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

All Philippine banks require at least two valid government-issued IDs for a refinancing application. Accepted IDs typically include a passport, driver's license, SSS/GSIS card, PRC ID, PhilSys National ID, UMID, TIN card, voter's ID, or postal ID. You will generally need to submit photocopies plus present the originals for verification.

In addition to IDs, most banks will ask for:

• Accomplished application form — provided by the bank you are refinancing to
• Proof of billing or residence — a utility bill (electricity, water, or internet) dated within the last three months showing your current address
• Marriage certificate — required if the property is co-owned with a spouse, or if you have changed your name
• Birth certificate — occasionally required to confirm age and civil status

Make sure all IDs are valid and not expired. If your name on your ID differs from your title documents, prepare a supporting document (e.g., marriage certificate or court order) to explain the discrepancy.

If you are employed by a company, banks want to verify that you have a stable, sufficient income to service the new loan. The standard documents required are:

• Certificate of Employment (COE) — dated within the last 30 to 90 days, stating your position, employment status (regular/permanent), and monthly salary. Some banks also require it to state your length of service.
• Latest one to three months' payslips — to confirm your take-home pay and any allowances or bonuses
• Income Tax Return (ITR) — BIR Form 2316 or 1700 — for the most recent taxable year, stamped received by the BIR or your employer (for BIR Form 2316)
• Latest three to six months' bank statements — showing your salary credits and overall cash flow. Banks use this to cross-check your declared income.

If you earn additional income (e.g., rental income, freelance work, or a side business), bring supporting documents for those as well, as they can strengthen your debt-to-income ratio and improve your loan eligibility.

Self-employed applicants and business owners face a more detailed income verification process because their earnings are less predictable. You will typically need to prepare:

• Business Registration Documents — DTI Certificate of Business Registration (for sole proprietors), SEC Registration (for corporations or partnerships), or Cooperative Registration as applicable
• BIR Certificate of Registration (Form 2303)
• Audited Financial Statements (AFS) — for the last two to three years, stamped received by the BIR. Banks use this to assess business profitability and stability.
• ITR (BIR Form 1701 or 1702) — for the last two years, stamped received by the BIR
• Latest six months' bank statements — both personal and business accounts, to show actual cash flow
• Business permits and Mayor's Permit — for the current year
• List of clients or contracts (optional but helpful) — particularly for freelancers or consultants, to show ongoing income sources

The stronger and more consistent your financial statements, the better your chances of getting approved at a competitive rate. Banks may also ask for the last 12 months of bank statements if your AFS shows irregular income.

Property documents are at the heart of any refinancing application. The new bank needs to confirm that the property exists, is legally yours, and has sufficient value to serve as collateral. Required documents typically include:

• Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) — a certified true copy from the Registry of Deeds. This is the most critical document and must be free of adverse annotations (other than the existing mortgage).
• Latest Tax Declaration — for both land and building/improvement, issued by the City or Municipal Assessor's Office
• Real Property Tax (RPT) receipts — showing that real estate taxes are paid and up to date (latest official receipt)
• Vicinity map and lot plan — sometimes required by the bank or appraiser to locate the property
• Copy of the original Contract to Sell or Deed of Absolute Sale — to establish the purchase history and original price of the property

If your property is a condominium, you will need to present a CCT instead of a TCT. You may also need to show your Association Dues payment receipts to prove the unit is in good standing with the homeowners' or condominium association.

The new bank needs to understand the terms of the loan you are refinancing out of in order to structure the new loan and coordinate the payoff. You will need to provide:

• Loan Statements or Amortization Schedule — showing your current outstanding balance, monthly payment, and remaining term
• Statement of Account (SOA) or Billing Statement — the most recent statement from your current bank or lender, usually dated within 30 to 60 days
• Loan Payoff Computation — a formal letter from your current bank stating the exact amount needed to fully settle the loan as of a specific date. Some banks call this a Loan Redemption Value or payoff quote.
• Original Loan Agreement or Mortgage documents — not always required, but some banks ask for a copy to review the terms
• Proof of Consistent Payments — your bank statements or payment history showing that you have been paying on time. Good payment history strengthens your application significantly.

If you are refinancing from Pag-IBIG, you'll also need your Pag-IBIG member ID and account number. Pag-IBIG has its own process for releasing the title once the loan is settled, so factor in additional processing time.

Yes, a property appraisal is almost always required for home loan refinancing in the Philippines. The new bank needs an independent assessment of your property's current market value to determine how much they are willing to lend and to confirm that the loan-to-value (LTV) ratio is within their acceptable limits — typically 70% to 80% of the appraised value.

