Some of my fellow VAs are getting approved for loans. Did something change?

TL;DR: Yes—there have been changes. Major banks and Pag-IBIG are now more open to giving loans to VAs and freelancers, as long as you have solid proof of income and documentation. If you’ve been consistent with your work and finances, you’ve got a real shot!

Hey! Yup, there have been some changes over the past few years. Major banks and government housing programs like Pag-IBIG (HDMF) are starting to be more open to freelancers, remote workers, and online professionals like VAs. Here’s what’s likely going on:

1. Major banks or Pag-IBIG (HDMF) are now more flexible with non-traditional income sources and documents.
* In the past, if you didn’t have a corporate job with payslips, banks would usually turn you down. But things are different now—many institutions are starting to recognize freelance work and online jobs. They now accept alternative proof of income like remittance records, bank statements, contracts with international clients, and even PayPal or Wise.com transaction histories.

2. You’ll still need documentation for major banks or Pag-IBIG.
* Even as a freelancer or VA, you need to show consistency and financial stability. Common requirements include:
* At least 1 year of income history

* Bank statements for the past 1 year

* Valid government ID

* Proof of billing

* Certificate of Employment or Certificate of Engagement (like signed contracts or agreements with your clients)

3. Some major banks are more accommodating than others.
* While not all banks are equally flexible, many are now more open to VAs, freelance and other digital professionals, especially if you’ve maintained a good relationship with them or hold an account there. Pag-IBIG is also a solid option if you’ve been consistently contributing as a member.

4. Your colleagues may have maintained a good credit standing.
* Maybe they’ve been saving consistently, kept their bank accounts healthy, or even consulted loan officers or experts to help package their application properly. Those steps can really boost your chances of getting approved.

Bonus tip: To make things smoother, reach out to a licensed real estate broker. They can assist with your inquiries, connect you with developers, and help coordinate with banks or Pag-IBIG to get the full list of requirements. Having someone experienced on your side can save you time and prevent costly mistakes.