Housing Loan Guide · Philippines
Transferring your existing housing loan balance to a new bank, usually for better terms.
Running your own business means banks can't just check a payslip — they build a picture of your operation from DTI or SEC papers, audited financials, and how money actually moves through your account. It takes a bit more paperwork than salaried employment, but a self-employed applicant with two years of clean, verifiable income can qualify for loan amounts that surprise people who assumed only employees get approved easily. 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 Self-Employed applicants: banks evaluate cashflow, not just the ITR. Below is the complete, up-to-date checklist for a Self-Employed borrower pursuing a Loan Take-Out in the Philippines — 9 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
Banks evaluate cashflow, not just the ITR.
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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