Housing Loan

The program is open to Filipinos and non-Filipinos residing and working in Japan who are interested in purchasing residential real estate in the Philippines.

Loan purposes that fall under the OWN A PHILIPPINE HOME LOAN PROGRAM are:

  • Purchase of residential lot, house and lot, condominium unit, townhouse, rawhouse;
  • Purchase and/or construction of apartment building of up to 4 units only;
  • Improvement/renovation on existing residential property/ies;
  • Construction of residential unit/s on a lot presently owned by the borrower;
  • Take-out of existing housing loan; provided, account is in current status; and
  • Refinancing of existing residential unit, provided said property has been acquired by the borrower one year or less from date of application.

Properties eligible for financing shall be limited to those located in developed subdivision/areas where there is an existing road network, drainage, electrical and water facilities, etc

The annual interest rate is the prevailing JPY Long Term Prime Rate quoted by Mizuho Corporate Bank's current rate plus 5% fixed spread subject to resetting every anniversary date. (Rates are subject to change without prior notice)

Manner of releases are as follows:

  • For project involving acquisition, the loan proceeds shall be released in lump sum payable to the seller/developer;
  • For project involving house construction and improvements/renovation, loan releases shall be on a staggered basis, depending on the progress of the project, payable to the owner or designated financial manager;
  • For refinancing of existing loan, the loan proceeds shall be released directly to the financial institution.

Proceeds of the loan shall be released in Philippine Pesos (converted from Japanese Yen at the Bank's prevailing buying rate for telegraphic transfers on the day of release of the loan) directly to the former owner/seller of the property or financial institution.

The loan will be secured by a Real Estate Mortgage (REM) over the property to be financed that will be annotated on the title. Real estate properties other than the property to be financed are also acceptable as additional collateral.


Filipinos in Japan with long-term or permanent residence, working, during mission, investor, designated activities visas and who are gainfully employed:

  • Filipino spouses of Japanese and other nationalities, (Spouses should both be the borrowers);
  • Natural-born Filipinos residing and working in Japan who have lost their Filipino citizenship (limited to a maximum lot area of 1,000 square meters);
  • Foreigners/non-Filipinos (limited to the acquisition of condominium units)
  • Acquisition of up to four (4) residential units may be allowed provided:
    1. the borrower is not engaged in the real estate/leasing business and the repayment shall not come from the rental income that may be earned from the residential units; and,
    2. the aggregated area of the lot will not exceed the maximum allowed in case of former Filipinos.


*Minimum loan amount allowed is from PHP 500,000 for lots and PHP 1,000,000 for house & lot*

  • For purchase of vacant residential lot, up to 60% of the appraised value;
  • For purchase of residential house & lot, town house, raw house or condominium unit, up to 80% of the appraised value of the property;
  • For house construction, up to 80% of the appraised value of the lot and the house to be constructed;
  • For major house renovation/improvement, up to 80% of the appraised value of the house and lot PLUS 80% of the appraised value of the Bill of Materials of the house to be renovated;
  • For refinancing/take-out, up to 80% of the property to be financed or the outstanding principal balance from the seller/developer, whichever is lower


The loan will be paid in equal monthly amortization for a period of one (1) year to a maximum of ten (10) years. For longer term, please consult us.

Payment commences one month after full loan release. The borrower will be required to open a Yen Savings account maintained at PNB Tokyo Branch, wherein monthly amortization will be automatically deducted on their due dates and other loan related expenses.

The loan may be prepaid in full or in part subject to a prepayment fee of one percent (1%) of the amount of prepayment. Written notice must be furnished to the Bank at least 10 days prior to the intended date of repayment. Prepayment fee shall not be collected if prepayment is done on the anniversary date (interest re-setting date).


  1. Send a completed application package to PNB Tokyo together with supporting documents.

    Housing Loan Checklist of Requirements:


    • Accomplished Loan Application
    • One passport size picture (husband & wife)
    • Copy of Passport
    • Copy of Residence Card (Non-Japanese)
    • Copy of Driver's License (Japanese)
    • Original Certificate of Employment indicating date of commencement of employment, present salary and position. If self-employed, Business Registration Certificate.
    • Income Tax Returns (Kakutei Shinkoku) or Withholding Tax Certificates (Gensen Choshuhyo) for the past two (2) years. If self-employed, copy of tax payments for the past two (2) years.
    • Copy of Proof of Income (updated payroll slips / latest 3 months)
    • Marriage Certificate (Koseki Tohon)
    • Residence Certificate (Jyumin-Hyo)


    • Copy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
    • Copy of Tax Declaration, Realty Tax Receipt, & Tax Clearance
    • Location Plan / Vicinity Map certified by the Geodetic Engineer

    For Purchase of property:

    • Copy of Purchase Agreement or Reservation Agreement or Contract to Sell with updated Statement of Account

    For house construction and improvements:

