Ultimate Guide to Pag-IBIG Housing Loans

Table of Content

• Purchase of Lot or Purchase of Residential Unit:
• Wait for your Notice of Approval (NOA)/Letter of Guaranty (LOG) and sign your loan documents.
• What can you purchase with your borrowed money from Pag-IBIG?
• Submit your HLA and pay the processing fee
• The Pag-Ibig Fund Can Help You Make the Switch to Solar Power
• Tips Before Applying for a Pag-IBIG Housing Loan
• Apply with a co-borrower

Member must be not more than 65 years old and insurable by the time a loan application is lodged. Also, the member applicant must be not more than 70 years old at the maturity of the loan. Pag-IBIG Fund members can apply for loans of up to a maximum amount of P6 million, although loans amounting to P3 million and above are limited by Pag-IBIG’s annual funding allocation. If you’re afraid you might not be qualified due to insufficient income, convince someone with a regular job and good credit history to take you as a co-borrower. Make sure your credit score is up-to-date, accurate, and isn’t tarnished by unpaid debts.

My salary is 40thousand pesos more or less. You figured that it’s about time that you apply for that Pag-IBIG Loan after all those years of faithful contributions to the Pag-IBIG Fund. Do you want to expedite the acceptance of your home mortgage? Try collaborating with a loan brokerage firm. Mortgage brokers are experts that provide substantial monetary assistance to house purchasers. They also make the process of buying a house easier by assisting you with the documentation and removing the need for you to speak with several lenders.

Purchase of Lot or Purchase of Residential Unit:

As per rule of the Pag-IBIG Fund, members who have faced foreclosures can get any loan again. But since you were able to redeem it, you might have a chance. Please talk with the supervisor if you are denied once again. There are factors to be considered in determining your loan qualification.Please visit the Pag-IBIG office.

May kailangan bang ifill-up yung friend ko overseas to avail the loan or dito lang sa phils.yun kailngan gwin if may representative naman sya? Prob nya kasi may naiwan pa daw syang 2yrs unpaid calamity loan, magkakaproblem ba sya pag nag-avail sya ng housing loan?. In my case naman, ive been a pag-ibig member for 5yrs.now, what should i do to avail the housing loan?. I am writing this letter to you just to ask you if i can get a housing loan ng pag ibig? Di ko lang alam f nakaabot ba ako ng 12 months contributions kasi i am working at the hospital from 1993 to 1999 then i resigned nag abroad till now. This is also my concern na d ko masasagot f bakit at d na lang ako nag ask ng aming hospital kc last minute na akong nag ask.

Wait for your Notice of Approval (NOA)/Letter of Guaranty (LOG) and sign your loan documents.

The Pag-IBIG Fund's most popular program is its housing loans, which assist its members by providing affordable finance for their housing needs. HDMF achieves this through collaborating with local real estate developers and offering cheap loans for home purchasers (Pag-IBIG members). Established in 1978, the Home Development Mutual Fund or the Pag-IBIG Housing Fund, is a government-owned agency under the Human Settlements and Urban Development department.

I am an ofw and i was only paying the 200 pesos contribution for 2 years now. I understand the policy of contribution as against the loanable amount..my question is,how can i avail a housing loan worth 1.5M? How much contribution should i pay now,for how long,before i can avail the desired loan amount? The NOA will be released only to the borrower or, for OFW borrowers, to the attorney-in-fact. If an application is not approved, the borrower will receive a Notice of Disapproval instead. Upon receipt of your NOA, sign your loan documents and submit within 90 days.

What can you purchase with your borrowed money from Pag-IBIG?

I own a house in San Mateo Rizal Philippines and have a 1 hectare of land that I want to build a house in Lugsad, Calabanga Camarines Sur. I am a US citizen and living in Raynham, MA. How can I get a loan at pag-ibig to finance the house I am planning to build in Bicol? The loan amount will be based on both the appraised value and your net disposable income. If all is well with your property and your documents, it should not take more than a month for your loan to be released, though that depends on other factors also. I would suggest that you attend the Pag-IBIG seminar.

I am planning to buy a house and lot in Bicol. I received an offer from a resident and he gave the amount of the property. Pag-IBIG is very strict with the membership requirement. The loan applicant must be at least 24 months active member. Your husband’s salary is only one of the factors that they consider. How much po ang equivalent ng 24 months conttribution ?

The new rule of Pag-IBIG requires that for a member to apply for a housing loan, he must first be at least 24 months active. Instead of rushing to get a housing loan, it’s better to be aware that not all who apply for a housing loan also get approved. There are just so many factors to consider. Just want to confirm if i can still get another housing loan even if i still have existing loan from pag ibig. Terms are also flexible if you choose to get a home loan from a bank. For example, some banks allow borrowers to pay amortizations for up to 20 years.

For the Construction of House/Home ImprovementProceed to the BIR for payment of Documentary Stamp Tax. For Purchase of House and Lot Mortgaged with Pag IBIG FundProceed to the BIR for payment of Capital Gains Tax and Documentary Stamp Tax. The BIR will issue the Certificate Authorizing Registration. Proceed to the Local Government Unit for payment of Transfer Tax.

I only have a contract to sell document on this lot. I have been a member of Pag ibig for 9 years. First, the title of the lot has to be in the name of your husband, otherwise Pag-IBIG won’t consider that as collateral.

However, they must have a stable source of income and a spotless credit history to improve your chance of getting your loan approved. Assess your finances to figure out how much you can realistically shell out for your monthly mortgage payment. It shouldn’t exceed 30% of your gross monthly income. For example, if your gross pay is PHP 45,000 a month, your monthly home loan payment shouldn’t be more than PHP 13,500.

But as per the pag-ibig checklist of requirements, the TCT/CCT is required to be under my name? How can i go about this since i am applying for the loan in order to pay my property in full? I’m confused with these contradicting statements. I’m now currently paying my condo thru my bank and it will considerably lighten my load if i can avail the pag-ibig housing loan. Hope you can enlighten me and provide advise on how i can do this.

Employment tenure means income stability and the capability to pay off your housing loan. If you choose this, you need to issue and submit 12 post-dated checks to the Pag IBIG Fund upon loan release. These checks will cover 1-year monthly amortization. Take note that LOG is not applicable to housing loans intended for house construction or home improvement.

PAG-IBIG Home Improvement Loan

You may get your checklist online, or at the Servicing Department, 2nd floor, JELP Business Solutions Building, Shaw Boulevard, Mandaluyong City or any provincial branch office . The most important thing is to make sure that you understand your total obligation and not be caught in a situation where you’re paying for more than what the property is worth. Applying for a home loan in the Philippines is a fairly easy and straightforward process.Tons of banks and financial institutions can provide you home financing options. Filipinos have the opportunity to apply for a home loan from PAG-IBIG or their trusted bank.

I hope you have the time to read this reply. Thanks for posting your questions very clearly. If you can use a bank loan, go for it… that should be easier for this type of property and situation. I’m afraid you may be denied the loan when you apply. Pag-IBIG is very strict when it comes to showing the documented income. A Home Improvement Loan is a complicated process requiring a lot of documents like House Design, Bill of Materials, etc.