Planning to apply for a Security Bank housing loan in 2026? Before you submit your application, it helps to know exactly what documents you need, whether you qualify, and what to expect at each stage of the process. Security Bank is one of Nook's verified partner banks, offering competitive fixed rates starting at 6.99% p.a. for a 1-year fixed term — and with a minimum monthly income requirement of just 50,000, it's accessible to a wide range of Filipino borrowers including salaried employees, OFWs, self-employed professionals, and freelancers.
This page covers everything you need: the full documents checklist, income and eligibility requirements, loan purposes accepted, and how to apply through Nook for free. Whether you're buying a ready-for-occupancy unit, refinancing an existing loan, or funding a renovation, we've broken down the requirements step by step so you can walk into your application fully prepared. Note that interest rates are subject to change — always verify current rates before finalising your application.
Security Bank accepts housing loan applications from a broad range of borrower profiles. You are eligible to apply if you meet the following general 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 married to Filipino citizens (subject to additional requirements)
- Employment type: Security Bank accepts applicants who are employed in the private sector, government employees, BPO workers, OFWs and seafarers, self-employed individuals, licensed professionals, and freelancers
- Credit standing: A good credit history with no outstanding defaults or adverse records with the Credit Information Corporation (CIC)
The wide range of accepted employment types makes Security Bank one of the more inclusive lenders in the Philippine market. If you're unsure whether your employment situation qualifies, applying through Nook is a good first step — our team can assess your eligibility at no cost before you formally submit.
Security Bank requires a minimum monthly income of 50,000 for housing loan applicants. This applies across employment types, including salaried employees, self-employed borrowers, OFWs, and freelancers — though how income is documented varies by employment category (see questions below for specifics).
Keep in mind that income alone doesn't determine how much you can borrow. Security Bank uses a maximum debt-to-income (DTI) ratio of 40%, meaning your total monthly debt obligations — including the new housing loan repayment — should not exceed 40% of your gross monthly income. For example, if your gross monthly income is 80,000, your total monthly debt payments (including the new loan) should not exceed 32,000.
If your income is just at the minimum threshold, it's worth checking your existing debts before applying. Reducing outstanding credit card balances or other loan obligations can improve your DTI and increase your chances of approval at your desired loan amount.
All applicants — regardless of employment type — will need to submit the following core documents:
Personal / Identity Documents
- Duly accomplished Security Bank housing loan application form
- Two valid government-issued IDs (e.g., passport, driver's license, SSS/GSIS ID, PhilHealth ID, Voter's ID, or UMID)
- Marriage certificate (if applicable) or birth certificate of dependents
Income Documents (Employed)
- Certificate of Employment and Compensation (CEC) — original, issued within the last 3 months
- Latest one month payslip
- ITR (BIR Form 2316 or 1701) for the most recent taxable year, stamped by employer
Property Documents
- Photocopy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
- Lot plan with vicinity map certified by a licensed geodetic engineer
- Floor plan of the property (for house purchases or construction loans)
- Tax Declaration (land and improvement) and latest real property tax receipt
- Contract to Sell or Deed of Absolute Sale (if already executed)
Additional documents may be required depending on the loan purpose (e.g., renovation, construction, refinancing). Always confirm the latest checklist with Security Bank or your Nook advisor before submitting, as requirements can be updated.
OFWs and seafarers are welcome to apply for a Security Bank housing loan, but they need to submit a slightly different set of income documents to verify their earnings:
- Employment Contract: Authenticated copy of the current employment contract or POEA-verified contract, showing monthly salary and contract duration
- Proof of remittances: Bank statements or remittance records for the past 3 to 6 months showing consistent income inflow
- Crew Agreement (for seafarers): A copy of the latest crew agreement or seaman's book with proof of deployment
- OWWA Membership Certificate (if applicable)
- Special Power of Attorney (SPA): A notarised and apostilled SPA authorising a representative (usually a spouse or parent in the Philippines) to sign documents and transact on the OFW's behalf
- Two valid government-issued IDs (passport is typically required)
For OFWs applying remotely, Nook can coordinate document requirements and guide your Philippine-based representative through each step of the process — all at no charge to you.
Self-employed individuals, business owners, licensed professionals (doctors, lawyers, engineers), and freelancers need to demonstrate stable income through business or professional documentation. Here's what Security Bank typically requires:
For Business Owners / Self-Employed
- DTI or SEC Registration (and Articles of Incorporation for corporations)
- Business Mayor's Permit or Business License (latest)
- BIR Form 1701 (Annual Income Tax Return) for the last 2 years, stamped by BIR
- Audited Financial Statements for the last 2 years, signed by a CPA
- Bank statements for the past 6 months (business and/or personal accounts)
For Licensed Professionals
- PRC License (valid)
- BIR Form 1701 for the last 2 years
- Professional Tax Receipt (PTR)
- Bank statements for the past 6 months
For Freelancers
- Client contracts or service agreements showing regular income
- Bank statements for the past 6 months showing consistent deposits
- BIR Form 1701 or 2307 (Certificate of Creditable Tax Withheld)
Self-employed applicants are often asked to provide more documentation than salaried employees, but Security Bank explicitly accepts these borrower types. If your income is irregular month to month, Nook can help you present your financial picture in the strongest possible way before you apply.
