About Pag ibig Housing Loan Program
About Pag-IBIG Housing Loan Program
Pag-IBIG housing loan program is the best and No. 1 benefit of Pag-IBIG. This program has helped many Filipinos here and abroad realized their dream of buying a home for their family.
What is the Pag-IBIG Housing Loan Program?
This program aims to help Pag-IBIG members acquire a house and lot or lot only with lower interest rates compared to Bank Financing Loans.
What are the Two (2) Ways of Applying a Housing Loan?
There are two (2) ways of applying for a Pag-IBIG housing loan:
- Developer-Assisted - House Developer assists the member in his/her housing loan application. This refers to housing projects offered for sale by Developers that requires a downpayment or equity.
- Retail - the member applies directly to Pag-IBIG Fund and process the loan by himself. He will transact directly with Pag-IBIG Fund office. No Developer is involved in this transaction.
What are the Guidelines of Pag-IBIG Housing Loan Program?
Presently, these are the 2 guidelines that Developer or Individual Applicant refer to when applying for a housing loan.
1. Pag-IBIG Circular No. 310 – Amended Guidelines on the Pag-IBIG Fund End-User Home Financing Program
These guidelines apply to housing loan with loan value up to Php 6,000,000.00
This is applicable for houses bought from a Developer (Developer-assisted loan) or if house is bought from other sources and you will directly or personally apply the loan with Pag-IBIG.
2. Pag-IBIG Circular No. 312 – Guidelines on the Pag-IBIG Fund Affordable Housing Program
These guidelines apply to housing loan with loan value up to Php 750,000.00 only
This is also applicable for houses bought from a Developer (Developer-assisted loan) or if house is bought from other sources (not Developer) and you want to directly or personally apply the loan with Pag-IBIG. With maximum loan amount is Php750,000.00
For better understanding, please read more:
Pag-IBIG Circular No. 310 – http://www.pagibigfund.gov.ph/
Pag-IBIG Circular No. 312 –http://www.pagibigfund.gov.ph/
What Are The Loan Purposes?
Circular No. 312 - For Affordable Housing up to Php 750,000.00 Maximum Amount:
The Pag-IBIG housing loan may be used to finance any one of the following:
- Purchase of a fully developed residential lot or adjoining lots not exceeding 1,000 square meters;
- Purchase of a residential house and lot, townhouse or condominium unit which may be;
- Old or brand new
- A property mortgaged with Pag-IBIG Fund
- An acquired asset
- Construction or completion of a residential unit on a lot owned by the member.
Circular No. 310 - For End-User Home Financing up to Php 6,000,000.00 Maximum Amount:
The Pag-IBIG housing loan may be used to finance any one or a combination of the following:
- Purchase of a fully developed lot or adjoining lots not exceeding one thousand square meters (1,000 sq. m.), which should be within a residential area;
- Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot, which may be:
- Old or brand new;
- A property mortgaged with the fund;
- An acquired asset; or
- Adjoining houses and lots / townhouses / row houses / condominium units.
- For retail housing loans, the subdivision where said residential units are located must have complied with all the required facilities pursuant to PD No. 957 and BP No. 220.
- Construction or completion of a residential unit on a lot owned by the member;
- Home improvement, i.e. any alternation in an existing residential unit intended by a homeowner to be a permanent integral part thereof, which will enhance its durability and material value;
- Refinancing of an existing housing loan with an institution acceptable to the Fund; provided that, the account reflects a perfect repayment history for at least one (1) year prior to date of application as supported by the borrower’s official receipts.
- Combination of loan purposes shall be limited to the following:
- Purchase of a fully-developed lot not exceeding one thousand square meters (1,000 sq. m.) and construction of a residential unit thereon;
- Purchase of a residential unit, whether old or new, with home improvement;
- Refinancing of an existing mortgage with home improvement; or
- Refinancing of an existing mortgage, specifically a lot loan, with construction of a residential unit thereon.
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Pag-ibig Houses in Cavite▲
How to Buy▲
Step 1 – Contact us
Step 2 – Site visit
Step 3 – Reserve a Unit
Step 4 – Pay monthly DP/Equity
Step 5 – Personal appearance
Step 6 – Submit requirements
Step 7 – Loan process
Step 8 – Loan take-Out
Step 9 – House inspection
Step 10 – Move-in
Required Upon Reservation▲
- 2 Valid Government ID
- Valid ID / Job Contract
- Latest one (1) month payslip
- Valid ID
- Latest financial Statement
- 4 pcs. 1 x 1 ID picture
- Birth Certificate (if single)
- Marriage Certificate (if married)
- Death Certificate (if widow / widower)
- Proof of Billing Address
- Certificate of Tenancy
- Valid ID of Landlord (if renting)
- 2 Valid ID (Government issued)
- Approved MSVS
- Special Power of Attorney
- Valid ID of Atty-in-fact
- Residence Certificate/ Cedula
- Postdated Checks (DP & Amortization)
HDMF or Home Development Mutual Fund Pag-IBIG Housing Loan Program Courtesy by Pag-ibig.