Tips and Guides

How Do I Get a Housing Loan?

Taking out a housing loan isn't so frightening. Keep in mind these practical reminders

Photography: Paolo Feliciano

If you’ve been renting forever, perhaps you want to make that rent money go to a house that you can own. Taking out a housing loan from a bank isn’t as daunting as you think! Jocelyn Sta. Ana, senior vice president and head of Retail Mortgage Division of BPI Family Savings Bank gives us a list of important things to take note of:

Read the original article ("40 Great Places To Live In") in the August 2014 issue of Real Living Magazine. Download your digital copy of Real Living on the Real Living App. Log on to for more details.

How do I get a bank loan?

Banks will help you assess the value of the property you want to acquire and let you borrow based on their assessment and your capacity to pay. “The interest rates vary depending on the duration of the amortization, not the amount you borrowed,” says Jocelyn. “We want to make sure that the loan is tailor-fit for each and every borrower.”

Is there a minimum income required to apply?

Yes, there is. For BPI, the minimum household income is P40,000.

What are the requirements needed?

The requirements include: an application form, income documents, and identification. For the complete detailed list, visit

Photo by Bea Marquez.

How long does the process take?

Processing your housing loan usually takes two days to a week, depending on the status of the borrower. This is also subject to how soon you can complete your requirements.

Can I get a reprieve on some months?

BPI Family Savings Bank offers a Pay-Break option for borrowers to choose a month in a year to defer from payment—useful for the time when you have to shell out for your child's tuition.

Got questions about home loans? We'd love to help! E-mail us at reallivingonline[at] or send us a message on Facebook.

More on

4 Questions on Real Estate Tax Answered

3 Common Questions About Buying a Condo Unit

Should You Buy or Rent a Condo Unit?


Latest Stories

IKEA PH To Open Soon!

The Swedish furniture giant finally found a local partner

This Mom Built Her Kids a Tree House in Their QC Backyard

Read on to find out how she did it—you can do this, too!

You Can Earn An Extra P20K Every Month By Managing a Home

Discover how one Pinay does it

3 Bathroom Styles We Can Learn from Kris Aquino

From colorful to masculine—we’ve got looks that can spruce up even the tiniest of T&Bs

A Tiny Studio Unit Becomes A Hotel-Style Home

In another makeover marvel by Elle Uy, the decorator transforms a dark studio unit into a chic and airy space

Get the Look of Iza Calzado’s Bedroom

Give your sleeping space an easy, dainty makeover with the right pieces

5 Amazing Closet Cleaning Tips You Can Try

Achieve your dream wardrobe with these handy tricks

How To Vacuum Your Home Properly

Here’s how to avoid all the usual vacuuming mistakes. Plus, learn about a revolutionary new material that will help you bust all that dirt at home.

A Cozy and Modern Family Home in Quezon City

Works of art, beautiful fabrics, and a mix of old and new pieces bring this townhouse to life

5 Things To Never Clean With Baking Soda

This finely milled powder has its downsides, too

There's An Affordable Way To Keep Your Home Smelling Good 24/7

Say no to artificial fragrances with this three-step hack

A KonMari Reality Show Is Coming To Netflix

Will de-cluttering diva Marie Kondo's new show spark joy?
Load More Stories

Get inspiring design ideas and handy hints.
Subscribe to our newsletter now!