    • Building plan specifications duly signed by a Civil Engineer or Architect
    • Bill of Materials or Construction Cost Estimate duly certified by a Civil Engineer or Architect; and
    • Duly approved building remodeling or building permit from City Engineers Office.
  2. Upon receipt, a formal appraisal and credit investigation report will be requested from PNB Head Office and PNB Tokyo will evaluate the credit worthiness of the loan applicant. Analysis will be conducted in accordance to existing credit standards, taking into particular consideration the applicant's character, capacity to pay and stability of residence / employment.
  3. The approval/denial process will take approximately four weeks from the time PNB receives all required documents and will be contingent upon receipt of acceptable appraisal figures on the proposed real property. This decision will be conveyed to the applicant in writing.
  4. Upon final approval, legal documentation will be prepared. Collection of JPY 25,000 application fee will be made upon acceptance/conformity of the Facility Letter. Loan related documents will be signed by the borrower in Japan. This will require notarization by the Philippine Embassy in Japan. In case of non-Filipinos, all loan documents should first be notarized by a Japanese Notary Public, secondly, authenticated by the Gaimusho, and finally, authenticated by the Philippine Embassy.
  5. At this point, the bank will require Group Mortgage Redemption Insurance coverage should the borrower apply for a loan to purchase a lot. On the other hand, if the borrower applies for a loan to purchase a house and lot, the bank requires both Group Mortgage Redemption Insurance and Fire Insurance coverage, in the amount of the loan, naming the bank as beneficiary.
  6. Upon receipt by PNB Head Office of the original copy of TCT/CCT under the name of the borrower, Free and Clean from any liens and encumbrances and other pertinent documents from the seller/developer and all signed documents, the registration of the real-estate mortgage (REM) to the concerned Registry of Deeds will be done, and loan proceeds are released to the owner/seller immediately after the annotation of REM. Original Transfer/Condominium Certificate of Titles (TCT/CCT) are kept at PNB Head Office for safekeeping and copies forwarded to PNB Tokyo for the branch and borrower's files.

    For accredited developer, release of loan proceeds is allowed with Deed of Undertaking executed by the developer with borrower's conformity.

The entire process, including appraisal, filing, perfection of documents and loan release is expected to take approximately three (3) months or more. It all depends on the completeness of the documents and the swiftness of the seller/developer to transfer the ownership of the title to the borrower's name. The loan is only available for 180 days or 6 months period from the date of approval. More than this, the Bank needs to revalidate the account and applicant/borrower should submit selective updated pertinent documents.

1% of the loan amount equivalent in JPY or JPY 25,000 (whichever is higher) will be charged as arrangement fee at the time the loan is released.

Thereafter, schedule of amortization/repayments will be sent to the borrower right after the final release of the loan.




Documentary Expenses Amount
1) Application Fee JPY 25,000
2) Notarization / Authentication Fee  
2.1 For Japanese Borrower or Filipinos married to Japanese and other Foreign nationals


        Loan Agreement, Real Estate Mortgage, Deed of Undertaking and Deed of Assignment should be authenticated by the ff:

JPY 11,500 for each document subject to change

     a. Notary Public (Koshonin Yakuba)


     b. Ministry of Foreign Affairs (Gaimusho) for Japanese


     c. Philippine Embassy

JPY 2,875 for each document subject to change

  2.2 For Filipino Borrowers  


     a. Philippine Embassy

JPY 2,875 for each document subject to change

3) Arrangement Fee

1% of the loan amount or JPY 25,000 whichever is higher      Note : Payable upon release of loan

4) Revenue Stamp for Promissory Note

Tax will vary on the loan amount

5) Revalidation Fee


    5.1  After the lapse of 6 months  validity of loan approval (Full credit investigation)

JPY equivalent to PHP2,000 plus JPY 10,000

    5.2  After the lapse of 1 year validity of  loan approval (Full credit investigation and Inspection & Re-appraisal)

JPY equivalent to PHP5,300 plus JPY 10,000


6) For Annotation of Real Estate Mortgage


    6.1 Documentary Stamp Tax

Amount of Mortgage

EX)  PHP2,000,000 / 5,000 x 10 + PHP10 = PHP4,010

    6.2 Registration Fee payable to Register of Deeds (RD)

Based on RD Schedule of Fees

    6.3 Notarial Fee

PHP 200 per document (Real Estate Mortgage & SPA)

7) For Release / Cancellation of REM (Take-out & Refinancing)


    7.1 Registration Fee payable to the RD

Amount of previous loan to be cancelled x 10%. Result shall be then referred to RD Schedule of Fees.

    7.2 Miscellaneous Expenses

PHP 300 (if previously mortgage with other bank)


PHP 200 (if previously mortgage with PNB)

8) Mortgage Redemption Insurance  Premium


9) Fire Insurance Premium


10) Others: Incremental Expenses



All late payments shall be subject to a late payment charge equal to 18% of the late amortization.

The Bank will attempt to collect 18% (per annum) on delinquencies for a maximum of ninety (90) days during which a sequence of demand letters will be sent to the borrower. If no attempt is made by the borrower to contact the Bank and settle outstanding obligations, on the 90th day, the Bank reserves the right to proceed with the immediate foreclosure on the property.

Jul 30, 2015
Peso/Yen 0.3610
USD/Yen 125.15
Peso/USD 44.473

Rates are subject to change during the day.