Ultimate Guide to Pag-IBIG Housing Loans

Property Updates

Pag-IBIG Housing Loan, also known as the Pag-IBIG Fund Home Financing Program, is a loan issued in the Philippines by the House Development Mutual Fund (HDMF) or Pag-IBIG Fund. The loan is intended to assist qualifying Pag-IBIG members in financing the acquisition of a house and lot, townhouse, or condominium unit and in financing the building or improvement of their current home.

The Pag-IBIG Home Loan has flexible repayment terms of up to 30 years and a low-interest rate compared to other types of loans. Members can also select between fixed and variable interest rates based on their own preferences and financial position.

Members must have made at least 24 monthly payments to the Pag-IBIG Fund and be under 65 years old at the time of loan application to be eligible for the Pag-IBIG Home Loan. They should also have a consistent source of income and strong credit.

The amount of the loan that a member can borrow is determined by numerous variables, including their ability to pay, the appraised worth of the property, and the loan-to-value ratio set by the Pag-IBIG Fund. Members can borrow up to 80% of the property’s appraised value, with a down payment or security necessary to secure the loan.

Eligible purposes of Pag-IBIG loans

A Pag-IBIG Housing loan program is granted to eligible members who wish to finance any or a combination of the following purposes:

  • Purchase a lot where a house will be built. This property is located in a residential area and does not exceed 1,000 square meters.
  • Purchase of a housing unit. This can be a house and lot, townhouse, or condominium unit. This property can be old or brand-new, financed through Pag-IBIG Fund mortgage, a disposed of property acquired through negotiated sale, public bidding, or housing programs such as Rent-to-Own or the “Magaang Pabahay, Disenteng Buhay”.
  • House construction. This type of loan can be used to fund home renovations, repairs, or remodeling projects.
  • Home improvement. This includes altering an existing residential unit for expansion or enhancing durability by replacing the unit’s roof, walls, or other materials.
  • Refinancing of an existing mortgage. Members who wish to restructure their loan mortgage (reduce interest rates, lower monthly payments, etc.) of a financing agency are acknowledged by Pag-IBIG Fund.
  • Combination of various loans and services. This includes purchasing a residential lot or unit, home improvement and renovation, and refinancing existing housing mortgages.

How much can I loan from Pag-IBIG?

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The amount a member can borrow from the Pag-IBIG Fund is determined by various variables, including membership savings, ability to pay, and the purpose of the loan.

Home acquisition or purchase of a lot

The maximum loan amount is up to P 6 million, depending on the borrower’s capacity to pay and the property’s appraised value.

Home construction or home improvement

The maximum loan amount is up to P 6 million, depending on the borrower’s capacity to pay and the property’s appraised value.

Refinancing

The maximum loan amount is up to 80% of the property’s appraised value.

Combination of home acquisition and home construction

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The maximum loan amount is up to P 6 million, depending on the borrower’s capacity to pay and the property’s appraised value.

Overseas workers program

The maximum loan amount is up to P 6 million, depending on the borrower’s capacity to pay and the property’s appraised value.

It should be noted that these loan amounts are subject to credit evaluation and loan approval by Pag-IBIG Fund. The borrower’s repayment capacity is determined by their gross monthly income and other financial obligations. Furthermore, depending on the type of loan and the borrower’s eligibility, loan terms, interest rates, and other restrictions may vary.

When does Pag-IBIG housing loan start

Pag-IBIG housing loan payment commences immediately a month after the loan has been received by the member-applicant.

Eligible members who can avail of the housing loan

Not every member can avail of this housing loan program. Those interested must meet the following requirements:

  • As Pag-IBIG member:
    • Must have been a member for at least 24 months as evidenced by not less than 24 monthly contributions by the time a member is applying for a loan.
    • Those who do not meet the prior condition but have been contributing as a member for at least 12 months can still apply for a loan. Only that they will be required to pay a lump sum payment based on mandatory contribution rates.
    • Loan applicants for amounts not less than P500,000 will be required to pay upgraded member contributions by the time of loan approval and beyond.
  • Age by the time of application. 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.
  • Legally able to acquire property. Member must have the legal capacity to acquire and encumber real property;
  • Has passed background checks. Member has satisfied background credit, employment, and business checks conducted by Pag-IBIG Fund.
  • Has no outstanding Pag-IBIG housing loan. In case there is one as a co-borrower, the applicant’s loan amount proportionate to the entitlement has been fully paid.
  • Has had no bad loans. The Pag-IBIG member applying for a housing loan must have no prior loan that was foreclosed, canceled, or bought back due to default and similar cases.
  • Has no multi-purpose loans in arrears. The member has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of the loan application.

Cost of filing the housing loan

Processing of a housing loan at Pag-IBIG costs P5,000 payable in progressive stages (paid at certain steps within the loan process).

