1. What is a home loan?
A home loan is a financing option that allows you to borrow money to purchase, construct, renovate, or refinance a residential property. The property serves as collateral for the loan, and repayment is made over an agreed period with interest.

2. How do I apply for a home loan?
You may apply online through the EastWest Home Loan page or visit your nearest EastWest store for assistance.

3. What nationalities can apply for a home loan in the Philippines?

- Filipino citizens
- Filipino with dual citizenship

4. What are loan purposes offered by Eastwest home loan?

- Purchase of house and lot, lot, townhouse, or condominium
- Construction on owned lot
- Home Renovation or Home Improvement
- Refinancing/Take-out of an existing mortgage
- Reimbursement
- Home Equity/Top-up Loan

REQUIREMENTS AND ELIGIBILITY

5. Who can apply for a housing loan?
Filipino citizens aged at least 21 years old and not more than 65 years old upon loan maturity, with stable income and good credit standing, may apply. Overseas Filipino Workers (OFWs) are also welcome to apply, subject to requirements.

6. What if I am an OFW, can I apply for a home loan?
Yes, but you need to assign an Attorney In-Fact or Special Power of Attorney (SPA) as your representative.

i . An attorney‑in‑fact in a mortgage is a person authorized through a Power of Attorney to sign and handle mortgage‑related documents on behalf of the principal, limited only to the powers granted in the POA.

You need to submit:

i. Notarized SPA if you are currently in the Philippines
ii. Consularized SPA if you are currently outside the Philippines

7. Do I need a co-borrower?
Not required, but you may apply with an immediate family member to boost loanable amount. 
If married, the spouse automatically becomes a borrower

8. What is the minimum income required?
The minimum required is Php 40,000 gross monthly income.

9. I am married but not on good terms with my spouse, or we are separated without legal separation papers. What should I do?
Under Philippine law, properties of married couples are considered conjugal. As such, the participation of both spouses is required in the loan process.
However, we may accommodate separate document signing and coordinate with both parties individually, subject to evaluation.

Disclaimer: The bank will evaluate the situation on a case-by-case basis and that legal advice may be required for complex marital property issues.

10. My property was already appraised before I applied for a home loan, does it need to be appraised again by EWB?
Yes, it needs to be appraised by EWB’s Appraisal team.

LOAN AMOUNT AND TERMS 

11. How much can I borrow?
Minimum loan amount for all home loan products is Php 500,000.
Loanable amount typically ranges from 60% to 90% of the appraised property value, subject to the Bank’s credit evaluation and applicable policies.

12. What is the minimum and maximum loan term?
1 year minimum; up to 30 years maximum, subject to borrower’s age and loan purpose.
Loan terms vary:

- Up to 30 years for house and lot
- Up to 20 years for condominium and lot only

13. What is the Loan-to-Value (LTV) ratio?
LTV is the percentage of the property’s appraised value that the bank is willing to finance:

- Up to 80% for regular financing
- Up to 90% for approved developer-related financing
- Up to 60% for lot only

14. What is the difference between fixed and repricing rates?
Fixed rate = locked for a chosen period (e.g., 1, 3, 5 years).
Repricing rate = interest adjusts to market conditions after fixed term.

15. What happens after the fixed rate period?
The loan shifts to repricing rates.

16. Can I pre-terminate my loan or fully settle my loan?
- Partial or full pre-termination is allowed.
- A processing fee of Php 5,000 plus Gross Receipts Tax applies
- For accounts with availed promos, a pre-termination fee of up to 3% of the outstanding balance may apply
- No service fee is charged if payment is made on your loan anniversary date

INTEREST RATES & REPAYMENT

17. What are the interest rate options?

Rates:

Rates are indicative and may change without prior notice, subject to the Bank’s prevailing pricing and regulatory guidelines.

18. How are monthly payments calculated?
Payments depend on:

- Loan amount
- Interest rate
- Loan term

19. What other fees should I expect?
You can expect additional fees such as processing fees, appraisal fees, taxes (e.g., Documentary Stamp Tax), mortgage registration fees, notarial fees, and insurance costs (e.g., Mortgage Redemption Insurance and Fire/Earthquake Insurance). ​ These fees will vary depending on the loan amount and property type.

20. Is insurance required?
Mortgage Redemption Insurance (MRI) and Fire/Earthquake Insurance are mandatory.
Why is insurance required?

i. Mortgage Redemption Insurance (MRI) helps settle the loan in case of the borrower’s death
ii. Fire/Earthquake Insurance covers damages to the property caused by fire, natural disasters, or similar events

21. What if I have my own insurance already do I need to still get the insurance within EWB?
You can use your own insurance provided that the insurance provider will issue the certification/endorsement letter. Your insurance can cover the full loan amount.

