Housing Loans in the Philippines – Approval and Processing Time Comparison Guide


For a number of people who don’t have millions stashed in their banks, applying for a housing loan is the ideal solution.  They can land that dream home without having to spend most of their lives saving up for it. That being said, applying for a home loan is not something that can be rushed as it goes through a detailed review process.

But what goes on before a housing loan is fully approved?  Basically, after pre-approval, your home loan specialist will advise you to provide supporting documents which then will be submitted to the underwriter. It is the underwriter’s responsibility to review your loan scenario and the supporting documentation to ensure that it meets the loan program guidelines, to determine whether or not you qualify for the loan. Thereafter, a decision will be handed out by the underwriter, usually through a letter or a call, with one of the four possibilities about your application: approved, approved with conditions, suspended (more documentation required) or unfortunately, denied.

We’ve made a housing loan approval and processing time comparison guide to give you an idea how long it takes before an application gets approved.

hoppler housing loan approval and processing time

As a tip, apply for an amount that is realistic according to your cash flow. After all, your bank will check your current standing from all the documents you are going to send them. Make sure to ask the home loan specialist questions about things you could do in order to make yourself a more attractive loan candidate. With patience, time, determination and a little luck, you should become a residential property owner in no time.

Fast Track Form 728 x 9