Is a Security Bank Housing Loan Right For Me?

Security Bank housing loans are some of the most flexible loans available, allowing you to pay more on your mortgage when you have extra, or less if your financial situation is a little tight, at no extra cost. Interest rates start at 6.75% a year. You can get a decision on your application in just 5 days.

How Much Can I Borrow With A Security Bank Housing Loan?

Maximum of 80% for your desired property

Am I Eligible for a Security Bank Housing Loan?

Yes, if you are:

• At least 21 years old, but not more than 65 years old upon loan maturity
• Earning a combined monthly income of P50,000
• Continuously employed for at least 2 years
• For the self-employed, must be operating a legitimate and profitable business for the last 3 years

What Documents Will I Need to Prepare?

If you have applied for a Security Bank Housing Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below: A. Requirements for locally-employed borrowers

• Completely filled out and signed application form
• Clear copy of one valid ID (photo-bearing government issued)
• Any ONE of the following income documents:
  • Latest Certificate of Employment and Compensation
  • Latest Income Tax Return
  • Latest 3 months’ payslips
  • Latest 3 months’ bank statements
  • For credit commission income, submit latest 6 months’ payslips
• Mortgage Redemption Insurance (MRI) Application Form
• Relevant collateral documents (section E)

B. Requirements for self borrowers

• Completely filled out and signed application form
• Clear copy of one valid ID (photo-bearing government issued)
• Income Tax Return (1701 for sole proprietary owner; 1702 for corporation)
• Any ONE of the following income documents:
  • Audited Financial Statements (latest 1 year)
  • Bank Statements (latest 3 months)
  • Lease/Rental Contracts
  • For licensed Real Estate and insurance brokers, submit 12 months’ proof of income
• Mortgage Redemption Insurance (MRI) Application Form
• Relevant collateral documents (section E)

C. Requirements for corporate borrowers

• Completely filled out and signed application form
• Company profile: background, owners, key officers
• SEC Registration and General Information Sheet
• Bank Statements (latest 3 months) with Audited Financial Statements (past 3 years)
• Suppliers’ contact info with average monthly transactions
• Customers’ contact info with average monthly transactions
• Authorization letter (for bank, business and trade checkings)
• Mortgage Redemption Insurance (MRI) Application Form
• Relevant collateral documents (section E)

D. Requirements for OFW borrowers

• Completely filled out and signed application form
• Clear copy of one valid ID (photo-bearing government issued)
• Any ONE of the following income documents:
  • Certificate of Employment with compensation (issued within the last 6 months)
  • Latest Crew Contract
  • Latest Employment Contract
  • Allotment Slip
  • Latest 3 months’ bank statements or payslips
• Mortgage Redemption Insurance (MRI) Application Form
• Relevant collateral documents (section E)

E. Collateral document requirements

• Copy of collateral title
• Copy of Tax Declaration on land and/or improvement
• Appraisal Fee paid to SBC
• Acquisition from accredited developer
• Contract to Sell or Reservation Agreement
• Home construction or renovation:
• Bill of Materials and Estimates of Construction and Labor Cost
• Floor and Building Plan and Building Specifications
• Loan take-out / Home equity
• Proof of amortization payments for the last 3 months
• Statement of Account from Mortgagee Bank

Sounds Great! How Should I Proceed?

You can use the Security Bank home loan calculator to calculate your monthly repayments, based on your desired property value and loan amount. Once you are ready to apply, you can make a free enquiry through iMoney, and our customer representatives will call you back. Applying for a home loan with iMoney is absolutely free of charge. If you are still not certain whether a home loan from Security Bank is what you need, we also suggest to check out EastWest Bank housing loan and compare if it matches your requirement. If you're still looking for other alternatives, you can view our entire lineup of house loan options from other banks available in the Philippines.

Is It Easy to Repay my Security Bank Housing Loan?

It’s easy and flexible to make payments for your housing loan. Consult your nearest Security Bank branch for more details.