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The common alternative to housing loans from local banks, Pag-IBIG loans are not too difficult to qualify for and are also easy to apply for.

Home Development Mutual Fund (HDMF) loans- more popularly known as the Pag-IBIG loans-are also recognized as a type of “salary loan.” This is in reference to the amount an applicant is eligible to borrow is dependent on the Pag-IBIG member contributions he or has made during their employment.

Designed to help working Filipinos, even minimum wage earners who are contributing Pag-IBIG members have the opportunity of purchasing their own home through the HDMF’s Affordable Housing Program. Presently made payable at a maximum period of 30 years, Pag-IBIG housing loans are indeed an ideal option for low to middle-income earners.

What You Can Apply for

While widely used for the purchase of residential properties, Pag-IBIG housing loans can also be utilized in other ways. The following are all the loan purposes that one can apply for:

  • Purchase (plus the cost of transfer) of a residential lot or adjoining residential lots, at a maximum of 1,000 sqm
  • Purchase (plus the cost of transfer) of a residential house a lot, a townhouse or condominium unit (old or brand new, property mortgaged w/ the Fund, adjoining houses/units) inclusive of a parking slot
  • Building or construction of a house
  • Improvement or renovation of a house
  • Refinancing of an existing housing loan
  • Combining these loan purposes

What You Need

If you are considering applying for a Pag-IBIG Housing loan, the following are the present criteria set by the HDMF:

  • You are an active Pag-IBIG member with at least 24 months of savings
  • You are not more than 65 years old at the date of the loan application and are not more than 70 years old at the date of loan maturity
  • You have the legal capacity to acquire and encumber real property
  • You have no Pag-IBIG housing loan that is foreclosed, canceled, bought back, or voluntarily surrendered
  • If you do have an existing Pag-IBIG Housing account or Short-Term Loan (STL) however, payments of these must be updated

What to Do

After meeting all of the aforementioned criteria, you will be able to apply for your Pag-IBIG housing loan through five simple steps:

1. Refer to the HDMF’s list of requirements:

  • Housing loan application
  • Vicinity map of the property the loan will be used for
  • The specific requirements based on your loan purpose
  • Proof of Income
  • Updated Tax Declaration and Tax Receipt
  • Valid IDs
  • Certified True Copy of Title
  • Special Power of Attorney (SPA) *if applicable

2. File your Pag-IBIG loan application

You can complete the form online by going to the Pag-IBIG website and selecting ‘Housing Loan Application’ under ‘E-Services’.

You may also opt to fill and submit the form at Pag-IBIG’s office at the Jelp Business Solutions Bldg. along Shaw Blvd. in Mandaluyong City or at any Pag-IBIG branch near you.

3. Receive Notice of Approval (NOA)/ Letter of Guarantee (LOG)

After 17 working days, you can follow up and claim your NOA at Pag-IBIG.

The NOA is only released to borrowers, or to the Attorney-in-Fact for OFW borrowers who provide a Special-Power-of Attorney (SPA).

4. Accomplish the NOA Requirements

For your loan proceeds to be released, subsequent loan documents must be signed and submitted. You have 90 days to complete the following requirements, which will be based on what you apply for a Pag-IBIG loan for:

A. For the purchase of a House and Lot/Condominium Unit/Vacant Lot

  • Provide the seller with the LOG
  • Pay the associated Capital Gains Tax and Documentary Stamp Tax to the Bureau of Internal Revenue (BIR), who will issue the Certificate Authorizing Registration
  • Pay Transfer Tax to the Local Government Unit (LGU) where the property is located
  • Transfer the property title and annotation of mortgage via the Registry of Deeds
  • Return to the LGU for the transfer of Tax Declaration
  • Submit these to the Pag-IBIG Fund

B. For the purchase of a House and Lot mortgaged with Pag-IBIG Fund

  • Pay the associated Capital Gains Tax and Documentary Stamp Tax to the BIR,
  • Pay Transfer Tax to the LGU
  • Transfer the property title and annotation of mortgage via the Registry of Deeds
  • Return to the LGU for the transfer of Tax Declaration
  • Submit these to the Pag-IBIG Fund

C. For House Construction / Home Improvement

  • Pay the associated Capital Gains Tax and Documentary Stamp Tax to the BIR
  • Pay Transfer Tax to the LGU
  • Transfer the property title and annotation of mortgage via the Registry of Deeds
  • Return to the LGU for the transfer of Tax
  • Submit these to the Pag-IBIG Fund

D. For Refinancing

  • Submit the LOG and Loan and Mortgage Agreement (LMA) to the financial institution that owns the loan which will be refinanced
  • Annotate the mortgage via the Registration of Deeds
  • Submit these to the Pag-IBIG Fund

5. Receive Released Loan Proceeds

Once you complete and submit all your loan requirements, the Pag-IBIG loan you apply for will be released to the ‘payee’. This can be you (the borrower), the seller, or a third-party. Whoever is designated to receive the proceeds will be determined by you, the borrower.

For more information about Pag-IBIG loans or the HDMF, visit www.pagibigfund.com.ph.

Need someone to assist you with your home loan application or the entire home buying process in general? Visit Ohmyhome for the best and latest in new properties for sale and to connect with a real estate agent you can trust.

Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down the choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates. 

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.

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