  • P1,000 – a non-refundable fee payable upon filing of housing loan application upon presentation of required documents.
  • P2,000 – a non-refundable appraisal fee payable upon filing of the loan application.
  • P2,000 – deductible from the loan proceeds.

Required documents for housing loan application

These documents should be brought to a Pag-IBIG office upon application.

  • Two copies of Housing Loan Application with recent ID photo of borrower and co-borrower, if applicable
  • Proof of Income to show an applicant’s ability to source funds to pay for the loan.
    • For workers in the Philippines:
      • Certificate of employment and compensation. This document must be notarized.
      • Income tax return. Send the latest copy prior to the date of application. It must have the attached BIR Form No. 2316, stamped and received by the Bureau of Internal Revenue.
      • Employment payslip. A copy of payslip from work within the previous three months before application.
    • For self-employed/business owners:
      • Income Tax Return audited financial statements (such as from banks), and official receipt of tax payment from the bank.
      • DTI Registration and Mayor’s Permit/Business Permit
      • Bank statements or passbook for the last 12 months (if income is sourced from foreign remittances, pensions, and similar sources)
      • Copy of lease contract and tax declaration (if income is derived from rental payments)
      • A certified true copy of transport franchise issued by an appropriate government agency (local government unit for tricycles, Land Transportation Franchising and Regulatory Board for other public utility vehicles)
      • Certificate of Engagement issued by the owner of the business
      • Another document that would validate the source of income such as receipts and commission vouchers reflecting the issuer’s name and contact details (for the last 12 months)
    • For overseas Filipino workers 
      • Employment Contract between employee and employer or standard contract drafted by the Philippine Overseas Employment Administration
      • Certificate of Employment and Compensation (CEC) is written on company letterhead, or, for domestic workers and similar jobs, CEC is signed by the employer and supported by a copy of the employer’s ID/passport.
      • Income tax is paid in the host country. If the document is in another language, translation to English is required
  • One valid ID (photocopy, back-to-back) of principal borrower and spouse, co-borrower and spouse, seller and spouse, and developer’s authorized representative and attorney-in-fact, if applicable
  • Transfer Certificate of Title (TCT) (latest version and certified true copy). For the condominium unit, present of TCT of the land and Condominium Certificate of Title (CCT) (certified true copy).
  • Updated Tax Declaration (house and lot) and photocopy of the receipt of updated real estate tax
  • Contract-to-sell or similar agreement between the buyer and seller
  • Vicinity map and a sketch of the property involved in the loan

Required documents prior to the release of loan

  1. TCT/CCT in the name of the borrower/co-borrower/s (if applicable) with proper mortgage annotation in favor of Pag-IBIG Fund (Owner’s Duplicate Copy)
  2. TCT/CCT in the name of the borrower/co-borrower/s (if applicable) (Certified True Copy) with proper mortgage annotation in favor of Pag-IBIG Fund (RD’s copy)
  3. Updated Tax Declaration (House and Lot) and Updated Real Estate Tax Receipt (Photocopy) in the name of the borrower/co-borrower/s, if applicable
  4. Loan Mortgage Documents
    1. Loan and Mortgage Agreement duly registered with Registry of Deeds with original RD stamp (HQP-HLF-162/163)
    2. Deed of Absolute Sale duly registered with Registry of Deeds with original RD stamp
    3. Duly accomplished/notarized Promissory Note (HQP-HLF-086/087)
    4. Disclosure Statement on Loan Transaction (HQP-HLF-085)

Additional requirements

Pag-IBIG loans are available to a wide range of eligible members. Therefore, Pag-IBIG may require the submission of the following documents as needed.

  • For overseas Filipino workers

    1. Special Power of Attorney (SPA) notarized prior to the date of departure. For OFW members abroad, a SPA is notarized by a Philippine Consular Officer, or SPA is notarized by a local notary (of the country where the member is working) but duly authenticated by the Philippine Consulate.
    2. The Fund may also require any or a combination of the following documents:
      • Payslip indicating income received and period covered
      • Valid OWWA Membership Certificate
      • Overseas Employment Certificate
      • Passport with appropriate visa (Working Visa)
      • Residence card/permit (permit to stay indicating work as the purpose)
      • Bank remittance record
      • Professional License issued by Host Country/Government
        NOTE: If documents are in a foreign language/s, English translation is required.
    3. Insurance coverage
      • Health Statement Form (Medical Questionnaire)
        • For borrowers over 60 years old
        • For borrowers up to 60 years old, if loans is over P2.0 M to P6.0 M
      • Health Statement Form (Medical Questionnaire) and copy of the result of a medical examination conducted prior to assignment overseas as required by the employment agency
        • For OFW borrowers over 60 years old
    4. For purchase of a lot with house construction 
      • Building Plans, Specification with Bill of Materials duly signed by the Licensed Civil Engineer or Architect
    5. For Properties Purchased from a Developer/Corporation/ Association
      • License to Sell (Applicable to Developer only)
      • Secretary’s Certificate on the Authorized Signatory of the Developer/Corporation/Association
      • One valid ID of the Corporate Secretary and Authorized Signatory of the Developer/Corporation/ Association (Photocopy, back-to-back)

