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 types of property are accepted as collateral?
The property used as collateral must be a residential property located in the Philippines with a clean title. It must be free from any existing liens or encumbrances at the time of application.

What can I use my Home Equity Loan for?
The loan can be used for a range of purposes, including home renovation, business capital, debt consolidation, tuition fees, or other major personal expenses.

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