Pag-IBIG Housing Loan Guides and Forms

Owning a home comes with many preparations in all aspects of your life, most especially when it comes to financing. These financial preparations include applying for a housing loan, also known as a mortgage loan. It is a loan used to aid in property purchases. A mortgage is a form of loan used to fund real estate.

One of the most common mortgage loan lenders that Filipinos avail of is Pag-IBIG fund. Pag-IBIG fund is a government-owned Home Development Mutual Fund that offers assistance to its members by providing affordable financing for their housing needs.

A conventional Philippine mortgage consists of making monthly payments for the duration of the loan before the principal and interest are completely repaid. A bulk of your monthly payments will be used to repay interest in the early years of the loan; but, as time passes, a greater proportion of the payments will be used to pay down the principal. The principal is the total amount of the balance on a loan.

It’s important to learn more about how housing loans work and to get familiar with the basic terms.

If you’re interested in the Pag-IBIG housing programs, study and follow this simple guide on how to avail a Pag-IBIG house loan.

Process & Conditions

Who Can Apply?

A Pag-IBIG member who is not more than 65 years old and have remitted 24 monthly contributions under Pag-IBIG I, Pag-IBIG II or Pag-IBIG Overseas Program. An applicant should also not have had a loan that was canceled or foreclosed. Aside from these, they must first pass the satisfactory checks, including one’s background, credit, and employment.

How To Apply?

An applicant must prepare these requirements for application:

• 3 Sets Housing Loan Application with ID photos of the borrower (properly accomplished and duly notarized)
• 3 pcs 1 x 1 ID Picture
• Verified Tax Identification Number
• Employee Statement of Accumulated Value
• Birth Certificate. If Married – Marriage Contract
• Foreign Marriage -Passport Copy of Spouse and 2 Valid ID’s with 3 Signatures
• 2 Valid ID’s (Company/ Passport/ Government ID) Photocopy 3 sets with 3 signatures (If married please
• include Spouse ID; If OFW, Visa ID / Resident Identity Card)
• Notarized Original Certificate of Employment with Compensation ( Local and Private Employer only)
• Photocopy of COEC and Overseas Employment Certificate (OEC) from POEA (OFW). If Original of COEC,
• Provide a Photocopy of Employment
• Contract from Employer (OFW)
• Photocopy of Employment Contract (OEC) from POEA with E-ticket (SEAMAN)
• Original Latest 3 months Pay Slip with the signature of HR/Employer (GOVERNMENT)
• Online Job- Proof of Income Receipt like converted to Philippine Peso like GCASH/ Paypal/ Bank Statement
• Latest 2yrs Bank Statement with Bank Certificate (Online & Commission Basis)
• 2307 and Company Permits (Commission Basis)
• SPA PAG-IBIG Format Red Ribbon or Notarize SPA PAG-IBIG and Photocopy of Passport with proof of entry
• and exit in the Country (OFW)
• Authorization Letter prior to Employment Verification
• Latest Business Permits -Mayor’s Permit, DTI, COR & 3 Years ITR w/ Bureau of Internal Revenue (BIR) Stamp
• and Detailed Business Sketch with Landmark (SELF & LOCAL EMPLOYED)
• Latest 24 Months PAG-IBIG Contribution; Certificate of PAG-IBIG Contribution or Latest Contribution
• Receipt
• Members Data Form (MDF)
• Aside from these requirements, it is a must that a loan counselling must be attended by the potential borrower first.
• Upon the approval and before the loan is released, ocular inspection is held on the property. The legal documents regarding the property should be settled at this step as well. This documents include:
• Individual Transfer Certificate of Title covering the subject house and lot package with the Deed of Assignment duly annotated thereon
• Occupancy Permit
• Tax Declaration
• Updated Real Estate Tax Receipts
• Deed of Assignment (With Borrowers-Buyers Conformity) (HDMF H4-72a)
• Certificate of Acceptance
• Disclosure Statement on Loan Transaction
• Authority to Deduct Loan Amortization, if applicable

At this point, all the work is done and you can now claim your loan check.

Your obligation now is to pay the monthly amortization that was specified in the loan agreement with Pag-IBIG.

Pag-IBIG Housing Loan Programs

Pag-IBIG Housing Loan
Affordable Housing Loan for Minimum Wage Earners

Pag-IBIG can lend up to 6 million pesos. However, the amount that can be lent to potential borrowers will differ depending by whichever is less than the exact amount you need or your loan entitlement. This is dependent on the ability to pay or the loan-to-appraised value ratio. For you to have a general idea of how you can expect your loan to be. Check out Pag-IBIG’s affordability calculator.

To have access to necessary loan availment forms, check them out on the Pag-IBIG website.

Get Closer To Having A Stellar Home WIth Presello

Having a mortgage loan will make any dream to purchase a residential property more possible. So get closer to taking the next steps with Presello! The most trustworthy and reliable real estate advisors in Metro Manila will help you find your next home.

We strive to make a meaningful difference in the lives of all homeowners that choose to work with us, through our years of expertise and knowledge of the real estate market. Contact us right away to schedule a consultation about your next home purchase!