income and gives you more headroom

If you're unsure whether your current obligations put you over the 40% threshold, Nook can run the numbers for you before you formally apply.

Yes — Security Bank explicitly accepts both OFWs/seafarers and freelancers as eligible borrowers, which is not the case with every Philippine bank.

For OFWs and seafarers: You'll need to provide a valid employment contract (POEA-stamped if applicable), proof of remittance or overseas income such as bank statements showing regular deposits, and a government-issued ID. A co-borrower based in the Philippines — such as a spouse — is typically required or strongly recommended, as they serve as the primary point of contact during processing and can sign documents locally.

For freelancers: Security Bank will assess your income based on your bank statements (typically the last 12 months), any ongoing contracts or service agreements with clients, and your ITR if you are filing as a professional or sole proprietor. Consistency and volume of deposits matter — irregular or seasonal income can make qualification more challenging, but not impossible if you can demonstrate a stable average.

In both cases, meeting the minimum monthly income threshold of 50,000 pesos and keeping your DTI below 40% are the key hurdles. Nook's team has experience helping non-traditional borrowers structure their applications to present their income in the strongest, most accurate way possible.

Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers. Here's specifically how we add value when applying for a Security Bank home loan:

• Document review before submission: We check your documents for completeness and flag issues before the bank sees them — reducing delays and improving your first-impression.
• Rate and eligibility assessment: We help you determine whether Security Bank is the right fit for your income, employment type, and loan purpose, and compare it with other lenders where relevant.
• Loan calculations: Use our Security Bank housing loan calculator to model your monthly payment and total interest cost before committing.
• Application management: We coordinate with Security Bank on your behalf, following up on your application status and managing communication so you don't have to chase the bank yourself.
• No conflict of interest: Unlike bank employees who are incentivized to push one product, Nook gives you unbiased advice and helps you find the best option for your situation.

Whether you're a first-time buyer, refinancing from another bank, or an OFW applying from abroad, Nook simplifies the process at no cost to you. Fill out our short intake form to get started and we'll be in touch within one business day.