ANDREW TAMPUS

Pag-IBIG Housing Loan Requirements

Eligibility Requirements

 

To qualify for a Pag-IBIG housing loan, a member shall satisfy the following requirements:
 

  1. On Pag-IBIG Membership
    • Must be a member under the Pag-IBIG I, Pag-IBIG II or Pag-IBIG Overseas Program (POP) for at least twenty-four (24) months, as evidenced by the remittance of at least 24 monthly contributions at the time of loan application.
    • A member with less than the required number of contributions applying for a Pag-IBIG housing loan shall be allowed to make lump sum payment based on the mandatory monthly membership contribution rates (both EE and ER share) to meet the said requirement at point of loan application provided he has been a contributing member of the Fund for at least twelve (12) months. Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the payment date.
    • A member whose loan exceeds P500,000.00 shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.
    • A member who has contributed for at least two (2) years and whose loans exceed P500,000.00 shall be required to pay the upgraded contribution rates upon housing loan approval and onwards. 

      For purposes of satisfying the required two (2) years membership contributions, the member may opt to pay in lump sum any amount short of the said requirement. In addition, the period corresponding to the TAV applied earlier to an outstanding loan shall also be considered when counting the total number of monthly contributions, provided the remaining TAV after offsetting does not fall below the equivalent amount of two (2) years membership contributions.
  2. Not more than sixty-five (65) years old at the date of loan application and must be insurable; provided further that he is not more than seventy (70) years old at loan maturity;
  3. Has the legal capacity to acquire and encumber real property;
  4. Has passed satisfactory background/credit and employment/business checks of the Pag-IBIG Fund;
  5. Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower; 
    However, should a co-borrower in a tacked loan signify an intention to avail of a Pag-IBIG housing loan for himself, he shall be allowed to do so provided the tacked loan is updated and the amount proportionate to his loan entitlement has been fully paid. Hence, the co-borrower shall be released from the original obligation and shall be allowed to avail of his own Pag-IBIG housing loan, subject to standard evaluation procedures.
  6. Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago, which shall include cases where the borrower is no longer interested to pursue the loan and surrenders the property;
  7. Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application. A member whose multi-purpose loan is in arrears shall be required to pay his arrearages over the counter to update his account.

Processing Fee

  • P1,000 - upon filing of housing loan application with required documents (non-refundable)
  • P2,000 - to be deducted from loan proceeds

Basic Requirements

  1. Pag-IBIG Housing Loan Application Form (PHLAF)
  2. Membership Status Verification Slip (MSVS)

DOCUMENTS REQUIRED UPON LOAN APPLICATION

 

A. Documentary Requirements

 

  1. Housing Loan Application with recent ID photos of borrower
  2. Membership Status Verification Slip
  3. Proof of Income
    3.1 For Locally Employed, any of the following:
    1. Notarized Certificate of Employment and Compensation (Pag-IBIG format)
    2. Notarized Certificate of Employment and Compensation (Employer’s format) and latest one (1) month payslip
    3. Income Tax Return/Certificate of Tax Withheld (BIR Form No. 2316) and latest one (1) month payslip
    3.2 For Self-Employed/Other Sources of Income
    1. ITR, Audited Financial Statements and Official Receipt of tax payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit
    2. Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months)
    3. Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittances, pensions, etc.)
    4. Copy of Lease Contract and Tax Declaration (if income is derived from rental payments)
    5. Certified True Copy of Transport Franchise issued by appropriate government agency (LGU for tricycles, LTFRB for other Public Utility Vehicle or PUVs)
    6. Certificate of Engagement issued by owner of business
    7. Other document that would validate source of income
    3.3 For Overseas Filipino Workers (OFWs), any of the following:
    1. Employment Contract (with English translation if in foreign language)
    2. Original Employer’s Certificate of Income (with English translation if in foreign language). If document submitted is photocopy, it shall be duly validated and certified/initialed by HDMF Information Officer assigned in the country where the member works
    3. Other Proofs of Income, whether original or photocopy, shall be duly validated and certified/initialed by HDMF Information Officer assigned in the country where the member works
  4. Photocopy (back-to-back) of one (1) valid ID of Principal Borrower and Spouse, Co-Borrower and Spouse, and Attorney-In-Fact, if applicable. The same ID must be presented during the conduct of borrower’s validation.
  5.  Authorization to Conduct/Credit Background Investigation
  6. For OFW members, Special Power of Attorney notarized prior to date of departure or duly certified and authenticated by the Philippine Embassy or Consulate in the country where the member is staying, if abroad
  7. Insurance Coverage
    1. Health Statement Form (Medical Questionnaire)
      • OFW members over 60 years old
      • Loans over P2.0 M to P3.0 M and for borrowers aged up to 60 years old
    2. Health Statement Form (Medical Questionnaire) and Full Medical Examination
      • Borrowers over 60 years old
  8. Marriage Contract (For all married borrower/s, co-borrower/s, spouse, family member/s included on the computation of aggregate income)
  9. Birth Certificate or any proof of relationship, if with co-borrower/s or family member/s included on the computation of aggregate income
The Pro-forma Health Statement Form (Medical Questionnaire) is available at the Members Services Support Division-Servicing Department for NCR or at any Pag-IBIG Regional Branch or downloadable from the Pag-IBIG website, www.pagibigfund.gov.ph.

