Housing Loan Guide · Philippines
Building on a lot you already own.
Licensed professionals — doctors, dentists, lawyers, engineers — sit in a hybrid category: part self-employed, part institution-backed. Banks want to see your PRC license, proof you're actively practicing (a clinic schedule or hospital affiliation works), and that professional fees are actually landing in your bank account. Once that's established, lenders tend to view licensed professionals favorably. A Construction Loan funds the building of a home on land you already own. Because there's no existing structure to appraise yet, banks instead evaluate your building plans, bill of materials, and scope of work — and typically release funds in stages tied to construction progress rather than as one lump sum. One thing specific to Professional applicants: clinic/hospital verification is common. Below is the complete, up-to-date checklist for a Professional borrower pursuing a Construction loan in the Philippines — 8 borrower-side documents plus everything the bank needs on the property side.
Process
Submit and complete all borrower and loan documents listed above.
You're confirmed income-qualified and cleared to proceed.
Both your income and the collateral property are fully verified.
The bank drafts your mortgage and loan agreement documents.
You sign the finalized loan documents in person or via your attorney-in-fact.
The loan is officially annotated on the property's title.
Funds are disbursed and the process is complete.
Pre-Approval
Pre-Approval
Good to Know
Clinic/hospital verification is common.
What Happens Next
You're confirmed income-qualified.
Income Matching
Your monthly amortization should be 50% or below of your monthly income.
GMIR = 50% of Monthly Income
Adjusted GMIR = GMIR − Existing Monthly Amortizations
Loan Amount = Adjusted GMIR × (1 − (1 + r/12)⁻ⁿˣ¹²) / (r/12)
Post-Approval
FAQ
Yes, you must already own the land — the bank requires your Owner's Duplicate Copy of Title and Tax Declaration for the lot before releasing construction funds.
No. Construction loans are typically released in stages, tied to verified progress against your building plans and bill of materials.
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