6 banks that offer home loan and their minimum application requirements

Purchasing your dream property requires the right decision-making, from the type of property you want to purchase, to the price, and how you would be able to maintain it. One of the most overwhelming aspects, however, is the price. Purchasing any property would require you to shed a huge amount of money. Given this, many opt to apply for a loan to assist them financially in getting their hands on their dream home.

In the Philippines, several banks offer various kinds of property loans which of course, has different requirements for interested applicants to get qualified. Some of the basic qualifications when applying for a loan in the country are:

  • You must be 21-65 years old upon maturity of the loan
  • You must be working or is self-employed
  • You must have a special power of attorney if you are an OFW, 4) and if you are a foreigner, you must have an issued immigrant/resident visa along with other supporting documents proving that you live in the Philippines.

While the mentioned qualifications above are just the general requirements, banks that offer different kinds of home loans also have different requirements for those who are planning to apply.

To help you decide which bank to apply for and which home loan to get, here are 6 banks that offer home loan plans and their minimum requirements for pre-qualification:

1. BDO


Banco de Oro offers various home loan options which you can choose from whether you are eyeing to purchase a house and lot or townhouse units or is in need of financial assistance for your house renovation and home improvement.

Here are the home loan options offered by BDO:

  • Purchase of House and Lot / Townhouse Uni
  • Purchase of Condominium Unit
  • Purchase of Vacant Lot
  • Construction of House
  • House Renovation / Home Improvement
  • Reimbursement of Acquisition Cost
  • Refinancing / Loan Take-out

The minimum requirements for BDO’s home loan programs are the following:

  • At least 21 years old but not exceeding 70 years old at the end of the loan term
  • Filipino Citizens or Foreign Nationals (Foreign Nationals working, living or residing in the Philippines who are holders of any of the following visa may apply for a BDO Home Loan.)
  • Minimum gross income of P50,000/month or its equivalent in US Dollars
  • With stable source of income from employment or business

2. Landbank

Landbank has three housing and mortgage programs namely Easy Home Loan for buying and constructing your dream home, Developer’s End-Buyers Financing Tie-up which can help you buy or construct your home through an accredited developer, and Bahay para sa Bagong Bayani (3B) which is a special lending program for OFWs.

The minimum requirements for the mentioned loan programs are the following:

  • Filipino citizens
  • OFWs holding a live contract from a reputable company (3B)
  • If an OFW, must be clear of adverse credit finding with other creditors (3B)
  • 21 years old (must not be more than 65 years of age upon loan’s maturity)
  • Borrowers who are either gainfully employed or with lawful and profitable business
  • Employment/business documents

3. Security Bank


Security Bank offers two loan options such as Regular Home Loan and Home Equity Loan which will let you use your home’s value as security for the money you need.

Here are Security Bank’s minimum requirements for their home loan programs:

  • At least 21 years old, but not more than 65 years old upon loan maturity
  • Earning a combined monthly income of P50,000
  • Has been continuously employed for at least 2 years
  • For the self-employed, must be operating a legitimate and profitable business for the last 3 years

4. Robinsons Bank

Robinsons Bank’s home loan program has terms for up to 20 years for locally employed, and up to 15 years for OFW and self-employed applicants.

The minimum requirements for Robinsons Bank’s home loan program are:

  • Duly filled-out and signed application form
  • At least 1 Government Issued ID
  • Marriage Contract ( if applicable )
  • Employment/business documents
  • Collateral documents

5. BPI


BPI has a Family Housing Loan program which is ideal for those interested applicants with conservative buying patterns as the loan package can be customized based on the needs and capabilities of the customer.

Here are BPI’s minimum housing loan requirements:

  • Duly accomplished Application Form
  • 2 valid government issued ID with photo and signature
  • If married, both spouses to sign on the application form
  • If with co-borrower or co-mortgagor, separate application form is needed
  • Income documents
  • Collateral documents

6. Maybank

Maybank offers four home loan program namely Home Acquisition for buying your dream home, Home Construction for those who have their lot and want to build their home, Home Equity where you can use the value of your home for your other expenses, and Home Loan Refinancing where you can borrow up to 70% of the appraised value of your property.

Here are Maybank’s minimum requirements for its loan programs:

  • Housing loan application from (completely filled out)
  • Valid IDs and recent photo of spouses
  • Marriage Certificate (if married) and Death Certificate (if widowed)
  • Age plus the term of the loan should not be more than 65 years old once the loan matures
  • Employed with a reputable company for at least 2 years
  • Foreigners can apply only if the property is a condominium, proof of residency and employment here in the Philippines is required
  • OFWs should have a contract of employment for 2 years, nature of work should fall under Professional and Technical jobs categories
  • Seafarers should be at least officer level, should have been serving for at least 2 continuous years
  • An attorney-in-fact is required for OFWs or seafarer applicants
  • Employment/business documents
  • Collateral documents

Want to get pre-qualified in minutes? Go to AQWIRE Portals and apply for a home loan now!