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Sterling Bank of Asia home loan for october 2023

Sterling Bank
Get a home loan at Sterling Bank of Asia. On 03.10.2023 there are 1 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.
Offers: 1
Sterling Bank of Asia
Discovery Home Loan
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
₱500,000 up to ₱10,000,000

Loan term for the financial product

1- 25 years
Sterling Bank mortgage calculator
Calculation of a mortgage loan at any bank
Mortgage amount

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100000 ₱
50000000 ₱
Loan term

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Interest rate

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1 %
50 %
Type of payments

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Home loan application
Home loan amount

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50000 ₱
30000000 ₱
Home loan term

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30 years
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Loan comission
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Sterling Bank of Asia home loan for october 2023

Discovery Home Loan can help you in purchasing any type of home. Whether it's the purchase of a residential lot, a house and lot, a townhouse, a condominium unit, or just renovation, it can be used to cover all these costs.

To apply for this loan, you will have to keep the financed house as collateral. The loan comes with an amount ranging from ₱500,000.00 up to ₱10M or 80% of the home’s appraised value. It also comes with flexible loan terms ranging from 1 to 25 years.

Types of home loans

Conventional home loans

With a Sterling Bank conventional home loan, you're required to make fixed payments over a particular period of time, which makes them ideal for those who want a predictable mortgage payment and want to plan their finances ahead of time.

Flexible home loans

You can choose the interest rate of your flexible home loan according to how much you’ll deposit and start principal repayment at any time with the Sterling Bank of Asia flexible loan.

How to apply a home loan?

  1. First of all, check for your eligibility, and if eligible, continue to the next step.
  2. Gather all the documents you will need to submit when applying for the loan.
  3. Submit all of the required documents to a Sterling Bank of Asia branch. Ask for a copy of the loan application form, or download it online from the bank's official website.
  4. Get your loan application form, documents and requirements checked and evaluated by the bank. Wait for the notice from the bank on if the loan application is successful or not.


To apply, applicants must be Filipino citizens who are older than 21 but not more than 60 years old at the time of application. Applicants must have a combined monthly gross family income of at least ₱40,000. Apart from that, they are required to submit the following documents.

General documents

  • Duly filled loan application form
  • A photocopy of TCTs/CCTs which are offered as collateral
  • A vicinity map, a lot plan, and a tax declaration
  • Tax clearance and RETRs
  • The bill of materials/cost estimates and floor plans (for house construction/expansion/renovation)
  • A copy of two valid IDs, one for the applicant and one for the spouse
  • Marriage contract (for married applicants)
  • Cash or check for appraisal fee which is payable to Sterling Bank of Asia
  • Credit card/utility billing statements for the last three months
  • Statement of account (for loan take-out) and a proof of payment for last three amortizations
  • Authority appraisal

Requirements in post-approval

  • Insurance coverage on the housing unit
  • Mortgage Redemption Insurance (MRI) on applicant
  • Post-dated checks
  • Submission of affidavit for the mortgage of the applicant’s family home

Requirements for self-employed applicants

  • One of the business papers/permits/certificates (could be SEC, DTI, etc.)
  • Three years audited or BIR filed and with in-house financial statements
  • Filled basic business information
  • Bank statements for the last three months before the application date

Requirements for locally employed applicants

  • Income tax return (ITR) for the past two years before the application date
  • ITR of a co-maker (if any) or W-2/BIR Form 2316
  • Certificate of employment (COE) showing compensation data and length of stay in the company
  • Two months payslip

Requirements for OFWs

  • A recent and active certificate of employment (COE) including salary and/or compensation data
  • An ITR, if any
  • Proof of remittances or allotment papers which must come with beneficiary data
  • A copy of the job contract with the applicant’s duties and responsibilities
  • Special power of attorney (SPA)
  • Proof of income (if applicable)

Pros and cons

Before applying for a Sterling Bank home loan, it is advisable to look at the benefits and downsides before finally deciding if it is the right one for you. These are some honest pros and cons of the loan.


  1. The home loan comes with a low-interest rate when compared with its competitors
  2. The bank offers ease of repayment through its flexible terms


  1. The loan tenure offered by the bank is limited
  2. Missed repayments will cause a lot of problems for the borrower

How to repay a Sterling Bank home loan?

Sterling Bank home loans can be paid off using an automatic debit arrangement (ADA) or over the counter, but only in the branch where you obtained the loan and signed the contract. You can track your loan and payments using the Sterling Bank mobile app, while a 5% late payment penalty applies when you miss a payment.


Does my credit history affect my Sterling Bank home loan eligibility?

Your Sterling Bank home loan eligibility is greatly influenced by your credit history, which acts as proof of a responsible repayment of debts. Your credit history is created by combining information from several sources, including government agencies, banks, collection agencies, and credit cards. 

How does the Sterling Bank mortgage calculator function?

You can enter the amount of the loan to calculate the estimated monthly amortization for different terms using the Sterling Bank home loan calculator.