What Documents Do I Need to Refinance My Home Loan in Philippines?

Every lender in the Philippines will require you to prove your identity and residency. The standard personal documents for a home loan refinance application include:

• Two valid government-issued IDs — acceptable IDs include your Philippine passport, SSS/GSIS card, driver's license, PRC ID, Voter's ID, PhilHealth card, or postal ID. Both primary and secondary IDs may be accepted depending on the bank.
• PSA-issued Birth Certificate — required to verify your full legal name and civil status.
• PSA-issued Marriage Certificate — if you are married, both you and your spouse are typically required to be co-borrowers, so your spouse's IDs and birth certificate will also be needed.
• Certificate of No Marriage (CENOMAR) — if you are single, some banks require this to confirm your civil status.
• Accomplished loan application form — provided by the bank or lender you are applying to.
• Recent 1x1 or 2x2 ID photos — usually two copies, depending on the bank's requirements.

Having certified true copies of these documents is recommended, as some banks will not accept plain photocopies.

Lenders need to verify that you have a stable income sufficient to service the refinanced loan. The documents required differ depending on whether you are employed or self-employed.

For salaried employees:

• Certificate of Employment (COE) — must be recent (typically within the last 3 months) and indicate your position, length of service, and monthly salary.
• Latest 3 months' payslips — showing your gross and net monthly income.
• Income Tax Return (ITR) for the last 2 years — BIR Form 2316 (employer-stamped and signed) is accepted for employees; some banks accept this in lieu of a formal ITR filing.
• Latest 3 to 6 months' bank statements — from the account where your salary is credited, to confirm regular income deposits.

For OFWs (Overseas Filipino Workers):

• Proof of overseas employment (employment contract, POEA-verified contract, or company ID)
• Latest 3 months' payslips or proof of remittance
• Special Power of Attorney (SPA) if applying through a local representative
• Passport with valid visa stamp

Maintaining a healthy, consistent bank statement is one of the most important steps you can take before applying, as it gives lenders confidence in your repayment ability.

Since the property serves as the collateral for your refinanced loan, lenders will conduct thorough due diligence on its legal status and value. The typical property documents required include:

• Original Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) — your lender will typically hold the original title as collateral once the loan is approved. You will need to request this from your current lender as part of the refinancing process.
• Certified true copy of the title — obtained from the Registry of Deeds, usually valid for 6 months.
• Tax Declaration — for both the land and the building/improvement, issued by the local assessor's office.
• Latest Real Property Tax (RPT) receipt — proof that real estate taxes are current and up to date.
• Lot plan or vicinity map — a blueprint or survey plan of the property.
• Building or house floor plan — for house-and-lot properties.
• Deed of Absolute Sale or Contract to Sell — the original purchase agreement from when you bought the property.

If your property is a condominium, you may also need a copy of the master deed of declaration and the project's Certificate of Registration from HLURB/DHSUD. For a detailed walkthrough of condo-specific requirements, see our guide on how to refinance your condo loan in BGC.

Self-employed individuals and business owners face a slightly more extensive documentation process because their income is not as straightforward to verify as a salaried employee's. Banks want to see that your business is profitable and your income is sustainable over the loan term.

Business documents typically required:

• DTI Certificate of Business Registration (for sole proprietors) or SEC Certificate of Incorporation (for corporations and partnerships)
• Business Permit / Mayor's Permit — current year's permit showing active business operations
• Articles of Incorporation and By-Laws (for corporations)
• Latest General Information Sheet (GIS) — for corporations, filed with the SEC

Financial documents typically required:

• Audited Financial Statements (AFS) for the last 2–3 years — prepared and signed by a licensed CPA
• ITR for the last 2–3 years — with BIR stamp confirming filing and payment
• Latest 6 months' bank statements — both personal and business accounts
• List of trade references — some banks may request proof of major clients or contracts

Banks typically want to see at least 2 years of consistent business operations and profitability before approving a refinance for a self-employed borrower. If your financials show some inconsistencies, it's worth talking to a Nook specialist who can match you with the most suitable lender for your profile.

To close out your existing loan and transfer it to the new lender, your new bank will require documents that confirm the current status of your mortgage. You'll need to request these directly from your existing lender — and this step is one borrowers frequently overlook until it causes delays.

Key documents to request from your current lender:

• Statement of Account (SOA) — showing your outstanding loan balance, interest breakdown, penalties (if any), and the redemption amount (how much is needed to fully pay off the loan). Request the most recent version, as this is time-sensitive.
• Mortgage Redemption Value or Payoff Quote — the exact amount the new lender needs to remit to your existing bank to discharge the mortgage.
• Original Transfer Certificate of Title (TCT) / CCT — your current lender holds this. The title will be released to the new lender upon full settlement of your existing loan.
• Loan Account Number and amortization schedule — useful for the new lender to validate your repayment history.
• Cancellation of mortgage or release of REM (Real Estate Mortgage) — your existing bank will process this once the loan is fully paid. The new bank will then register their own mortgage lien on the property.

Note that some banks charge a processing fee or prepayment penalty for early loan termination, so factor this into your refinancing cost calculation.

Yes — almost all lenders will require an updated appraisal of your property before approving a refinance. The appraisal determines the current market value of your home, which directly affects how much the bank is willing to lend you (typically 60%–80% of the appraised value, known as the Loan-to-Value ratio or LTV).