In most cases, the bank arranges the appraisal themselves through their accredited appraisers. You do not need to source the appraiser yourself. However, you will generally be charged an appraisal fee, which typically ranges from 3,000 to 6,000 pesos depending on the bank and the location of the property. This fee is usually paid upfront before the appraisal is conducted.

You can prepare for the appraisal by ensuring:

• The property is accessible on the scheduled appraisal date
• You have the property documents (TCT/CCT, Tax Declaration) on hand for the appraiser
• Any improvements or renovations are documented, as these may increase the appraised value

The appraisal result also affects whether you can consolidate other debts or take out additional cash-out if the property has appreciated in value since your original purchase.

Document gathering is often the part of refinancing that takes the most time — and the part most borrowers underestimate. Here is a realistic timeline for each document type:

• Government IDs and personal documents — 1 to 3 days if you already have them; longer if replacements are needed
• Certificate of Employment and payslips — typically 1 to 5 business days from your HR department
• ITR (BIR 2316 or 1700) — if you don't have a copy, request it from your employer or the BIR; allow 3 to 7 business days
• Certified True Copy of TCT/CCT from the Registry of Deeds — typically 1 to 2 weeks; this is often the biggest bottleneck
• Latest Tax Declaration from the Assessor's Office — 1 to 5 business days, depending on the local government unit
• Loan payoff computation from your current bank — 3 to 7 business days after formal request
• Bank statements — usually available immediately through online banking or 2 to 5 days if requested from the branch

In total, plan for at least two to four weeks to gather a complete set of documents, especially if the Registry of Deeds in your area has a backlog. Starting this process early — before you even formally choose a new bank — is strongly recommended.

The core requirements are very similar, but there are a few key differences when refinancing a condominium unit:

• CCT instead of TCT — condominium units are covered by a Condominium Certificate of Title (CCT) rather than a Transfer Certificate of Title (TCT)
• Association Dues clearance — banks often require proof that your monthly association dues are paid up to date. This is usually a clearance letter from the condominium management or homeowners' association.
• Master Deed of Restriction — some banks ask for this document, which outlines the terms of the condominium project. Your developer or the condominium association can provide a copy.
• Floor plan of the unit — occasionally requested to confirm unit size and layout for appraisal purposes

If you own a condo in a major urban area like BGC, Makati, or Ortigas, the good news is that properties in these locations tend to appraise well, which can work in your favor during refinancing. You can learn more about the specific process in our complete guide to refinancing a condo loan in BGC.

This is completely normal and one of the most common questions borrowers have. When you took out your original home loan, your bank registered a mortgage annotation on your TCT and is holding the title as collateral. You do not need to physically possess the original TCT to refinance — the new bank will coordinate directly with your existing bank to arrange the transfer of the title and the release of the old mortgage annotation once the loan is settled.

Here is how the process typically works:

1. You get approved by the new bank and receive a loan offer
2. The new bank issues a check or bank transfer to pay off your outstanding balance with the current bank
3. Your current bank releases the original TCT and issues a Cancellation of Real Estate Mortgage (CREM) document
4. The CREM and new mortgage are then registered at the Registry of Deeds
5. The new bank retains your TCT as collateral under the new loan

For your refinancing application, you will need to submit a Certified True Copy (CTC) of the TCT obtained from the Registry of Deeds — not the original. The CTC serves the same purpose for documentation and appraisal. Your current bank can also sometimes provide a photocopy of the title to help you get started while you request the CTC.

Yes — this is one of the key ways Nook helps Filipino homeowners through the refinancing process. As the Philippines' first digital mortgage broker, Nook provides you with a personalized document checklist based on your specific situation (employed vs. self-employed, condo vs. house-and-lot, Pag-IBIG vs. private bank, etc.) so you know exactly what to gather and in what format each bank requires it.

Nook's team also reviews your documents before submission to catch any issues early — such as expired IDs, missing signatures, or incorrect formats — that could delay your approval. This saves you from the frustration of going back and forth with the bank for weeks.

Most importantly, Nook's service is completely free to borrowers. Nook is compensated by the banks, not by you. This means you get expert guidance and access to the best available rates — currently as low as 5.99% per annum — at no cost. Whether you're refinancing a house and lot, a condo, or even a navigating refinancing with a less-than-perfect credit history, Nook can help you find the right bank and prepare a strong application.