{"componentChunkName":"component---src-templates-pursuit-of-passion-pursuit-of-passion-tsx","path":"/pursuit-of-passion/getting-a-house-loan-in-the-philippines/","result":{"data":{"pursuitOfPassionData":{"seoTitle":"Getting a House Loan in the Philippines | Blogs | Avida Land","seoDescription":"Housing loans are essential financial tools whether you are planning to buy, build, or improve your house. This comprehensive guide covers everything you need to know about housing loans in the Philippines.","title":"Getting a House Loan in the Philippines","subtitle":"Getting a House Loan in the Philippines | Avida Land","category":"finance","featuredImage":"https://rbgcms-alb-prod.ayalaland.com/content/uploads/images/1748919735772-490708-v2rlldmo7jm.jpg","optimizedFeaturedImg":{"childImageSharp":{"gatsbyImageData":{"layout":"constrained","backgroundColor":"#e8e8e8","images":{"fallback":{"src":"/static/fee0919249dbd50adae8c83443e39ed5/acbfc/1748919735772-490708-v2rlldmo7jm.webp","srcSet":"/static/fee0919249dbd50adae8c83443e39ed5/b4a05/1748919735772-490708-v2rlldmo7jm.webp 625w,\n/static/fee0919249dbd50adae8c83443e39ed5/8efef/1748919735772-490708-v2rlldmo7jm.webp 1250w,\n/static/fee0919249dbd50adae8c83443e39ed5/acbfc/1748919735772-490708-v2rlldmo7jm.webp 2500w","sizes":"(min-width: 2500px) 2500px, 100vw"},"sources":[]},"width":2500,"height":1667}}},"videoLink":"","slug":"getting-a-house-loan-in-the-philippines","datePublished":"April 24, 2025","shortDescription":"Housing loans are essential financial tools whether you are planning to buy, build, or improve your house. This comprehensive guide covers everything you need to know about housing loans in the Philippines.","homeBanner":null,"contents":[{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"","description1":null,"description2":null,"description":"<p>Owning a house often ranks high on the dream list of many Filipinos and is usually the biggest purchase they will make in their lives.&nbsp; For this reason, many choose to finance their homeownership dream through a housing loan.&nbsp; Housing loans are essential financial tools whether you are planning to buy, build, or improve your house. This comprehensive guide covers everything you need to know about housing loans in the Philippines.</p>","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component9","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"What is a Housing Loan?","description1":null,"description2":null,"description":"<p>A housing loan is a type of loan specifically designed to help individuals finance any of the following</p><ul><li>Purchase a new home</li><li>Construction of new home</li><li>Renovation of existing home</li></ul><p>If you avail of home loans in the Philippines, you will receive a lump sum of money from the lender, typically a bank or other types of lending institutions, which you then have to repay over a set period of time through regular installment payment.&nbsp; Installment payments are usually made monthly and cover both interest and a portion of the principal amount.&nbsp; Note that during the duration of the home loan, the lender holds the property title up until you fully pay off the loan.&nbsp;</p><p>One of the major providers of home loans in the Philippines that you can rely on are the banking institutions in the country through their bank housing loans.&nbsp;</p><ul><li><strong>Bank Housing Loans </strong>– This type of loan is offered by major banks in the Philippines.&nbsp; Some key benefits of bank housing loans include:<ul><li><i>Higher Loanable Amount: Banks may offer larger loan amounts versus other lenders, which is beneficial for purchasing higher-value properties.</i></li><li><i>Quicker processing: Most banks have streamlined their loan processes, resulting to faster application approvals.</i></li><li><i>Competitive interest rates:&nbsp; Many of the major banks offer not only attractive interest rates but also interest rates options.&nbsp; You may choose either paying fixed interest rates wherein your interest rate on the loan won’t change for a specific time period, or choose variable interest rates where interest rates may change over time.&nbsp; Note that variable interest rates are often linked to an index or benchmark, which means borrowers may benefit from rate reduction if the market rate of those benchmarks falls.