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Nobody needs to tell you that to buy a home in the Philippines, you must really have patience. Sure, you may have the ability to pay for the house and lot or condo in full, but financing schemes enable you to utilize that lump sum elsewhere. Bank financing is great for this, but there are always a few roadblocks you might want to prepare for.

It can be a very tedious task, especially if you do it alone. When it comes to home loans, tracking documents and approval from banks are usually where the bottleneck is. The amount of paperwork can be overwhelming, especially if you’re juggling a job and family life back home. For most people, this can mean delaying their property goals for a few years.

But it could be way easier. We’ll walk you through it below.

READ: Home Loans Offered by Philippine Banks in 2021

A Quick Intro

As long as you’re eligible, you may take out a home loan for the purchase of a house and lot, vacant lot, townhouse, apartment, condominium unit. You may also get a loan for the financing of the construction or renovation of a property.  Home loans may also be used to refinance existing loans or reimburse acquisition costs. 

There are two types of home loans: the conventional home loan and the flexible home loan. 

The former allows borrowers to make fixed payments over the course of a particular period of time. These may last for up to 20 years and can be had for a minimum amount of ₱500,000. Meanwhile, the latter is a type of loan connected with a banking account. The existing account owner affects the interest rate charged through depositing payments and/or beginning principal repayment.

Yes, It Can Be This Simple

Sure, in terms of the process, home financing with Ohmyhome isn’t all that different per se. You’ll be submitting the same requirements, after all. But having someone to assist you is the convenience you never knew you needed. And we do it minus any extra costs.

Book a free consultation and you get a dedicated relationship manager to talk to you about your decision to buy real estate. Whether you want to reside in Quezon City or reside in Rizal, you should be transparent about your needs and goals. After that, we’ll be matching you with an agent. This applies to refinancing existing loans, as well.

From there, our super agents will provide you with your best financing options and shortlist a few loan products, together with rates and terms, that should be suitable for your situation. Choose a product and you can get the ball rolling by submitting your documents.

Housing Loan Terms and Amounts

BankMaximum loan termsMinimum loan amountMaximum loan amountLoan calculator
Bank of the Philippine Islands (BPI)25 years (House and Lot)₱400,00070% of the appraised value of house and lotor80% of the appraised value of house & lot not to exceed P5M (provided applicant is employed and purpose is for owner occupancy)https://www.bpihousingloans.com/pages?page=bpi-family-housing-loan-calculator-terms-and-conditions 
Security Bank20 years₱1,000,000Up to 80% of the property’s appraised valuehttps://www.securitybank.com/personal/loans/home-loan-housing-mortgage/ 
*These are indicative figures only and actual interest rates will be the prevailing rates during the time of loan availment.

Ohmyhome agents will then track and coordinate your bank financing application for you. They have direct contact with representatives from our trusted banking partners, which include Security Bank and BPI, among others. This means that you won’t have to go through the trouble of countless follow-ups and checking. You even get a 90-day guarantee from us!


Think about it this way: With all the other moving parts in your life, between addressing your family’s day-to-day needs and maintaining focus and productivity at work, buying a home and handling the paperwork can easily get lost in the shuffle. Our mortgage services offer each client a faster, smoother property investment transaction. In the end, it’s more about helping yourself achieve your property goals without the headache. Let us deal with it for you.

Book a free consultation with an Ohmyhome property agent today to get started! For more information on the best and latest property listings nationwide and how our Ohmyhome’s online ecosystem helps investors like you, visit Ohmyhome.com or download the official Ohmyhome app.

Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.Stay connected with Ohmyhome Philippines by following our official Facebook, Instagram, and LinkedIn accounts.

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