Apply for a Home Equity Loan

• Minimum age: 21 years old
• Minimum income: PHP 40,000 or USD 1,000 
• Employment status: 
  • Permanent status with current employer for 2 years
  • For land-based OFWs, employed by the current employer for 2 years
  • For sea-based OFWs, must have completed a combined contract duration of 24 months with the current agency
  • For self-employed, profitable operations for at least 3 years
• Credit history: Good standing, with no adverse findings
• Collateral: Residential property

• Interest fixing period: 1 year to 5 years
• Interest rates:*  (1% shall be added for Home Equity Loans)
• 1 year - 6.25%
• 2 years - 7.25%
• 3 years - 7.75%
• 4 years - 8.00% 
• 5 years - 8.25%
• Maximum loanable amount: 80% of property value
• Fees: 
  • Appraisal fee of PHP 4000 (Metro Manila) or PHP 4500 (countryside)
  • Title investigation fee of PHP 1000
  • Registration fee: Actual Quotation + Php2,000.00
  • Notarial fee of PHP 400 (or actual quotation from service provider, whichever is higher) per document
  • Handling fee of PHP 5000
  • Mortgage Redemption Insurance (to be quoted)
  • Property Insurance (to be quoted)

*Rates may change from time to time. Kindly visit your nearest Metrobank branch or call our contact center at (02) 88-700-700 for the most updated rates.

1. Filled-out and signed Metrobank Home Loan Application Form
2. One valid government-issued ID (preferably passport)
3. Marriage contract, if applicable
4. Source of repayment:
   
   1. For Employed Individuals:
      • Certificate of Employment (COE) with compensation, position or job title, and date employed or tenure OR;
      • Latest three (3) months electronic pay slips / payroll bank statements OR;
      • Latest ITR or BIR Form 2316 
   2. For Individual Applicants in Business: 
      • If Single Proprietorship: DTI Certificate of Registration or Business Permit
      • If Partnership: Articles of Partnership with names of Partners
      • If Corporation: SEC Registration AND Articles of Incorporation and By-Laws, AND Updated GIS with names of Shareholders and Senior Management
      • Latest six (6) months bank statements 
      • If loan exposure > 3MM: Latest Income Tax Return (ITR) AND 2 years Audited Financial Statements 
   3. For Overseas Filipino Workers: 
      • Original Certificate of Employment with Compensation (COEC) with details on salary, position and length of service and employer’s email address (if land-based OFW) OR photocopy of latest POEA contract and Certificate of Sea Service with work history and tenure (if sea-based OFW)
      • Proof of monthly remittance for the last six (6) months in the name of the OFW or his immediate family members OR three (3) months pay slips / payroll bank statements 
5. Collateral Requirements
   1. Owner’s duplicate copy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
   2. Tax Declaration of Land and/or Improvement
   3. House Plans/Bill of Materials/Building Specifications (for construction loans) or
   4. Contract-to-Sell (CTS) or Reservation Agreement (RA) (if under Developer’s Tie-up)

*ITR needed only for total loans (commercial and consumer) >P3MM

How to apply

• You may visit the nearest Metrobank branch or submit an application form online by clicking the Apply now button below.

Apply Now

How much of the property's value can I loan? 
Your Home Equity Loan can cover up to 70% of the property's value. 

How long is the interest fixing period? 
The fixing period for home loans is 1 to 5 years. 

What happens after the fixing period? 
At the end of your fixing period, your Home Equity Loan will be re-priced. This means that the interest rate of your loan will change.

How can I pay for my monthly amortization?
You can pay for the monthly amortization via Auto Debit Arrangement (ADA) from your Metrobank deposit account.

What valid IDs can I present? 
You may present any of these IDs: 
For locally employed or in business:

• Philippine Identification Card (PhilID)
• Passport
• Driver’s License
• Professional Regulation Commission ID
• Postal Identity Card
• Voter’s ID
• GSIS e-Card
• Social Security System card or Unified Multi-Purpose ID
• Senior Citizen Card
• Government Office and Government Owned and Controlled Corporations ID (e.g. BSP, SEC, Insurance Commission)
• Persons with Disabilities (PWD) ID issued by the National Council on Disability Affairs
• Integrated Bar of the Philippines ID
• Company ID (if signature bearing) issued by Covered Person registered with or supervised/regulated by BSP, SEC or Insurance Commission

For OFWs:

• Passport