How to Apply for a Pag-IBIG Housing Loan: The Ultimate Guide

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Your No-Fear Guide to

Pag-IBIG Housing Loans

Patulong sa Pag-IBIG

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The Home Development

Mutual Fund (HDMF)

“Pag-IBIG Fund”

Government-mandated housing loan program offers:

Terms

Interest Rates

Affordable Filipinos



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Under the amended guidelines for Pag-IBIG’s End-User Financing Program,

a housing loan may be used to finance any of the following:

Purchase of a fully developed lot or adjoining

lots not less than 24 sq meters and not

exceeding one 1,000 square meters, which

should be within a residential area;



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Purchase of a residential house and lot,

townhouse or condominium unit, inclusive of a

parking slot. The unit may be:

• Old or brand new

• A property mortgaged with the Fund

• Acquired asset

• Adjoining houses and lots/townhouses/

row houses/condominium units.



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Construction or completion of a residential unit

on a lot owned by the member;



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Home Improvement

i.e. any alteration in an existing residential

unit intended by a homeowner to be a

permanent integral part of the property,

which will enhance its durability and

material value



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Refinancing of an existing mortgage

(with an institution acceptable to the Fund, provided

that, the account reflects a perfect repayment history

of at least one (1) year prior to date of application as

supported by the borrower’s official receipts.)



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Combination of loan purposes, which shall

be limited to the following:

• Purchase of a fully developed lot not exceeding 1,000

square meters and construction of a residential unit

• Purchase of a residential unit, whether old or new, with

home improvement

•Refinancing:

- existing mortgage with home improvement

- existing mortgage, specifically a lot loan, with

construction of a residential unit thereon.



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To avail of a Pag-IBIG housing loan

Active Pag-Ibig Member

Loans

• Made regular monthly contribution for at least 24 months

(2 years)

• Paid at least 5 contributions in last 6 months

• Stable source of income/ capacity to pay upon applying,

does not have any outstanding loans/ foreclosed properties

• Can cover up to ₱ 6 M in home financing

• Interest rates depending on application:

Regular

Affordable

Housing Loan Program

8% 12.25%

4.5% 6.5%





Loan Counseling at

Pag-IBIG Office

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Submit HLA with complete

requirements, & pay the

processing fee of P1,000

(non- refundable)

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Receive- Notice of Loan

Approval/ Letter of Guaranty

& Sign loan documents

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Proceed to the following:

-Bureau of Internal Revenue-

for payment of documentary

stamps and capital gains tax

- Registry of Deeds-

for transfer of title and

annotation of mortgage

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Submit the following documents to Pag-IBIG for

release of loan proceeds:

- Original Transfer Certificate of Title (TCT)-in

name of applicant w/ annotated mortgage

- DOAS w/ original RD stamp

- New Tax Declaration-in name of applicant

- Updated Real Estate Tax Receipt (for house and

lot, if applicable)

- Occupancy Permit (secured from LGU

Engineering Office, if applicable)

- Assignment of Loan Proceeds.

You will receive telephone confirmation of

availability of first check.

When claiming loan proceeds:

- Check at local Pag-IBIG office,

Bring: 2 valid IDs to present to Check Release

Controller.

If you cannot claim your check in person:

- have authorized representative present a

notarized Special Power of Attorney (SPA)

- wth 2 valid IDs of you and your attorney-of-fact.



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Pay the first monthly

amortization on month

immediately following the loan

take-out/final loan release.



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Online Services

The online FAQ section is a great starting point for first-timers, while the Pag-IBIG Overseas Program portal helps members locate remittance centers abroad.

Pag-IBIG members may also take advantage of the Fund’s other online services, which allow them to verify the status of their monthly contributions or current housing loan payments.

Employers, short-term loan applicants or prospective Pag-IBIG II enrollees may also carry out the first steps of their respective registration processes via the Internet.



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On Foreclosures

Under the “Maagang Pabahay, Disenteng Buhay” program, Pag-IBIG already has a system in place for members who wish to acquire or assume one of the fund’s foreclosed properties at

a discounted price. You can check the status of Pag-IBIG’s various acquired assets here or click the “Property Finder – Acquired Assets” link on their home page. You may also contact

Pag-IBIG’s Acquired Assets Department by phone.

For those looking to apply Pag-IBIG financing to properties foreclosed by banks or other outside entities, however, the process is a bit murkier. Luckily, Foreclosure Philippines offers

a helpful overview for those considering this route.



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Other Resources

For all other Pag-IBIG-related concerns, one of the most comprehensive resources available online is the Pag-IBIG Financing website (Facebook) for more information on common

housing loan issues.).

Source: www.pagibigfund.gov.ph



6/F, LDM Building (formerly Caresma Building),50 Polaris Street, Poblacion, Makati City, Philippines

+63 2 890 0062

+63 2 890 8352

[email protected]

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