22. Where can I procure my insurance for the loan?
You may procure insurance for the loan via our in-house insurance, Eastwest insurance partner EWAgeas or may opt to endorse your exisiting insurance with enough coverage to cover the availed loan amount.

23. How can I pay for my loan?
Loan payments will be made through an Automatic Debit Arrangement (ADA) linked to your EastWest Bank account.

24. What happens if I fail to pay on time?
Late payment charges may apply if payments are not made on time. Prolonged delinquency may result in foreclosure of the collateral property.
If you are experiencing financial difficulty, we encourage you to coordinate with the bank as early as possible so we can explore available options.

PROCESSING & REQUIREMENTS

25. How long does approval take?
Loan processing may take around 10–15 banking days upon submission of complete application requirements, subject to evaluation.

26. What are the basic requirements to apply?

- Completed EastWest Bank Application Form
- 2 valid gov’t issued IDs signature bearing; Passport (if based abroad)
- Marriage Contract (if married) or CENOMAR (if single)
- Proof of billing
- Proof of income (e.g., payslips, bank statements)
- Property documents (e.g., title, tax declaration)
- Construction plans (if applicable)

27. What are the income requirements?

a. If locally employed:

- Latest & Valid Certificate of Employment
- 3 months latest pay slips
- Latest ITR (if loan amount is 3M & up)
- EWB’s Authorization to conduct employment verification

b. If self-employed/business:

- DTI/SEC Certificate of Registration
- Latest three (3) years Income Tax Return with Audited Financial Statement
- Latest 6-month Bank Statements (working account)
- EWB’s Authorization Letter to conduct Bank Checking
- List of trade references

c. If OFW – Direct Hire (Land-Based)

- Valid Employment Contract (authenticated if required)
- Latest 3 months’ Payslips or Proof of Remittances
- Latest 6 months’ Bank Statements
- POEA OEC (Overseas Employment Certificate), if applicable

d. If OFW – Seafarers (Sea-Based)

- Seaman’s Book (with recent departure/arrival stamps)
- Employment Contract or Crew Contract
- Latest 3 months’ Payslips or Allotment Slip
- Latest 6 months’ Bank Statements

e. If Doctors, Lawyers, Professionals (Accountants, Engineers, etc.)

- Valid PRC/IBP License
- Latest ITR with AFS or BIR Form 1701
- Certificate of Practice/Clinic Accreditation (for doctors)
- Latest 6 months’ Bank Statements

28. Do I need collateral?
The property to be purchased, constructed, or improved will serve as collateral. You may also use your owned property as collateral.

29. What collateral documents are required?

- House & Lot / Lot: Transfer Certificate of Title (TCT), updated Tax Declaration, Tax Clearance, lot plan with vicinity map.
- Condominium: Condominium Certificate of Title (CCT), updated Tax Declaration, Master Deed of Restrictions.
- Construction Loan: Borrower’s TCT, building permit, floor plan, bill of materials, and specs.
- Refinancing: TCT/CCT, Statement of Account from current lender, mortgage documents.

30. What are your accredited developers?

- Filinvest
- SMDC
- DMCI
- Federal Land
- Aboitizland
- Rockwell Land
- Shangri-La

31. What if the property title is not in my name yet?
If the property title is not yet in your name, the loan release will only occur after the title has been successfully transferred to your name and the bank’s mortgage lien has been annotated. ​

POST BOOKING

For post-booking concerns such as title requests, statement of account (SOA), insurance renewal, or account-related inquiries, you may contact:

csloans@eastwestbanker.com
cshelpdesk@eastwestbanker.com
8784-5660

For application status updates, you may also coordinate with your store of application, broker, or assigned account officer.
For other inquiries and feedback, you may call EastWest 24-Hour Customer Service at (+632) 8888-1700 or e-mail service@eastwestbanker.com

32. What is the process and timeline for repricing, and how is the amount determined?
Repricing will be applicable by the end of your fixing term. Our handling team will advise that the rate applicable rate will depend on the Bank’s prevailing rate at the time of repricing, which may be influenced by market conditions.

OTHER SCENARIOS:

33. Can I use my home loan for renovation or improvements?
Yes, subject to credit evaluation and approval.

34. Can I loan against a fully paid property (home equity)?
Yes, subject to credit evaluation and approval.

35. Can two or more people apply jointly?
Yes, subject to credit evaluation and approval.

36. Can OFW income or remittances be considered?
Yes, subject to credit evaluation and approval.

37. Can I make advance payments if i have extra cash? When? How?
Yes, you may make advance payment on your loan anniversary date to avoid paying processing fee. You may advise our customer service ahead of time to give necessary instructions on the advance payment.

EastWest is regulated by the Bangko Sentral ng Pilipinas. https://www.bsp.gov.ph.