New York

Own a Philippine Home Loan

Own a Philippine Home Loan or OPHL is a financing program unique to PNB. It allows Filipinos and non-Filipinos residing and working in the United States an easy way to obtain a bank financing of residential properties in the Philippines.

OPHL is the most convenient and secured home loan with:


  • Purchase of residential lot, House & Lot, Condominium, Townhouse or Rowhouse
  • House Construction or Home Improvement
  • Reimbursement of acquisition or construction cost
  • Refinancing / Loan take out of existing Philippine home loan
Eligible Borrowers
  • Filipinos residing and working in the U.S.
  • Natural-born Filipinos residing and working in the U.S. who have lost their Filipino citizenship (limited to a maximum lot area of 1,000 sq.m. only)
  • Foreigners, but limited to the acquisition of condominium units only
Loanable Amount
Property to be financed Loan value
Lot and Brand new house Up to 80% of the selling price or appraised value (AV)
Lot only Up to 60% of the selling price or appraised value (AV)
Lot and existing (pre-owned/second-hand) improvement or lot with proposed improvement/construction Up to 80% of the AV of the property
Reimbursement of acquisition/construction cost Up to 80% of the selling price or AV
Loan take-out Up to 80% of the AV of the property

Note: Foreigners are entitled to a maximum loan grant up to 70%.

The loan shall be secured by any of the following:
  • Real estate mortgage (REM) on the property being financed
  • Standby Letter of Credit (SLC) if the host country‚Äôs rules and regulations do not allow a REM on the property to be financed. The SLC shall: (i) expire one month after maturity of the loan, (ii) be issued by PNB Head Office, (iii) be secured by the real estate mortgage on the property to be financed, and, (iv) be as prescribed by the PNB Legal Group
  • Hold-out on deposit maintained with the Bank. The hold-out shall fully cover the outstanding principal and interest for a year and shall be backed by an unregistered REM which will be registered immediately in case of default or a clean exposure.
Interest Rate
Manner of Release
The proceeds of the loan will be released in Philippine Peso for purchase/acquisition transactions or in US Dollars for house construction in the following manner:
  • Lump sum release for purchase of property, refinancing or reimbursement
  • Staggered loan releases shall have an aggregate amount of up to eighty percent (80%), except on the first release wherein the basis shall be seventy percent (70%) of the AV of the lot. Loan releases shall be up to a maximum of five (5) drawdowns which shall be made at the following stages of completion:
Loan Release Stage of Project Completion
First/Initial Release Start of the construction/improvement (below 30% completion)
Second Release Thirty percent (30%) completion
Third Release Sixty percent (60%) completion
Fourth Release Ninety percent (90%) completion
Fifth/Final Release One hundred percent (100%) completion
Repayment Scheme
  • Maximum of 25 years for purchase of house and lot, townhouse condominium unit, rowhouse or apartment unit and house construction.
  • Maximum of 10 years for purchase of lot or home improvement
  • Repayment of your loan shall be in US dollars. This shall be paid through submission of post-dated checks, over-the-counter payment, or a debit arrangement.
  • Payment commence one month after the final loan release.
  • For staggered releases, interest accruing on the initial release shall be deducted from the proceeds of second release. Additional interest due on the first release and interest accruing on the second release shall be deducted from the third release and so on. Consolidation of staggered PNs (Principal + interest) payment shall commence one month after final release.
  • Fire insurance coverage should be equivalent to the latest appraised value of the insurable property or on the contract price as indicated on the Contract to Sell.

Estimated Monthly Payment

(Per $1,000.00)

Interest Rate Monthly Payment 10 Years APR for 10 year Term Monthly Payment 15 Years APR for 15 Year Term Monthly Payment 20 Years APR for 20 year Term
7.00 11.62 7.328 8.99 7.241 7.76 7.194
7.25 11.75 7.590 9.13 7.493 7.91 7.446
7.50 11.88 7.841 9.28 7.745 8.06 7.698
7.75 12.01 8.093 9.42 7.997 8.21 7.950
8.00 12.14 8.344 9.56 8.249 8.37 8.203
8.25 12.27 8.596 9.71 8.500 8.53 8.454
8.50 12.40 8.848 9.85 8.752 8.68 8.707
8.75 12.54 9.099 10.00 9.004 8.84 8.959
9.00 12.67 9.351 10.15 9.256 9.00 9.211
9.25 12.81 9.603 10.30 9.508 9.16 9.463

OPHL Requirements:

Application/Identity Documents

  • OPHL Application Form
  • Copy of IDs
  • Acceptable US FICO Score (at least 650) and credit history (no bankruptcies, past dues, etc.)
  • Non-refundable PROCESSING fee of $200.00
  • APPRAISAL fee of $150.00

Income Documents

  • Photocopy of Income Tax Returns (ITR) with all attachments including W-2 forms for the last 2 years
  • If EMPLOYED: Copies of pay-stubs for the last 2 consecutive months
  • If SELF-EMPLOYED: Audited Financial Statements of the business for the last 3 years
  • Bank statements for the last 2 consecutive months (checking and savings) - same months as pay stubs

Collateral Documents

  • Copy of title (TCT/CTC)
  • Copy of Tax Declaration on land and/or improvement
  • Copy of current Real Estate Tax Receipt (RETR) and Tax Clearance
  • Approved survey/lot plan (signed by Geodetic Engineer)/location plan with vicinity map
  • Acquisition from accredited Developers

  • Contract to Sell; or Reservation Agreement with Computation Sheet / statement of account

House Construction or Renovation:

  • Bill of Materials and Estimates of Construction and Labor Cost signed by Civil Engineer or Architect
  • Floor and Building Plan and Building Specifications signed by Civil Engineer or Architect
Buying a home? Check out PNB New York's OPHL Program.

PNB New York's Queens Office Resumption of Business Operations Effective May 18, 2020

Please be informed that our Queens Office will resume its banking operations with the following temporary business hours starting Monday, May 18, 2020:

Open from 10:00 AM to 1:00PM (Mon, Tue, Thu, Fri & Sat)

Closed (Wed & Sun)

Meanwhile, Manhattan Branch has also resumed its business operations with temporary banking hours from 10:00AM to 1:00PM (Monday to Friday), since May 4, 2020.

For your inquiries, please email us at or

Thank you. Know that we value your patronage and confidence in us.

PNB New York Management


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We write to express our sincerest apologies for the temporary unavailability of our services from April 10 to 11, 2018. The said incident was due to the system maintenance activity we were conducting.

Please be assured that we have addressed the concern and our services have normalized.

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