Security Bank's housing loan covers a wide range of property-related purposes, making it a versatile option for different homeownership goals. Accepted loan purposes include:
- Ready for Occupancy (RFO): Purchase of a house and lot or condominium unit that is already completed and available for immediate move-in
- Pre-Selling: Purchase of a property that is still under development or in the pre-selling phase
- New Construction: Building a new home on a lot you already own
- Reselling: Purchase of a property being sold by a private individual (secondary market)
- Refinancing: Transferring your existing home loan from another bank to Security Bank to take advantage of a lower interest rate or better terms
- Home Equity: Using the equity in your existing property as collateral to access additional funds
- Renovation: Funding improvements, extensions, or repairs to your existing home
- Foreclosed Properties: Purchase of bank-foreclosed or acquired assets
If you're considering refinancing your existing home loan to Security Bank, Nook can calculate exactly how much you'd save by switching — and handle the entire application process for free.
Security Bank offers fixed-rate pricing options that let you lock in your rate for a defined period. Here are the current rates as verified by Nook:
- 1-Year Fixed: 6.99% p.a.
- 3-Year Fixed: 7.25% p.a.
- 5-Year Fixed: 7.75% p.a.
- Home Equity Loan: 7.50% p.a.
After the fixed period ends, the rate is typically repriced based on the prevailing market rate at that time. Many borrowers opt for the 1-year fixed to get the lowest initial rate, then refinance again when the period ends if better options are available.
For context, most Filipino homeowners are currently paying between 7% and 10% on their existing home loans — so if you're in that range, Security Bank's rates may represent a meaningful saving. You can explore Security Bank's home loan interest rates in more detail here.
Note: Interest rates are subject to change without prior notice. Always confirm the latest rates with Security Bank or your Nook advisor before proceeding with your application.
Security Bank's typical housing loan approval timeline is approximately 23 banking days from the date of complete document submission. This is a competitive turnaround time compared to many other Philippine banks.
The approval process generally follows these stages:
- Document submission and initial review (Days 1–3): Your application and documents are received and checked for completeness
- Credit assessment (Days 4–10): Security Bank evaluates your income, DTI ratio, credit history, and overall creditworthiness
- Property appraisal (Days 8–15): An accredited appraiser visits and assesses the property being financed. This can happen in parallel with credit assessment
- Loan approval and offer (Days 16–20): If approved, you receive a formal Letter of Approval with the offered loan amount, term, and interest rate
- Loan documentation and release (Days 21–23+): You sign loan documents, pay applicable fees, and the loan proceeds are released or the title transfer is facilitated
Delays most commonly occur due to incomplete documents or issues with the property title. Submitting a complete and well-organised application package from the start is the best way to stay on track.
Nook is a free digital mortgage broker — you pay nothing to use our service, and we handle the coordination with Security Bank on your behalf. Here's how the process works:
- Submit your details online: Fill out Nook's short application form at nook.com.ph. It takes about 5 minutes and covers your income, employment type, loan purpose, and property details
- Get your free assessment: A Nook mortgage advisor will review your profile and confirm whether Security Bank is the right fit — or whether another lender might offer you a better deal
- Prepare your documents: Your Nook advisor will send you a personalised checklist based on your employment type and loan purpose, so you only gather exactly what's needed
- We submit on your behalf: Once your documents are ready, Nook prepares and submits your complete application package to Security Bank
- Track your application: We keep you updated at every stage — from document acknowledgement through to approval — so you're never left guessing
- Loan release: Once approved, Nook assists you through the final documentation and disbursement steps
Nook's service is 100% free to borrowers. We are compensated by the bank upon successful loan release, so there's no reason not to use us. You can also learn more about Security Bank's housing loan features and how to apply on our dedicated product page.
A well-prepared application significantly reduces the risk of delays or rejection. Here are the most effective steps you can take before submitting:
- Check your credit record: Request your credit report from the Credit Information Corporation (CIC) before applying. Dispute any errors and settle any outstanding negative records in advance
- Reduce your existing debts: Since Security Bank uses a 40% maximum DTI ratio, paying down credit card balances or personal loans before applying gives you more borrowing room
- Ensure your income documents are current: Certificates of Employment must be issued within the last 3 months. Outdated documents are one of the most common causes of processing delays
- Have your property documents complete: A clean title with no encumbrances and an up-to-date tax declaration makes the appraisal process smoother
- Be consistent across all documents: Make sure your name, address, and income figures are consistent across all submitted documents — discrepancies raise red flags during credit review
- Apply through Nook: Our advisors review your application before it reaches the bank, catching gaps or inconsistencies early. This single step can meaningfully improve your approval odds and shorten processing time
If you've been declined by another bank previously, don't assume Security Bank will also decline. Different banks use different credit criteria, and Nook can help identify the lender most likely to approve your profile.