The best home loan calculator in the Philippines puts a bank quote and a Pag-IBIG quote side by side, then shows what happens when the rate resets. The cheapest-looking result is rarely your real cost: most lender calculators show principal and interest only, leave out insurance and fees, and assume the opening rate lasts the whole term. As of 12 October 2026, Pag-IBIG's promo rate is 4.5% fixed for three years, while bank fixed rates mostly sit between 7.0% and 8.75%. The gap looks huge on screen and narrows sharply once the promo reprices in year four.
For the amortization formula and payment tables, see our mortgage calculator guide; this one is about choosing the loan.
Run your numbers now: the free Sabahay home loan calculator covers bank, Pag-IBIG and in-house financing in one place and shows the monthly payment, total interest and the gross income lenders look for.
- Which calculator to trust
- Bank vs Pag-IBIG compared
- October 2026 rates
- Income-to-price table
- Stress test
- Fees, taxes and insurance
- Decision guide
- Worked example
- FAQs
Home loan calculator Philippines: which one should you trust first?
Quick answer: compare a bank and Pag-IBIG, not one lender's tool
Lender calculators from BPI, BDO, Metrobank and Pag-IBIG mostly ask for loan amount, term and fixing period. They do not compare lenders, add insurance and fees, or show the payment after repricing. Compare first, check the winner on the lender's site, then ask for the written disclosure statement: that, not the calculator, is what you will pay.
Two kinds of calculators: monthly amortization vs maximum loanable amount
- Amortization calculator: enter price, down payment, rate and term to get a monthly payment.
- Maximum loanable amount calculator: enter gross monthly income to get the largest loan whose payment fits the lender's cap (35% of gross at Pag-IBIG).
The first prices a specific home; the second sets your search range, so we rebuild it by hand below.
Bank vs Pag-IBIG: what a house loan calculator asks for and what it hides
A bank loan calculator in the Philippines embeds that bank's rules, and Pag-IBIG's embeds its own, so the same ₱3.2M loan returns different answers. Side by side, as of October 2026:
| Item | Pag-IBIG housing loan | Typical bank home loan |
|---|---|---|
| Rate shown | Promo 4.5% (loans up to ₱4.9M) or 5.75% (₱4.9M to ₱10M), fixed 3 years, applications by 31 Dec 2026 | Board rate by fixing period, mostly 7.0% to 8.75% for 1 to 5 years |
| After the fix | Repriced on the repricing period you chose | Repriced, often yearly; BDO uses the highest of three benchmarks |
| Loan cap | ₱10M per borrower (from ₱6M, May 2026) | No peso cap; limited by loan-to-value and income |
| Loan-to-value | 95% up to the economic housing limit, 90% above (Circular 402, 2018) | BPI up to 90%; BDO up to 80% for house and lot, 70% for condos |
| Maximum term | 30 years, not beyond age 70 | BPI up to 30 years; BDO up to 20 for house and lot, 15 for condos, 10 for lots |
| Income test | Payment at most 35% of gross | Commonly 30% to 40% of gross after existing debts; ₱40,000 minimum household income at BPI and Metrobank |
| Who qualifies | 24 posted contributions; not older than 65 at application | No membership; minimum loan ₱400,000 (BPI) or ₱500,000 (Metrobank, BDO) |
| Left out of the result | MRI premium, fees netted from proceeds, repricing | Insurance, DST, appraisal, handling, notarial, registration, repricing |
Rate fixing and repricing periods
Calculators draw a flat payment line, but the rate only holds for the fixing period. Per BDO's May 2026 rate sheet, it then resets yearly at the highest of the 364-day T-bill rate plus 4%, a Bloomberg benchmark plus 3%, or BDO's prevailing rate. Pag-IBIG's promo reprices after three years. Longer fixes cost more upfront: BPI quotes 7.00% for one year and 8.00% for five.
Loanable amount, loan-to-value and loan caps
Banks lend a share of appraised value, not the selling price, so a ₱4M condo appraised at ₱3.7M gets a smaller loan than the calculator suggested. At Pag-IBIG, capacity to pay and appraisal decide the real amount under the ₱10M cap.
The income rule behind the "maximum loan" result
Lenders test against gross income, not net. The old "30% of net income" advice is a cautious budgeting rule, not how lenders assess an application. Existing card and car loan payments count against the same capacity.