</i></li></ul></li></ul>","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component5","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"What are the essential elements of Housing Loan? ","description1":null,"description2":null,"description":"<p>When choosing a housing loan option in the Philippines, familiarize yourself with the following items so you can make an informed decision before getting started with your housing loan journey.</p><ul><li><strong>Loan amount</strong> – the total sum of money borrowed from the lender.&nbsp;Typically, home loans in the Philippines will approve up to 80% of the appraised value of your property.&nbsp; Let’s say your property’s appraisal value is P10,000,000, expect a loanable amount of up to P8,000,000.</li><li><strong>Interest rate</strong> – this is the cost of borrowing money expressed in percentage value of the borrowed sum of money.&nbsp; Interest rates can be fixed or variable and can vary from lender to lender.&nbsp; It is advisable to explore and shop around rather than committing to the first one available.&nbsp;</li><li><strong>Monthly Installments/Amortization</strong> – this is the regular monthly payment you will make once you have been approved for a housing loan.&nbsp; &nbsp;This includes both principal and interest payments.</li><li><strong>Term/Repayment Term&nbsp;</strong>– this the length of time over which the loan will be repaid.&nbsp; This can range from 10 years to 30 years.</li></ul>","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component5","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"What should I know about applying for a Housing Loan in the Philippines?","description1":null,"description2":null,"description":"<ul><li><strong>Lenders’ will assess your eligibility for a loan</strong> – Normally, lenders will take into account your income, age, employment status, and credit history before making a decision whether they will grant you with a loan or not.</li><li><strong>Documents</strong> – Lenders will ask you to submit documents to help assess your creditworthiness.&nbsp; Prepare the necessary documents such as proof of income, employment records, valid ID, proof of residence, etc.</li><li><strong>Loan proceeds and repayment</strong> – Once approved for the loan, the lender will either send the loan proceeds directly to the property developer or to your account.&nbsp; It is very important that you repay your loan amortization on or before your due date to avoid penalties and jeopardizing your credit worthiness.</li></ul>","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component5","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"FINAL THOUGHTS","description1":null,"description2":null,"description":"<p>Owning a home can be one of the most gratifying events in your life and carefully choosing the financing option to fund your purchase will make homeownership more enjoyable.&nbsp; To greatly improve your chances of getting a great home loan deal, consider these tips:</p><ul><li><strong>Save! Save! Save! </strong>– Housing loans in the Philippines will not fund all the cost that you need to own a home.&nbsp; Save for the downpayment usually between 10 to 20%.&nbsp;Save for other application fees such as processing fees, notary fees, taxes, etc.</li><li><strong>Beef up your credit history</strong> – Paying off debts on time such as credit cards and other loans will positively impact your credit worthiness.</li><li><strong>Research</strong> – Do not settle with the first lender who’ll offer you an application form.&nbsp; Shop around and compare their rates, terms and offer.</li><li><strong>Consult</strong> – You may seek the help of a Registered Financial Planner to help you in navigating the qualitative and quantitative aspects of a home loan.&nbsp; They can assist you in comparing options and directing you with a lender that best suits your current financial situation.