Housing Loan Guide · Philippines
Transferring your existing housing loan balance to a new bank, usually for better terms.
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 Loan Take-Out (or refinancing) moves your existing housing loan balance — whether owed to a developer, Pag-IBIG, or another bank — to a new lender offering better interest rates or terms. The new bank essentially pays off your old balance and takes over the loan, so your Statement of Account and payment history from the current lender become central documents. 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 Loan Take-Out 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.
The property passes appraisal and title verification.
The bank formally guarantees the loan to the seller or developer.
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
No — your Statement of Account and payment history from your current lender are required precisely so the new bank can verify your track record and compute your remaining balance.
It depends on the interest rate difference and any prepayment penalties from your current lender — worth comparing both before switching.
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