Insurance: MRI/SRI and fire cover
Both require Mortgage Redemption Insurance (or Sales Redemption Insurance, depending on the loan) plus fire and allied perils cover. Pag-IBIG's official amortization includes the MRI premium; most calculators leave it out.
Fees and taxes no calculator adds for you
Documentary stamp tax (DST), appraisal, handling, notarial and registration fees all sit outside the monthly figure; the checklist below puts peso amounts on each. Pag-IBIG deducts DST and its fees from the proceeds, so the cash released is lower than the headline loan. For BPI-specific inputs, see our BPI home loan calculator guide.
What rates to plug into a housing loan calculator in October 2026
Each lender's own housing loan calculator defaults to its board rate. In an independent tool, use these dated figures as starting points.
| Lender | Rate (fixing period) | As of |
|---|---|---|
| Pag-IBIG 4PH socialized | 3% for 5 years, extendable by 5 (10 years for Early Bird); homes up to ₱950,000 house and lot or ₱1.8M condo | Jul 2026 |
| Pag-IBIG promo, loans up to ₱4.9M | 4.5% fixed 3 years | Jul 2026 |
| Pag-IBIG promo, ₱4.9M to ₱10M | 5.75% fixed 3 years | Jul 2026 |
| Pag-IBIG standard | 5.75% (1 year), 6.25% (3), 6.50% (5), 7.125% (10), 7.75% (15), 8.50% (20); longer fixings cost more | Sep 2026 (as reported) |
| BPI | 7.00 / 7.25 / 7.75 / 8.00 / 8.00% (1 to 5 years); 10.25% (10 years) | Oct 2026 |
| Metrobank | 7.625 / 8.00 / 8.25 / 8.50 / 8.75% (1 to 5 years) | Jun 2026 |
| BDO | 7.00 / 7.50 / 8.00% (1 / 3 / 5 years, new to BDO; existing clients 0.25 point lower); 9.75% (10 years) | May 2026 rate sheet |
| Security Bank | 7.00 / 7.25 / 7.75% (1 / 3 / 5 years); also reported at 7.25 / 7.75 / 8.25% | Sep 2026 |
Pag-IBIG: promo, 4PH and standard rates
The promo covers new applications filed by 31 December 2026, including the Acquired Assets installment plan for Pag-IBIG foreclosed properties; existing loans cannot switch. Pag-IBIG's own statements from late June to 3 September 2026 (Circular 494) put the end of the 4.5% tier at ₱4.9M; only the first June reports said ₱2.5M. Confirm your tier with Pag-IBIG before budgeting around it. For standard rates, check the official Pag-IBIG Fund site.
Bank board rates by fixing period
BPI's figures come from BPI's own housing loan page (checked 12 October 2026) and Metrobank's from its June 2026 schedule. BDO's figures come from its own May 2026 rate sheet; its 6.00%/6.50% promo covered applications from August 15 to October 31, 2025 and has ended. Security Bank's figures come from a September 2026 cross-bank comparison whose tables disagree, so confirm them with the bank.
Why rates are moving: BSP at 5.0%, inflation at 7.2%
The Bangko Sentral ng Pilipinas has raised its policy rate three times in 2026, most recently to 5.0% on 27 August. September inflation reached 7.2%, and the BSP's August 2026 Monetary Policy Report projects 5.4% for 2027, above target until the third quarter. BPI, Chinabank Research and Fitch Solutions' BMI expect another 25 basis point hike in October. Policy hikes reach bank rates with a lag, so leave room for them; we are not forecasting 2027 bank rates. For application steps, read our Pag-IBIG housing loan guide and home loan Philippines guide.
How much house can your income carry? The 30-35% rule and an income-to-price table
The rule of thumb: payment at 30-35% of gross income
Pag-IBIG's hard cap is 35% of gross income, before tax and deductions; banks commonly use 30% to 40%. Plan at 30%: it leaves room for insurance, condo dues and the rate reset.