</li></ul>","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component5","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"","description1":null,"description2":null,"description":"<p>Visit an Avida unit today and find out their pre-selling terms and financing options you can avail when you purchase a condo unit at<strong> </strong><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://www.avidaland.com/properties/condominium/centralis-towers/\"><strong>Centralis Tower</strong></a> on Taft Avenue, <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://www.avidaland.com/properties/condominium/patio-madrigal/\"><strong>Patio Madrigal</strong></a><strong> </strong>on Roxas Boulevard, or a house and lot in<strong> </strong><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https://www.avidaland.com/properties/house-and-lot/avida-settings-greendale-alviera/\"><strong>Alviera, Pampanga</strong></a><strong>.</strong></p><p><i>Jesi Bondoc is a Registered Financial Planner and Certified Investment Solicitor. He is also an entrepreneur in the field of F&amp;B, construction, fitness and tech.&nbsp; You can send your money questions at&nbsp;</i><a href=\"mailto:jesi.rfp@gmail.com\"><i>jesi.rfp@gmail.com</i></a></p>","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component9","video":null}],"tags":["Avida","Properties"]},"recentArticles":{"nodes":[{"id":"9f566257-1cbc-52e9-9a33-b37fadedefd4","title":"Avida Towers Verge: Designed for the Young Professionals of Today","slug":"avida-towers-verge-designed-for-the-young-professionals-of-today","category":"people","datePublished":"October 11, 2025","featuredImage":"https://rbgcms-alb-prod.ayalaland.com/content/uploads/images/1761144341050-7998978-yjj3h88mwva.jpg","optimizedFeaturedImg":{"childImageSharp":{"gatsbyImageData":{"layout":"constrained","backgroundColor":"#c8d8e8","images":{"fallback":{"src":"/static/d163c686ce02fabad81633bf83c12dc5/d5aed/1761144341050-7998978-yjj3h88mwva.webp","srcSet":"/static/d163c686ce02fabad81633bf83c12dc5/df859/1761144341050-7998978-yjj3h88mwva.webp 1752w,\n/static/d163c686ce02fabad81633bf83c12dc5/0042d/1761144341050-7998978-yjj3h88mwva.webp 3504w,\n/static/d163c686ce02fabad81633bf83c12dc5/d5aed/1761144341050-7998978-yjj3h88mwva.webp 7008w","sizes":"(min-width: 7008px) 7008px, 100vw"},"sources":[]},"width":7008,"height":4672}}}},{"id":"884cdfee-e800-544b-aa87-e23dd3682113","title":"Safe at Home: A Closer Look at Avida’s Earthquake-Resilient Developments ","slug":"safe-at-home-a-closer-look-at-avidas-earthquake-resilient-developments","category":"home & design","datePublished":"October 20, 2025","featuredImage":"https://rbgcms-alb-prod.ayalaland.com/content/uploads/images/1760951655655-1754941-2h7s50c3375.jpg","optimizedFeaturedImg":{"childImageSharp":{"gatsbyImageData":{"layout":"constrained","backgroundColor":"#88a8c8","images":{"fallback":{"src":"/static/2b07977bd4a8a72424b079c95d1dd751/933c8/1760951655655-1754941-2h7s50c3375.webp","srcSet":"/static/2b07977bd4a8a72424b079c95d1dd751/b4c1c/1760951655655-1754941-2h7s50c3375.webp 1320w,\n/static/2b07977bd4a8a72424b079c95d1dd751/9ed85/1760951655655-1754941-2h7s50c3375.webp 2640w,\n/static/2b07977bd4a8a72424b079c95d1dd751/933c8/1760951655655-1754941-2h7s50c3375.webp 5280w","sizes":"(min-width: 5280px) 5280px, 100vw"},"sources":[]},"width":5280,"height":2970}}}},{"id":"7a1c99ea-af45-5029-8310-2b4bc7d4d7e2","title":"The Essential Things | Avida Towers Cloverleaf ","slug":"the-essential-things-avida-towers-cloverleaf","category":"people","datePublished":"September 10, 2025","featuredImage":"https://rbgcms-alb-prod.ayalaland.com/content/uploads/images/1757467788126-978043-wm23d2fosor.jpg","optimizedFeaturedImg":{"childImageSharp":{"gatsbyImageData":{"layout":"constrained","backgroundColor":"#58a858","images":{"fallback":{"src":"/static/fcd557e256aec4cf32d8299b1e34cb73/a2e54/1757467788126-978043-wm23d2fosor.webp","srcSet":"/static/fcd557e256aec4cf32d8299b1e34cb73/074d3/1757467788126-978043-wm23d2fosor.webp 1240w,\n/static/fcd557e256aec4cf32d8299b1e34cb73/332a0/1757467788126-978043-wm23d2fosor.webp 2481w,\n/static/fcd557e256aec4cf32d8299b1e34cb73/a2e54/1757467788126-978043-wm23d2fosor.webp 4961w","sizes":"(min-width: 4961px) 4961px, 100vw"},"sources":[]},"width":4961,"height":3304}}}}]}},"pageContext":{"id":"67cc1140-161d-59ca-bb9f-627ddb4fd40c","next":{"slug":"four-ways-to-fix-your-financial-fundamentals","title":"Four Ways to Fix Your Financial Fundamentals","category":"finance"},"previous":{"slug":"wanting-to-be-a-young-homeowner-heres-what-you-should-do","title":"Wanting to be a Young Homeowner? 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