Prior to Loan Release

  • Surety bond (for properties that are subject to the lien imposed by Section 4 Rule 74 of the Rules of Court)
  • Collection Servicing Agreement with Authority to Deduct Loan Amortization or Post Dated Checks, if applicable
  • For Purchase of New Residential Unit only
    • Occupancy Permit
  • For PLCH only
    • Occupancy Permit
    • Building Plans/Electrical/Sanitary Permits duly approved by the building officials

Pag-IBIG Office in the Philippines

Pag-IBIG Offices overseas

Alkhobar, KSA (Middle East)
LACSAMANA P. TUAN
MEMBER SERVICES OFFICER
Mobile No.: +966507181849
Email: popalkhobar@pagibigfund.gov.ph
c/o SKYFREIGHT FORWARDERS
1st St. cor. King Fahad St., P.O. Box 2539, Alkhobar KSA

Athens, Greece
JEAN V. SANTOS
MEMBER SERVICES OFFICER
Fax. No.: (0030210) 6983265
Mobile No.: (003069) 77425678
Email: popathens@pagibigfund.gov.ph
c/o Philippine Overseas Labor Office
10 Fhiotidos St. Ambelokipi, Athens 11523, Greece

Bandar Seri Begawan,Brunei Darussalam (Asia Pacific)
MEMBER SERVICES ASSISTANT
Email: ofwcenter@pagibigfund.gov.ph
c/o Philippine Embassy SPG 336-17, Diplomatic Enclave Jalan Kebangsaan, Bandar Seri Begawan Brunei Darussalam BA 1210

Bahrain (Middle East)
MR DARWIN L. LANSANG
MEMBER SERVICES OFFICER
Mobile No.: +973 37311278
Email: popbahrain@pagibigfund.gov.ph
dlansangpopbahrain@yahoo.com
c/o PHILIPPINE EMBASSY
Villa No. 939 Road No. 3320, Manama, Bahrain, P.O. Box 26681

Dubai(Middle East)
LOWELLA C. RECTO
MEMBER SERVICES OFFICER
Tel. No.: 971-042207221
Mobile No.: +971567285143
Email: popdubai@pagibigfund.gov.ph
Philippine Consulate Gen. Phil Overseas Labor Office
Beirut St. , Al Qusais .3
P.O. Box 4960, Dubai UAE

Hong Kong SAR (Asia Pacific)
RAYMOND FRANCIS RAMOS
MEMBER SERVICES OFFICER
Tel. No.: (00852)2823-8561
Mobile No.: (00852)94524287
Email: pophongkong@pagibigfund.gov.ph
PHILIPPINE CONSULATE
GENERAL 14th Floor,
United Center Building,
95 Queensway, Hong Kong SAR

Jeddah, KSA (Middle East)
JAMAL D. BAGUAN
MEMBER SERVICES ASSISTANT
Mobile No.: +9665-81649435;
+9665 66289554
Email: popjeddah@pagibigfund.gov.ph
Philippine Consulate General
Umm Al-Qura Street Rehab District
P.O. Box 4794 Jeddah 21412

South Korea (Asia Pacific)
MR. DOMINIC A. LEOLIGAO
Pag-IBIG-Korea Service Desk
Mobile No: 0082-1071450385
Telephone: 0082-378536345
Email: popkorea@pagibigfund.gov.ph
dleoligao@gmail.com
c/o Philippine Overseas Labor Office (POLO) Embassy of the Philippines 12 Hoenamuro 42-gil Yongsan-gu, Seoul City 140-857, South Korea

Kuwait (Middle East)
MAHMOUD B. KHALIL
MEMBER SERVICES OFFICER
Fax No.: (00965)532-9319
Mobile No.: +96596693777
Email: popkuwait@pagibigfund.gov.ph
Block 6, Villa 153 Nouman Bin Basher St. corner Damascus St. Faiha, State of Kuwait

London, United Kingdom (Europe)
MARIA FE MANGALILE
MEMBER SERVICES OFFICER
Tel. No.: +447718163222
Email: poplondon@pagibigfund.gov.ph
c/o Philippine Embassy 6 Suffolk St., London SW1Y 4 HG United Kingdom

