How to Avail Pag-ibig Housing Loan

Most Filipinos are homeless and just renting an apartment. They have no enough money to construct their own house. Some of them are trying to get help either from Bank or Pag-ibig to finance their house. One of the benefits of employees is to availing housing loan on Pag-ibig.

Pag-ibig Housing Loan Application Steps:

1. Attend seminar about the housing loan application and they give you a checklist
2. Prepare all the documents needed in 3 set of copies and compile them in folder.
3. Fill out all details correctly and honestly.
4. Wait for the Notice of Approval if your loan was approved.
5. They will contact you in case there are additional documents required.

Here are the following requirements to avail Pag-ibig Housing Loan:

• You should be a Pag-ibig active member and have a contributed of at least 24 months of contribution which is equivalent to 2 years contribution. If you are no longer active member, just resume being active and you can apply. If you are a new member, pay lump sum payment to complete the 24 months contribution and submit the Pag-ibig Fund Receipt (PFR) upon filing of housing loan application.
• You should attend a seminar about your housing loan application. The seminar will discuss all the processing steps and tackled all requirements and points about the loan application.
• You have to submit 3 sets of the following requirements
  o    Housing loan application with recent 1×1 photo
  o    Membership Status Verification Slip with 2 valid ID photocopy
  o    Proof of income documents

For Locally Employed, any of the following:

1. Notarized Certificate of Employment and Compensation (Employer’s Format) and for government employees 1 month payslip, within 3 months prior to the date of loan application
2. Latest ITR for the year immediately preceding the date of loan application – attach W2 form, stamped received by the BIR/Certificate of Tax Withheld (BIR Form 2316)

For Self-employed / Other Sources of Income, any of the following:

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 or derived from foreign remittances, pensions, etc.)
4. Copy of Lease of 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 (PUVs)
6. Certificate of engagement issued by owner of business
7. Other document that would validate source of income or funds

For 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 certified/initiated by Pagibig Fund Information Officer assigned in the country where the member works.
3. Other Proofs of Income, whether original or photocopy, shall be duly certified/initiated by Pagibig Fund information officer assigned in the country where the member works.

• You should also have a photocopy (back-to-back) of 1 primary valid ID of Principal Borrower and Spouse, Co-borrower and Spouse, Seller and Spouse and Developer’s authorized representative and Attorney-in-Fact, if applicable
• Submit Authorization to conduct credit/background investigation
• A Special Power of Attorney is needed for OFW’s 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.  If SPA is without the Red Ribbon of Consulate Office, the SPA must duly stamped notarial seal.
• Health Insurance Coverage
  o    Health Statement Form (Medical Questionnaire)
      OFW members over 60 years old
      Loans over 2M pesos to 6M pesos and for borrowers aged up to 60 years old
  o    Health Statement Form (Medical Questionnaire and Full Medical Examination
      Borrowers over 60 years old
• Marriage Contract for all married borrower, co-borrower/s, spouse, family member/s included on the computation of aggregate income.
• Birth certificate of or any proof of relationship, if with co-borrower/s or family member/s included on the computation of aggregate income.
• Certified True Copy of Transfer Certificate of Title (TCT) – from Registry of Deeds
• Photocopy of Updated Tax Declaration and Updated Real Estate Tax Receipt  from Municipal’s Assessor’s Office.
• Submit Location Plan and Vicinity Map
• Approved letter request to re-avail of a Pag-ibig housing loan for members with housing loan that was foreclosed, cancelled, bought back due to default or subjected to dacion en pago

Additional Requirements

• Building plans, specification and bill of materials signed by the Licensed Civil Engineer or Architect and building permit for construction of house and house improvement
• Statement of Account on Outstanding Loan Balance indicating loan purpose for refinancing. Also, submit any of the two; official receipt for the past 12 months subsidiary ledger or any valid proof of payment for the past 12 months.
• Contract to Sell or similar agreement between the buyer and seller for the Purchase of Lot or Adjoining Lots and Purchase of Residential Unit, Townhouse or Condominium Unit inclusive of a parking slot. If the seller is a developer, submit the certificate of registration, license to sell, development permit, and secretary’s certification as well as photocopy (back to back) valid primary ID from Corporate Secretary
• Building plans, specification and bill of materials signed by the licensed civil engineer or architect and building permit for the purchase of lot and construction of house. Also, you have to submit contract to sell, or similar agreement between the buyer and seller. If the seller is a Developer, submit certificate of registration, license to sell, development permit and secretary’s certificate and photocopy (back to back) valid primary ID from corporate secretary