Income-to-affordable-price table (bank vs Pag-IBIG promo)
This is the maximum-loanable-amount calculator done by hand. Cash for the down payment and fees is extra.
| Gross monthly income | Bank: max price at 7.75% (stressed at 9.75%) | Pag-IBIG promo: max price |
|---|---|---|
| ₱40,000 | ₱1.83M (₱1.58M) | ₱3.07M |
| ₱60,000 | ₱2.74M (₱2.37M) | ₱4.61M |
| ₱80,000 | ₱3.65M (₱3.16M) | ₱5.44M (loan held at ₱4.9M) |
| ₱100,000 | ₱4.57M (₱3.95M) | ₱6.66M |
| ₱150,000 | ₱6.85M (₱5.93M) | ₱10.0M |
| ₱200,000 | ₱9.14M (₱7.91M) | ₱11.1M (₱10M loan cap) |
Assumptions. Bank: 20-year term, payment at 30% of gross, 20% down, 7.75% (BPI 3-year fix), stress at 9.75%. Pag-IBIG: 30-year term, payment at 35% of gross, 10% down, 4.5% for loans up to ₱4.9M and 5.75% above, ₱10M cap; at ₱80,000 a bigger loan would fall into the 5.75% tier and break the cap. Pag-IBIG figures hold for the promo years only and are not approvals. Computed 12 October 2026.
Enter your own income in the Sabahay loan calculator to compare bank and Pag-IBIG on your numbers. Working abroad? See our OFW housing loan guide.
Stress-test your result: add 2 percentage points before you sign
The +2 point test on a bank loan
Take a ₱3.2M bank loan over 20 years. At 7.75% the payment is ₱26,270. At 9.75% it is ₱30,353, up 15.5% or ₱4,083 a month, and the gross income needed at 30% rises from ₱87,568 to ₱101,175. A 2-point shock cuts the price you can afford by about 13% to 14%.
The Pag-IBIG repricing cliff after year 3
A ₱3.6M Pag-IBIG loan at 4.5% over 30 years costs ₱18,241 a month. After 36 payments the balance is about ₱3.42M. Repriced at 7.5%, roughly the commercial rate implied by Pag-IBIG's own promo comparison, the payment for the remaining 27 years becomes about ₱24,632, a 35% jump. At 7.0% it is ₱23,507; at 6.25%, ₱21,862. Illustrations, not forecasts.
The pass rule: if the stressed payment still sits under 35% of gross income and your emergency fund covers six months of it, the loan passes. If only the promo payment works, the loan is too big.
The cash a loan calculator leaves out: fees, taxes and insurance checklist
These items are paid in cash on top of the down payment or, at Pag-IBIG, deducted from the loan proceeds.
| Cost | Typical figure | Source |
|---|---|---|
| Documentary stamp tax | 0.75% of principal; ₱24,000 on ₱3.2M | NIRC Sec. 179 (TRAIN) |
| Appraisal | ₱4,000 in town, ₱4,500 out of town | Metrobank, May 2026 |
| Handling or processing | ₱7,000 at Metrobank; ₱5,000 to ₱10,000 or 0.5% to 1% elsewhere (indicative) | Metrobank; third-party guide |
| Title verification | ₱1,000 per title | Metrobank, May 2026 |
| Notarial and registration | ₱400 per notarized document; registration per Register of Deeds; ₱20,000 to ₱80,000 combined by value (indicative) | Metrobank; third-party guide |
| MRI/SRI and fire insurance | Mandatory; premium per lender quote | Pag-IBIG and bank terms |
| Prepayment | ₱7,500 processing at Metrobank; 1% to 3% of balance at some banks in years 1 to 5 | Metrobank; third-party guide |
Worked estimate on a ₱3.2M bank loan: ₱24,000 DST, ₱4,000 appraisal, ₱7,000 handling, ₱1,000 title verification and ₱20,000 to ₱80,000 for notarial and registration add up to ₱56,000 to ₱116,000 before insurance, about 1.8% to 3.6% of the loan. The lender's published fee schedule and disclosure statement govern. At Pag-IBIG, read the Schedule of Loan Deductions to confirm net proceeds before you promise the developer a balance.
Ask every lender four things: the repricing formula after the fix, any prepayment penalty and how long it lasts, who pays the insurance premiums and when, and which fees come out of the proceeds.
Bank or Pag-IBIG? A simple decision guide
Choose Pag-IBIG first if...
- You have 24 posted contributions and are not older than 65.
- The loan fits the ₱10M cap and you want the lowest starting payment.
- You qualify for 3% 4PH financing: gross monthly income up to ₱47,855 (NCR) or ₱34,685 (elsewhere) and a home within ₱950,000 (house and lot) or ₱1.8M (condo).
- You can file by 31 December 2026 to get the promo rate.
Choose a bank if...
- The Pag-IBIG cap or loan-to-value does not cover the property.
- You are not a member, or cannot wait the reported 20 working days from complete documents to Pag-IBIG approval.
- You want a long fix for certainty; BPI offers up to 20 years, at 12.00%.