Macau SAR (Asia Pacific)
JOEL I. NADRES
MEMBER SERVICES ASSISTANT
Tel No. : (00853) 28757111
Mobile No. : (00853) 62573754
Fax No. : (853) 28757227
Email: popmacau@pagibigfund.gov.ph
PHILIPPINE CONSULATE GENERAL MACAU SAR
Unit 1404-1406,14/F AIA Tower, NOS.251A-301,
Avenida Comercial De Macau, Macau Sar
Madrid, Spain (Europe)
JEREMIAS SAN PEDRO
CONTACT PERSON
Tel. No.: 34-915232397
Mobile No.: 34-646701457
Email: popmadrid@pagibigfund.gov.ph
c/o Tahanan 2005 S.L. Office
CALLE MAYOR 6, 28013 MADRID, SPAIN

Malaysia (Asia Pacific)
MARIA ROSARIO S. MACADANGDANG
MEMBER SERVICES ASSISTANT
Tel. No.: (0060) 3 21484233
Mobile No.: (0060) 1 76563971
Email: popmalaysia@pagibigfund.gov.ph
c/o Philippine Embassy Kuala Lumpur No. 1 Changkat Kia Peng 50450 Kuala Lumpur, Malaysia

Milan, Italy (Europe)
BRIGITTE P. MAHOR
MEMBER SERVICES OFFICER
Tel. No.: (3902)-43510205
Mobile No.: +393204572603
Email: popmilan@pagibigfund.gov.ph
c/o Philippine Consulate General via Stomboli 1 Milan, Italy 20144 Milan

OFW Members Services Department OFW Center
FERNANDO C. DE CASTRO
Head OFW Center/CEO III
Tel. No.: (02) 422-3114
Email: fdcastro@pagibigfund.gov.ph
317 Justine Bldg. Sen. Gil Puyat Avenue, Makati City

New York (North America)
MICHAEL F. AZUCENA
MEMBER SERVICES OFFICER
Tel No.: +1 646 8696690
Mobile No.: + 646 832 6208
Email: popnewyork@pagibigfund.gov.ph
Phil. Consulate General
556 5th Avenue New York 10036 USA

Oman (Middle East)
Pag-IBIG Oman Service Desk
Email: popoman@pagibigfund.gov.ph
c/o Philippine Embassy P.O. Box 450 PC 115 Madinat, Sultan Qaboos Muscat, Oman

Qatar (Middle East)
MS. NORLYN P. ACOSTA
MEMBER SERVICES ASSISTANT
Tel. No.: +974-44866236
Mobile No.: +974-33466536
Email: popdoha@pagibigfund.gov.ph
c/o Philippine Overseas Labor Office
Al furat Street, Zone 66, Onaiza Area
24900, Doha, Qatar

Riyadh, KSA (Middle East)
RENATO A. SOQUENO
MEMBER SERVICES OFFICER
Mobile No.: +966537980452
Tel. No.: (+9661) 4880835
Fax No.: (009661) 4883945
Email: popriyadh@pagibigfund.gov.ph
c/o Philippine Embassy Site Site D4, Collector Rd., C Diplomatic Quarters P.O. Box 94366, Riyadh, KSA

Rome, Italy (Europe)
DELILAH C. GUTIERREZ
MEMBER SERVICES OFFICER
Tel. No.: (3906)-39740853
Mobile No.: (3932)81475555
Email: poprome@pagibigfund.gov.ph
c/o Philippine Embassy Vialle Delle Medaglie D’Oro 112/114 Rome, Italy 00136 Rome

Singapore (Asia Pacific)
CHRISTIAN JAN T. OLIVEROS
MEMBER SERVICES OFFICER
Tel. No.: (0065) 6737 3977 loc 106
Mobile No.: +65-98533147
Email: popsingapore@pagibigfund.gov.ph
c/o Philippine Overseas Labor Office / Phil. Embassy 20 Nassim Road SINGAPORE 258395

Taiwan (Asia Pacific)
LERSA A. LI
MEMBER SERVICES OFFICER
Tel. No.: 02-2517-7775
Fax No.: (00886) 225079805
Mobile No.: +886-975563561
Email: poptaiwan@pagibigfund.gov.ph
No. 309 10th Flr. SONJIANG RD. Zhongshan District Taipei City, Taiwan

Tokyo, Japan (Asia Pacific)
OLIVIA C. AKATSU
MEMBER SERVICES ASSISTANT
Tel. No.: 0081)8010352808;
(0081)8048361435
Email: popjapan@pagibigfund.gov.ph
3rd Flr. SK Ueno Bldg., 3-18-7 Higashi Ueno, Taito-Ku Tokyo 110-0015 Japan

 

 

 

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1 COMMENT

  1. I’m OFW I want to renovate my mother house, also I’m leaving on that house. My contribution is only 200 pesos. should I allowed to take housing loan. The lot that my house is not with us . I’m only renting the house. Can you give me the requirement if I’m allowed to make housing loan.

    Thanks

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