• BPI Home Loan Refinancing

    About BPI Housing Loan

    Bank of the Philippine Islands or BPI as popularly known, needs no introduction. A leading banking brand in the Philippines, this universal bank has been fulfilling banking and financial needs of Filipinos for ages now. This universal bank offers housing loans for a variety of housing needs such as purchasing a new house or a condo unit, renovation of an existing home, purchasing a lot & construction.

    With fast processing timelines and affordable rates and terms, your housing dream is just an application away with BPI. The home loan not only offers financial assistance, but goes an extra mile by extending a helping hand in terms of partnering with leading developers and builders in the country and offering other perks and benefits. For those of you looking forward to refinance an existing home loan with a different bank, BPI offers attractive incentives such as low interest rates for switching over. The section below throws further light on the refinancing option by BPI under its home loan portfolio.

    BPI Refinancing Home Loan

    Paying off a home loan is relatively a long term commitment, especially if you’ve chosen a long term. If you’re someone who is feeling the pinch with your amortization repayments due to bad service or premium rate of interest, it's advisable to consider getting the outstanding balance refinanced by another bank to save on future charges and fees. In this option offered by most of the banks providing home loans, one can transfer the entire outstanding balance to a new bank and be benefited by low rates and better terms.

    Under the BPI Housing Loan scheme, the borrower can refinance an existing home loan from a different bank. Based on your monetary eligibility, you can transfer the entire outstanding balance and benefit from world class services and affordable rates offered by the bank. Plus, you also get an elaborate term option of up to 10 years to repay the loan availed in monthly amortizations. If you’re paying premium interest charges on an existing loan, it makes sense to switch over. The “Interest Rates” section provides further details in this regard.

    Eligibility Criteria

    • Filipino citizens who are not older than 65 years upon loan maturity. OFWs are also welcome to apply.
    • Foreign nationals are not allowed to avail the refinance option under the BPI housing loan. They can only purchase a condominium with the loan amount.
    • Foreign nationals married to Filipino citizens should be able to execute and produce an affidavit of support and rights waiver as required on a case to case basis.
    • The minimum household income of the applicant should not be less than P40,000.

    Based on your income and background, there can be additional conditions set by the bank which will be communicated at the time of application.


    The checklist below will help you to arrange for documents and prepare for the loan. Ensure these documents are in place before proceeding with your application as it helps to save time.

    General Requirements

    • Duly accomplished application form in the required format and signed where required.
    • ID cards issued by government agencies.
    • Other forms as recommended by the bank.

    Income Documents

    Salaried & Locally Employed
    • COE (Certificate of Employment) containing details of salary, designation & duration of service.
    • ITR (Income Tax Return) for last two years.
    Overseas Filipino Workers(OFWs)
    • COE (Certificate of Employment) or contract copy authenticated by the Philippine consulate in that country.
      Crew Contract along with Exit Pass validated by the POEA.
    • Monthly Remittance proof.
    • Notarized SPA (Special Power of Attorney)
    Self Employed Applicants
    • Registration certificate issued by the SEC accompanied by Articles of Incorporation & Bylaws.
    • DTI Registration Certificate.
    • Last 6 months Bank Statements.
    • ITR accompanied by Statement of Assets & Liabilities for last two years.
    • At Least 3 trade references with contact details.
    • Audited financial statements of last two years.

    In addition to the above checklist, documents specific to the profession or source of income need to be furnished as a part of the application procedure.

    Interest Rates

    The rates provided below are indicative and has been sourced from the official website of BPI. Rates are subject to change without prior notice. Before applying for a Housing Refinance Loan from the bank, make sure to check with the nearest branch for up to date rates. Provision of these rates are also subject to your eligibility along with other factors.

    Tenor (Term of Loan) Rate of Interest
    Yearly 5.50 percent
    2 - 3 years 6.00 percent
    4 - 5 years 6.88 percent
    6 - 10 years 8.00 percent
    11- 15 years 9.50 percent
    16 - 20 years 11.50 percent

    If you feel financially burdened or unhappy with the terms and service offered by the existing bank, do consider switching over to a bank that offers enhanced terms and rates. Being a trusted brand in the housing loan market, you can rely upon BPI for your refinancing requirements.

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