Requirements for a housing loan in the Philippines.

Owning your own home is one of the biggest goals for Filipino families, and the application process is far more approachable once you understand what each bank is actually checking. Below is every requirement you'll typically face when applying for a housing loan in the Philippines — and where Nook steps in to make it effortless.

1. Age and citizenship

Most banks require borrowers to be at least 21 years old to apply and no older than 65 at the time the loan matures. You'll usually need to be a Filipino citizen; foreign nationals may need to meet additional requirements or use specific loan programs. A growing number of Overseas Filipino Workers (OFWs) apply successfully too — they often have strong financial profiles, but need extra documentation to prove their income is stable, which Nook helps them put together.

2. Income and employment

Lenders want confidence that you can comfortably repay the loan. Expect to provide proof of income — recent payslips, your income tax return (ITR), or audited financial statements if you're self-employed. Most banks prefer borrowers with at least two years of employment history and at least one year in their current job. Minimum income varies, but a gross monthly income of around ₱30,000 to ₱50,000 is common. Increasingly, banks will also consider alternative income such as freelance work or rental income, provided you can document it solidly.

3. Credit history

Your credit history plays a major role. A good credit score shows you manage debt responsibly, and lenders will scan your credit report for red flags like defaults or late payments. If you're unsure where you stand, you can request your report from the Credit Information Corporation (CIC). A smart move is to check it several months before applying — that gives you time to settle any outstanding credit card issues (and keep the proof of settlement) and potentially lift your score before the bank looks.

4. Down payment

Most housing loans require a down payment of 10% to 20% of the property's value, with the bank financing the rest. Saving for it takes discipline — many buyers set up automatic transfers to a separate account each payday. An easier route for many is to use the rent-to-own and staggered down payment plans offered by most property developers, which let you spread the down payment over an extended period, typically two to five years.

5. Property-related requirements

The property itself also has to qualify. The bank will conduct an appraisal to determine its market value, and you'll need to supply property documents such as the title, tax declaration and building plans. Valuations have become more stringent in recent years, especially on re-sale properties, as banks make sure each loan is adequately secured.

6. Legal documents

To complete your application you'll typically submit valid government-issued IDs (such as a passport, driver's license or UMID), a marriage certificate or CENOMAR, and proof of billing or residence. These confirm your identity, civil status and address.

7. Loan-specific requirements

Depending on the property and loan type, extra documents apply. For pre-selling properties you'll need a Contract to Sell and the developer's License to Sell. For refinancing or a loan takeout, you'll need the original Transfer Certificate of Title (TCT). For construction loans, expect to provide building permits, a bill of materials and a construction timeline.

How Nook makes meeting them simple

Every document above exists to paint a clear picture of your financial health — but you don't have to assemble it alone or learn the bank's process. As the Philippines' original and award-winning mortgage broker, Nook compares 20+ banks to find the lender most likely to approve you, then a dedicated loan consultant gathers your requirements, fills in the bank forms, and chases the lender end to end. You never deal with a bank directly, and because the banks pay Nook a commission once your loan is released, it's 100% free to you.