- Your household income clears the ₱40,000 floor at BPI or Metrobank.
Can you combine them?
Not in the usual sense, because one loan takes the property as collateral. The realistic combination is sequencing: take the Pag-IBIG promo now, then compare a bank refinance when it reprices, counting fees and penalties. Judge total interest over the years you expect to keep the property, say 7 to 10, not 30.
Worked example: a ₱4 million condo in Metro Manila, two ways
A ₱4M Metro Manila condo, run through both paths at October 2026 rates:
| Item | Bank path | Pag-IBIG promo path |
|---|---|---|
| Down payment | 20% = ₱800,000 | 10% = ₱400,000 |
| Loan | ₱3.2M | ₱3.6M |
| Rate and term | 7.75% fixed 3 years, 20-year term | 4.5% fixed 3 years, 30-year term |
| Monthly payment | ₱26,270 | ₱18,241 |
| Gross income needed | About ₱87,600 at 30% | About ₱52,100 at 35% |
| Stressed payment | ₱30,353 at 9.75% | About ₱24,632 at a 7.5% reset after year 3 |
| Total interest | About ₱3.10M if 7.75% held for 20 years | About ₱2.97M if 4.5% held for 30 years; about ₱5.04M with a 7.5% reset after year 3 |
The Pag-IBIG path needs about ₱35,000 less monthly income and ₱400,000 less cash at signing. The bank path finishes ten years sooner and starts closer to where a reset might land. Pick the one whose stressed payment you can still carry. Also negotiate: Leechiu Property Consultants counted a record 82,900 unsold Metro Manila condo units in Q2 2026, about 34 months of supply (easing to about 80,000 units and 28 months in Q3), so ask for discounts or longer down payment terms.
Use the Sabahay loan calculator to run your own numbers
Open the Sabahay home loan calculator, enter the price, down payment, term and fixing period, and pick a Pag-IBIG or bank preset. Read the payment, total interest and income needed, then model a rate reset and read them again. If the numbers still work, request written disclosures from two or three lenders and browse homes for sale in the Philippines in that price band.
Estimates only; your lender's written quote prevails. Last updated 12 October 2026; we will refresh this guide after the BSP's October and December meetings and when the Pag-IBIG promo ends.
Frequently Asked Questions
How do I compute my monthly home loan payment in the Philippines?
Use PMT = P × r ÷ (1 − (1 + r)^−n), where P is the loan, r the annual rate divided by 12 and n the number of months. ₱3.2M at 7.75% over 20 years is ₱26,270 a month. That covers principal and interest only, not insurance or fees.
How much salary do I need for a ₱3 million housing loan?
At a bank charging 7.75% over 20 years, ₱3M costs ₱24,628 a month and needs about ₱82,100 gross at a 30% limit. On the Pag-IBIG promo at 4.5% over 30 years it costs ₱15,201 and needs about ₱43,400 gross at the 35% cap. Estimates as of October 2026.
Is a Pag-IBIG loan cheaper than a bank home loan?
On starting rates, yes: 4.5% or 5.75% fixed for three years on applications filed by 31 December 2026, against bank fixed rates of mostly 7.0% to 8.75%. The catch is repricing: at an illustrative 7.5% reset after year three, a ₱3.6M loan goes from ₱18,241 to about ₱24,632 a month.
What is the 35% rule for housing loans in the Philippines?
Pag-IBIG limits the loan so the monthly amortization does not exceed 35% of gross monthly income. Banks commonly use 30% to 40% of gross. For safety, plan at 30% and stress the payment by 2 percentage points.
What costs does a home loan calculator not include?
Mandatory MRI or SRI and fire insurance, documentary stamp tax of 0.75% of the loan, appraisal, handling, notarial and registration fees, prepayment fees, and the rate reset after the fixing period. Pag-IBIG deducts its fees and DST from the loan proceeds.
Will home loan interest rates go up in 2027?
Nobody can say for certain. As of 12 October 2026 the BSP policy rate is 5.0% after three hikes this year, September inflation was 7.2%, and the BSP projects 5.4% inflation in 2027. Several analysts expect another hike in October. A longer fixing period reduces your exposure; we do not predict bank rates.
What is the maximum Pag-IBIG housing loan and how long can I borrow?
₱10 million per borrower since May 2026, up from ₱6 million, payable over up to 30 years but not beyond age 70. You must be no older than 65 at application with 24 posted contributions, and approval depends on capacity to pay, appraisal and credit evaluation.
