Securing the future: A 2025 guide to property financing options for OFWs

Homeownership is a dream of many Filipinos. This is also true for a lot of overseas Filipino workers who decide to work abroad in order to secure a better future for themselves and their families.

- By CATHERINE TALAVERA

While homes can serve as a symbol of security for families, securing a property can also be a vehicle for investment so that OFWs can grow their hardearned money.

However, buying a home does, of course, come with a hefty price tag, which not everyone can shell out money for right away. Fortunately, there are a number of home financing options that can help OFWs secure a home earlier and maximize the value of their earnings.

Here are financing options that OFWs can consider when planning to buy a home:

Various private banks in the Philippines offer flexible loan packages specifically designed for OFWs who are seeking to finance the purchase of their home. While these types of loans usually entail a lot of documentary requirements, they typically offer higher loanable amounts. That said, bank loans usually work well for OFWs who have a stable income abroad and want faster approvals or higher-value properties.

Additionally, financing through banks also typically offers more competitive interest rates compared to in-house developer financing.