Here's what you need to know about the appraisal process:

• Who conducts it? The bank will usually appoint their own accredited appraiser. You generally cannot submit a third-party appraisal you commissioned yourself, though some lenders may accept recent independent appraisals as a reference.
• Who pays for it? The borrower typically pays the appraisal fee, which ranges from approximately 3,000 to 6,000 pesos for a residential property, depending on the bank and property location.
• How long does it take? The appraisal visit itself is usually scheduled within 1–2 weeks of application, and the formal report is issued within another 1–2 weeks.
• What affects the appraised value? Location, property condition, comparable sales in the area, and improvements made to the home all influence the appraisal outcome.

If your property has appreciated significantly since you first bought it, this can work in your favor — a higher appraised value may allow you to borrow more or qualify for better rates.

Refinancing from a Pag-IBIG (HDMF) loan to a private bank is one of the most common refinancing scenarios in the Philippines — and for good reason, since private bank rates can be significantly lower. However, Pag-IBIG loans come with some unique documentation requirements during the refinancing process.

Additional documents specific to Pag-IBIG refinancing:

• Pag-IBIG Member's Data Record (MDR) — confirming your Pag-IBIG membership and contribution history.
• Pag-IBIG Loan Account Number (LAN) — the reference number for your existing housing loan.
• Official Statement of Account from Pag-IBIG — you can request this at any Pag-IBIG branch or via their Virtual Pag-IBIG portal. This document shows your outstanding balance and redemption value.
• Updated Pag-IBIG MRI (Mortgage Redemption Insurance) status — some private banks will ask for this to understand your existing coverage.
• Loan history or amortization record — showing your payment track record with Pag-IBIG.

One important note: Pag-IBIG does not charge prepayment penalties for early loan settlement, which makes refinancing from Pag-IBIG to a private bank relatively clean from a cost perspective. To learn more about how this works, read our detailed guide on refinancing your Pag-IBIG home loan to a private bank.

Document preparation is often the longest part of the refinancing process, and the timeline varies depending on your employment status and how quickly third parties respond to your requests. Here's a realistic breakdown:

• Personal documents (IDs, PSA certificates): 1–2 weeks if you need to request PSA documents online or at a PSA outlet. If you already have them on hand, this is immediate.
• Income documents (COE, payslips, ITR): 3–5 business days from your HR department for the COE and payslips. ITR (BIR Form 2316) should already be on file from your employer.
• Bank statements: Immediately available if you use online banking; 3–5 business days if requested from a branch.
• Property documents (title, tax declaration, RPT): A certified true copy of the title from the Registry of Deeds can take 3–7 business days. Tax declaration from the local assessor may take a similar amount of time.
• Documents from your current lender (SOA, redemption value): 3–10 business days depending on your bank's processing time. Follow up proactively.
• For self-employed borrowers (AFS, ITR, business permits): AFS preparation by your CPA can take 1–3 weeks if not already done.

Total realistic timeline: Most borrowers can have a complete document pack ready within 2–4 weeks if they start gathering everything simultaneously. Working with Nook means you have a dedicated specialist helping you track down and compile documents efficiently.

Missing documents are one of the most common reasons refinancing applications get delayed or rejected. Here's how to handle common scenarios:

• Missing ITR: If you haven't filed an ITR (common for employees whose employers file on their behalf), a BIR Form 2316 signed by your employer is accepted by most banks as a substitute. Some banks may also accept a notarized sworn declaration of income for informal income earners.
• Lost PSA documents: You can request certified copies of your Birth Certificate and Marriage Certificate online through the PSA Serbilis portal or at any PSA outlet nationwide. Turnaround is typically 1–2 weeks.
• Original title held by another party: If the title is still held by a developer or former lender, coordinate with them early. Banks are familiar with this scenario and will guide you through the process of retrieving the title as part of loan takeover.
• No formal payslips (for freelancers or contract workers): Some banks may accept a notarized income statement, a letter from a major client, or consistent bank deposits as alternative proof of income. This varies by lender.
• Expired documents: Ensure your business permits, COE, and bank statements are current. Banks typically want documents dated within the last 3–6 months.

The good news is that different banks have different flexibility levels when it comes to documentation. Nook works with multiple lenders, which means if one bank requires a document you can't easily provide, we can explore alternative lenders who may be more accommodating — without starting the process from scratch.

Yes — and this is one of the biggest advantages of using Nook over applying to banks directly on your own. Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers.

Here's how Nook helps with document preparation:

• Personalized document checklist: Based on your employment status, property type, and current lender, your Nook specialist will give you a tailored list of exactly what you need — no guessing.
• Document review before submission: We review your documents before they go to any bank, flagging potential issues early so you're not surprised by a rejection later.
• Multi-bank submission: Once your documents are ready, Nook submits them to multiple lenders simultaneously, so you can compare offers from banks like BDO, BPI, Security Bank, Metrobank, RCBC, and others — with one document pack.
• Follow-up and coordination: We liaise with banks on your behalf, following up on appraisal schedules, conditional approvals, and missing requirements so you don't have to.
• End-to-end guidance: From document gathering to loan takeout, Nook is with you at every step.

With the best refinance rate currently available through Nook at 5.99% p.a. — compared to the 7%–10% many homeowners are currently paying — the savings potential is substantial. Getting your documents right is the first step to unlocking those savings. Start your free refinancing assessment with Nook today.