Eager to know the easy steps to borrow a fund through Pag-Ibig loan application for OFW? Know the requirements, access form, and monitor your membership through online verification. If you are an OFW planning to buy a house and lot and looking for tips and ideas to increase the changes for Pab-Ibig Home Loan application, whether through online or walk-in, here’s your complete guide.

Pag-Ibig Home Development Mutual Fund (HDMF) was created for OFW members to afford housing loan after being a contributor of 24 months. Nevertheless, an individual should also show proof of employment as one of the proof that you’re eligible for Pag-Ibig Home Loan.

Am I qualified for Pag-Ibig Housing Loan?

For you to be qualified on acquiring Pag-Ibig housing loan, you shall fulfill the following requirements;

  1. 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.
    1. 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.
    2. A member whose loan exceeds ₱500, 000.00 shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.
    3. A member who has contributed for at least two (2) years and whose loans exceed ₱500,000.00 shall be required to pay the upgraded contribution rates upon housing loan approval and onwards.
  1. You should be 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;
  2. You should have legal capacity to acquire and encumber real property;
  3. You should passed satisfactory background/credit and employment/business checks of the Pag-Ibig Fund;
  4. You shall have no outstanding Pag-Ibig housing loan, either as a principal borrower or co-borrower;
  5. You shall not have any 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; and
  6. You shall not have any 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.

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How can I apply for a Pab-Ibig Home Loan Online?

If you’re an interested applicant and desires to apply online, here are the following guidelines;

  1. Apply online by going to this website.
  2. You shall provide your Pag-Ibig MID/RTN.
  3. Prepare the following requirements;
    1. Housing Loan Application w/ recent ID Photo
    2. Proof of Income
    3. One (1) Valid ID
    4. Transfer Certificate of Title (TCT)
    5. Updated Tax Declaration and Update Real Estate Tax Receipt
    6. Contract-To-Sell
    7. Vicinity Map
  4. Pag-Ibig will inspect the property as well as the individual who have applied for this loan, this is to see if the applicant is deemed fit the loan that will be given. The processing time may take around 20 days after the submission of requirements.

Online Application Step-by-Step

What is the maximum amount can I loan in Pag-Ibig?

If you’re a Pag-Ibig member, you can borrow up to maximum of ₱6, 000, 000.00, but this still depends on your capacity to pay.

What are the housing loan rates and computation?

Loan Amount3 Years5 Years10 Years15 Years20 Years25 Years30 Years
Up to 6M PHP6.985 (%)7.825 (%)8.775 (%)9.385 (%)9.675 (%)10.000 (%)11.375 (%)

What are the types of Products in Pag-Ibig?

Your loan can be used in various ways. You can buy;

  • Residential Area
  • Condominium Unit and its parking slot
  • A lot that needs to go under construction
  • Refinance existing
  • Improve your previously owned unit

What happens after I get the loan?

After getting the loan, you will get a NOA or LOG, Notice of Loan Approval and Letter of Guaranty respectively. After 90 calendar days, you’ll have to give this document to the property seller and pay the necessary Capital Gains Tax at BIR. You will receive a Certificate Authorizing Registration.

After which, you’ll have to proceed to the Registry of Deeds for transferring of title and present the tax clearance, mortgage contract and BIR documentary stamps.

You’ll have to Pag-Ibig right after to submit these documents and have the loan funds released.

  • Original Transfer Certificate of Title (TCT) in the name of the borrower with mortgage annotation on it;
  • Deed of Absolute Sale (DOAS) with original stamp from the Registry of Deeds;
  • New Tax Declaration in the name of the borrower;
  • Updated Real Estate Tax Receipt for Lot;
  • Updated Real Estate Tax Receipt for House (if applicable);
  • Occupancy Permit from the Engineering office;
  • Assignment of Loan Proceeds (this document will be from Pag-Ibig);

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emdhie donoso
emdhie donoso

Need pa ba ng collateral?

Kaylee

Hi Emdhie no need a collateral only a proof of income but if you loan for bigger amount and your salary is not enough to cover it they ask you to you to ha have a co borrower.

Anna
Anna

Paano po Ako mag apply ng housing loan na ditto po Ako sa US?