 

B. Technical Requirements

  1. Certified true copy of TCT/CCT by the Registry of Deeds (latest title)
  2. Location Plan and Vicinity Map
  3. Photocopy of Tax Declaration and Real Estate Tax Receipt

 

Additional Requirements Depending on the Loan Purpose

 

For Purchase of Residential Unit, Purchase of Lot and Construction of House, Purchase of Lot

  1. Contract to Sell or similar agreement between the buyer and the seller

 

For Refinancing

  1. Statement of Account on outstanding loan balance, indicating loan purpose
  2. Any of the following documents:
    • Official Receipt for the past 12 months
    • Subsidiary Ledger
    • Any valid proof of payment for the past 12 months

 

For Purchase of Lot and Construction of House, Construction of House, Home Improvement

  1. Building Plans, Specification and Bill of Materials duly signed by the Licensed Civil Engineer or Architect

 

DOCUMENTS REQUIRED PRIOR TO LOAN RELEASE

  1. TCT/CCT in the name of the borrower with proper mortgage annotation in favor of the Pag-IBIG Fund (owner’s copy)
  2. Certified true copy of the TCT/CCT in the name of the borrower with proper mortgage annotation in favor of the Pag-IBIG Fund (RD’s copy)
  3. Photocopy of New Tax Declaration in the name of the borrower and updated Real Estate Tax Receipt
  4. Collection Servicing Agreement with Authority to Deduct or Post Dated Checks, if applicable
  5. Proof of Billing Address

Pag-IBIG Documents

  1. Notarized Loan and Mortgage Agreement (LMA) with original RD stamp
  2. Notarized Promissory Note (PN)
  3. Disclosure Statement on Loan Transaction (DSLT)

Additional Requirements Depending on the Loan Purpose

  1. Occupancy Permit (for Purchase of New Residential Unit, Purchase of Lot and Construction of House, Construction of House, Home Improvement)
  2. Building Plans/Electrical/Sanitary Permits duly approved by building officials (for Purchase of Lot and Construction of House/House Construction/Home Improvement)
  3. Deed of Absolute Sale (DOAS) with original RD stamp (for Purchase of Residential Unit, Purchase of Lot, Purchase of Lot and Construction of House)

 

PAG-IBIG REQUIREMENTS

  1. HDMF Member in good standing for 24 months
  2. Original Copy of MSVS
  3. Summary of HDMF Contributions
  4. Certificate of Employment and Compensation
  5. Latest 1 month payslip
  6. Five (5) pieces 1X1 ID Pictures
  7. Residence Certificate and TIN Number
  8. Proof of Billing
  9. Two valid ID (photocopy)
  10. Photocopy of Birth Certificate or Marriage Contract
  11. Latest Job Contract (for OFW)
  12. Post Dated Checks

 

Other Requirements (if available and needed)

  • passport
  • VISA
  • Seamans Book
  • Special Power of Attorney 

Note:

          Loan applicant/s or his/her/their legal representatative  must attend the Loan Councelling Seminar.

For Direct Loan Application (Retail Account) and Developer Assisted Application (For accounts without buyback guaranty)

1. Housing Loan Application with recent ID photos of borrower (properly 
accomplished and duly notarized) 

2. Income Tax Returns (ITRs) or Certificate of Compensation Payment/Tax 
Withheld (BIR Form No. 2316)1 for the year immediately preceding date 
of loan application, whichever is applicable 

3. Valid Certificate of Employment and Compensation (CEC) duly certified by 
the employer or latest payslip, where applicable (for Pag-IBIG I & II) 

4. Employment Contract or Employer’s Certificate of Income, duly certified 
by the employer (for POP members) 

5. Certified true copy of TCT/CCT/OCT by the Register of Deeds (latest title) 

6. Location Plan and Vicinity Map 

7. Photocopy of Updated Tax Declaration and Real Estate Tax Receipt 

8. Special Power of Attorney, for member/s abroad (SPA must be duly 
certified and authenticated by the Philippine Embassy or Consulate in the 
country where the member is staying) 

NOTE: Upon transfer of Certificate of Title in the name of borrower/s, SPA must be annotated on the title. 

9. Medical Questionnaire and Full Medical Examination (For borrowers over 60 
years old) or Health Statement Form (For POP members over 60 years 
old) 

10. Proof of Billing Address 
  

For Pag-IBIG Express Takeout Window (For accounts covered by buyback guaranty)

1. Housing Loan Application with recent ID photos of borrower (properly 
accomplished and duly notarized) 

2. Income Tax Returns (ITRs) or Certificate of Compensation Payment/Tax 
Withheld (BIR Form No. 2316)1 for the year immediately preceding date 
of loan application, whichever is applicable 

3. Valid Certificate of Employment and Compensation (CEC), duly certified by 
the employer, or latest payslip, where applicable (for Pag-IBIG I & II) 

4. Employment Contract or Employer’s Certificate of Income, duly certified 
by the employer (for POP members) 

5. Certificate of House and Lot Acceptance (Pag-IBIG Fund H8-26) 

6. Individual Transfer Certificate of Title (TCT) covering the subject house 
and lot package with the Deed of Assignment duly annotated thereon 

7. Deed of Assignment with SPA (With Buyer’s Conformity) 

8. Contract to Sell (CTS) 

9. Occupancy Permit 

10. Photocopy of Updated Tax Declaration and Real Estate Tax Receipt 

11. Disclosure Statement on Loan Transaction 

12. Medical Questionnaire and Full Medical Examination (For borrowers over 
60 years old) or Health Statement Form (For POP members over 60 
years old)) 

13. Proof of Payment of Documentary Stamp Tax, if applicable 

14. Proof of Billing Address 

15. Authority to Deduct Loan Amortization with Employer’s Conformity or 
Postdated Checks, if applicable

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