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Housing Loan Guide · Philippines

Acquisition Loan Requirements for Employed (Local) Borrowers

Buying a property from an individual seller or a developer.

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If you're working full-time for a Philippine-based company, you're in the fastest lane for loan approval. Banks trust local employment income because it's easy to verify — payroll records, BIR forms, and payslips all line up. Most employed applicants clear pre-approval within a couple of weeks, assuming documents are complete and your existing debts don't eat too much into your monthly income. An Acquisition Loan is the loan most Filipinos picture when they think "housing loan" — you're buying a specific property, whether from an individual seller (a resale unit or lot) or directly from a developer (pre-selling or ready-for-occupancy). The bank evaluates both your income and the property itself, since the property becomes the collateral securing the loan. Below is the complete, up-to-date checklist for an Employed (Local) borrower pursuing an Acquisition loan in the Philippines — 8 borrower-side documents plus everything the bank needs on the property side.

Process

Loan Stages

1

Completion of Pre-Approval Requirements

Submit and complete all borrower and loan documents listed above.

2

Conditional Approval

You're confirmed income-qualified and cleared to proceed.

3

Final Approval

The property passes appraisal and title verification.

4

Bank Guaranty Issuance

The bank formally guarantees the loan to the seller or developer.

5

Annotation

The loan is officially annotated on the property's title.

6

Loan Release

Funds are disbursed and the process is complete.

Pre-Approval

Borrower Requirements — Employed (Local)

General Requirements

  • Signed application form
  • 1–2 valid government IDs
  • Proof of billing

Income Requirements

  • Latest Certificate of Employment (with position, hire date, and gross monthly income; issued within 1–3 months)
  • Payslips — latest 3 months
  • Bank statements — latest 6 months (salary-credited account only)
  • Income Tax Return (ITR) / BIR Form 2316 — latest year
  • Authorization for verification (employment, residence, bank account)

Pre-Approval

Loan Requirements — Acquisition

Property Requirements

  • Owner's Duplicate Copy of Title
  • Tax Declaration — land and/or improvement, whichever applies

Transaction Requirements

  • Contract to Sell or Offer to Purchase
  • Statement of Account (if acquiring from the developer)

Bank Requirements

  • Authorization for tax mapping
  • Appraisal fee payment

What Happens Next

Conditional & Final Approval

Conditional Approval

You're confirmed income-qualified.

  • Income stability
  • Bank statements
  • Employment/business verification
  • Debt-to-income ratio
  • Maximum loanable amount

Final Approval

  • Appraisal
  • Collateral verification
  • Title and Tax Declaration checks
  • All pre-approval requirements validated

Income Matching

How Much Can You Actually Borrow?

General Rule

Your monthly amortization should be 50% or below of your monthly income.

GMIR Formula

GMIR = 50% of Monthly Income
Adjusted GMIR = GMIR − Existing Monthly Amortizations
Loan Amount = Adjusted GMIR × (1 − (1 + r/12)⁻ⁿˣ¹²) / (r/12)

Post-Approval

Post-Approval Requirements

Borrower Civil Status

  • Original Certificate of No Marriage (CENOMAR) with Official Receipt
  • OR Copy of Marriage Certificate

Seller Civil Status

  • Original Certificate of No Marriage (CENOMAR) with Official Receipt
  • OR Copy of Marriage Certificate

FAQ

Frequently Asked Questions

Yes. Acquisition loans cover both ready-for-occupancy and pre-selling properties, though the bank will check the developer's accreditation status and the project's completion timeline.

Yes — an Acquisition Loan requires a Contract to Sell or Offer to Purchase for a specific property before the bank can process your application.

Explore More

Other Loan Types for Employed (Local) Borrowers

Construction Loan Take-Out Tie-Up Acqui-Diff Property Equity Loan (PEL)

Acquisition Loans for Other Borrower Types

OFW Self-Employed Pensioner Professional Corporation

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