Thinking of applying for a UnionBank housing loan? Here's the complete eligibility checklist — plus how to check if refinancing could save you money every month.
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Why this matters
UnionBank is one of the Philippines' most digitally progressive banks, and its housing loan product reflects that — offering competitive fixed rates starting at 7.00% p.a. for a 1-year fixed term, with flexible repayment terms and a straightforward application process. Whether you're buying a ready-for-occupancy unit, financing a renovation, or exploring a home equity loan, UnionBank caters to a wide range of borrowers including private and government employees, BPO workers, OFWs, seafarers, self-employed professionals, and more. The minimum monthly income requirement is ₱30,000, and your total debt obligations should not exceed 50% of your gross monthly income. For a full breakdown of what documents you'll need to prepare, see the UnionBank housing loan documents and eligibility guide.
If you already have an existing home loan — whether with UnionBank or another bank — it's worth checking whether you're still on a competitive rate. Many Filipino homeowners are paying between 8% and 10% p.a. after their initial fixed period expires, when their loan reverts to a variable or repriced rate. Through Nook, you can refinance your home loan to as low as 5.99% p.a. at no cost to you. Nook's service is 100% free for borrowers — we're paid by the banks, not by you. You can also explore UnionBank refinancing options through Nook if you want to see what a lower rate could mean for your monthly budget.
Whether you're a first-time applicant or a seasoned property owner reviewing your options, understanding the full requirements upfront saves time and avoids surprises. Nook's mortgage specialists can help you compare UnionBank's current offering against other partner banks — so you can make a confident, informed decision. Note that interest rates are subject to change; always verify the latest rates directly with the bank or through a licensed broker like Nook before submitting your application.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
UnionBank requires a minimum gross monthly income of ₱30,000 for housing loan applicants. This applies to employed individuals, self-employed professionals, and OFWs alike, though documentation requirements will differ by employment type. Your total monthly debt obligations — including the proposed housing loan — must not exceed 50% of your gross monthly income.
UnionBank accepts a broad range of employment types, including private employees, government workers, BPO staff, OFWs, seafarers, self-employed individuals, and licensed professionals. This makes it one of the more inclusive banks in the Philippines for housing loan applicants. If you're unsure which category applies to you, Nook's team can help you determine the right documentation to prepare.
UnionBank's housing loan can be used for a wide range of purposes, including purchase of ready-for-occupancy (RFO) and pre-selling properties, reselling of existing homes, new construction, renovation, home equity, and acquisition of foreclosed properties. This flexibility makes it suitable for both new buyers and existing homeowners looking to leverage their property's value.
UnionBank currently offers a fixed rate of 7.00% p.a. for a 1-year fixed term on both standard housing loans and home equity loans. After the fixed period, the rate is subject to repricing based on prevailing market conditions. Interest rates are subject to change, so it's best to verify the latest rates with UnionBank directly or through Nook before applying.
Yes — if you have an existing home loan with any bank and want to explore refinancing to UnionBank or another Nook partner bank, Nook can help you compare your options for free. Refinancing through Nook costs you nothing; our broker fee is covered by the bank. With rates available from as low as 5.99% p.a., many borrowers find they can significantly reduce their monthly repayments.
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