Security Bank Housing Loan Requirements: Eligibility & Documents

To qualify for a Security Bank housing loan, applicants must generally meet the following criteria:

• Age: At least 21 years old at the time of application, and not more than 65 years old upon loan maturity
• Citizenship: Filipino citizens, or foreign nationals married to Filipino citizens (subject to additional requirements)
• Employment status: Must be employed or self-employed with a stable, verifiable source of income
• Credit standing: Must have a satisfactory credit history with no unresolved adverse credit records

Security Bank accepts a wide range of employment types, including private-sector employees, government workers, BPO employees, OFWs and seafarers, self-employed individuals, licensed professionals, and freelancers — making it one of the more accessible bank lenders in the market.

Security Bank requires a minimum combined gross monthly income of 50,000 for housing loan applicants. This can be from a single borrower or from co-borrowers (such as a spouse or a family member) whose incomes are combined to meet the threshold.

This income requirement is relatively accessible compared to some other major Philippine banks, which often require higher monthly incomes for the same loan amounts. If your individual income falls below 50,000 per month, including a co-borrower can help you qualify and may also allow you to borrow a larger amount.

Income is verified through official documents (see the income documents FAQ below), so make sure your payslips, ITR, or business financials accurately reflect your earnings before applying.

Security Bank typically requires at least two (2) valid government-issued IDs. Accepted IDs generally include:

• Philippine passport
• SSS or GSIS ID
• Driver's license
• PRC ID (for licensed professionals)
• Voter's ID or voter's certification
• PhilHealth ID
• Postal ID
• TIN ID
• Unified Multi-Purpose ID (UMID)
• National ID (PhilSys)

For OFWs and seafarers, additional identification such as a valid passport, OFW ID, or POEA documentation may be required. It is always best to present primary IDs (passport, driver's license, UMID) as your first choices, with secondary government IDs as supplementary documents.

Please note that requirements may be updated by Security Bank at any time. Always confirm the current accepted ID list directly with the bank or through Nook before submitting your application.

The income documents required vary depending on your employment type:

For private-sector and government employees:

• Latest one (1) month payslip
• Certificate of Employment (COE) indicating tenure, position, and compensation
• Income Tax Return (ITR) — BIR Form 2316 or Form 1700 — for the most recent year

For self-employed individuals and business owners:

• BIR Form 1701 (Annual ITR) for the past two (2) years, duly stamped received by the BIR
• Audited Financial Statements (AFS) for the past two (2) years
• DTI or SEC registration of the business
• Business permits and licenses
• Bank statements for the past three (3) to six (6) months

For OFWs and seafarers:

• Employment contract or POEA-certified contract
• Latest payslip or proof of remittance
• Crew contract or certificate of employment (for seafarers)
• Bank remittance records for the past three (3) to six (6) months

For freelancers and professionals:

• Latest ITR with BIR stamp
• Bank statements for the past three (3) to six (6) months
• Contracts or invoices showing regular income, where available

Always prepare originals and photocopies of all documents. Requirements can change, so verify the latest checklist with Security Bank or ask Nook to guide you through preparation.

The property documents you need to submit depend on the type of property you are purchasing or using as collateral. Here is a general guide:

For all property types:

• Photocopy of the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
• Lot plan with location map, certified by a licensed geodetic engineer
• Tax Declaration (land and improvement) — latest copy
• Real Property Tax receipts (current year)

For house and lot or condominium purchases (from a developer):

• Contract to Sell from the developer
• Developer's license to sell and development permit
• Floor plan and unit layout (for condominiums)

For resale properties:

• Deed of Absolute Sale (or draft)
• Owner's duplicate copy of the title

For refinancing:

• Statement of Account from the current lender
• Latest billing statement showing outstanding balance

If you are refinancing your existing home loan to Security Bank, you can learn more about the full process and requirements at Security Bank housing loan refinance — better rates available.

As of the latest available data, Security Bank's housing loan interest rates are:

• 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.

These rates apply to new housing loan applications as well as refinancing. For borrowers currently paying rates of 8%, 9%, or 10% with their existing lender, switching to Security Bank through Nook could meaningfully reduce your monthly amortisation. For example, on a 3,000,000 loan over 20 years, the difference between a 9% rate and Security Bank's 6.99% 1-year fixed rate translates to significant monthly savings.

For a full breakdown of Security Bank's rate tiers and how they compare to other lenders, see our Security Bank housing loan interest rates and requirements guide.

Note: Interest rates are subject to change without prior notice. Always confirm current rates with Security Bank or through Nook before making any financial decisions.

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

Key factors that can affect your approval timeline include:

• Completeness of your documents — missing or incorrect documents are the most common cause of delays. Submitting a complete package from the start is the single best way to speed up approval.
• Property appraisal scheduling — the bank will arrange an appraisal of the collateral property, and availability of appraisers in your area can affect timing.
• Credit verification — the bank will check your credit history with the Credit Information Corporation (CIC) and other sources.

Applying through Nook means you have a dedicated mortgage specialist who reviews your documents before submission, reducing the risk of back-and-forth with the bank and helping you get to approval faster.

Security Bank applies a maximum Debt-to-Income (DTI) ratio of 40%. This means that your total monthly debt obligations — including the proposed housing loan amortisation, car loans, personal loans, credit card minimum payments, and any other recurring debts — must not exceed 40% of your gross monthly income.

Example: If your gross monthly income is 100,000, your total monthly debt payments (including the new housing loan) must not exceed 40,000. If you already have a car loan requiring 8,000 per month, the maximum housing loan amortisation the bank would approve is 32,000 per month.

This is an important figure to calculate before you apply, as it determines how much you can borrow. Including a co-borrower (such as a working spouse) effectively increases the combined income base, raising your DTI ceiling and allowing you to qualify for a larger loan amount.

Yes — Security Bank accepts housing loan applications from a broad range of employment and income types, including:

• OFWs and seafarers: Must provide employment contracts, proof of remittance, and POEA documentation where applicable. A Special Power of Attorney (SPA) is typically required for OFWs who cannot be present in the Philippines during the application process.
• Self-employed individuals and business owners: Must demonstrate at least two years of profitable business operations, supported by audited financial statements and BIR-filed ITRs.
• Freelancers and independent professionals: Should present bank statements, contracts, and ITRs showing consistent income. A track record of regular remittances or deposits strengthens the application.
• BPO employees: Accepted with standard employee documentation. Night differential and allowances may be considered as part of income depending on how they appear on your payslip and COE.

If your income type is non-traditional, Nook's mortgage specialists can help you present your financials in the best possible light and advise on which bank and product is most likely to approve your profile.

Nook is the Philippines' first digital mortgage broker, and our service is 100% free to borrowers. When you apply for a Security Bank housing loan through Nook, here is what you get:

• Document review before submission — our specialists check your documents for completeness and accuracy before anything goes to the bank, reducing delays and rejections.
• Rate comparison — we check Security Bank's offer against other partner banks to make sure you are getting the best available deal for your profile.
• End-to-end guidance — from eligibility check to loan release, Nook's team is with you at every step, answering questions and managing communications with the bank on your behalf.
• Refinancing expertise — if you already have a home loan and want to reduce your rate, Nook specialises in refinancing. The best rate currently available through Nook is 5.99% p.a. — significantly lower than what most Filipino homeowners are currently paying.

There are no hidden fees, no commissions charged to you, and no obligation. Whether you are a first-time buyer or looking to refinance, Nook makes the process faster, clearer, and less stressful.