Guide on Pag-IBIG House Reconstruction Loan Offer for Members
PAG-IBIG HOUSE RECONSTRUCTION LOAN – You can check here the details about the loan offer of the Fund for residential property repairs.
In the Philippines, there are millions of Filipinos who are securing an active membership to the Pag-IBIG Fund. It is one of the longest-serving state entities in the country and it has helped countless people get a residential property of their own.
The Pag-IBIG Housing Loan is undeniably the most popular offers of the Fund. It is open for several purposes including the financing of the following:
- acquisition of residential house and lot, townhouse, or condominium unit
- house construction / completion of a residential unit
- home improvement
- rehabilitation/construction of a damaged residential unit
- rehabilitation/construction of a Residential Unit Mortgage with or assigned to the Fund
- purchase of a fully-developed lot and construction of residential unit
- purchase of a residential unit with home improvement
Undeniably, in most cases, the members avail the Housing Loan for the purpose of financing the acquisition of a residential property. Meanwhile, in case property damages, a qualified member may also apply for Pag-IBIG House Reconstruction Loan.
Who are qualified to apply for the loan offer? Here are the qualifications in applying for the loan offer of the Fund:
- active member with least 24 months savings
- not more than 65 years old at the date of loan application and is not more than 70 years old at the date of loan maturity
- legal capacity to acquire and encumber real property
- no Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
- If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated
The said loan offer is open for two (2) categories — retail and developer-assisted accounts. It is open for application with regards to properties with a clean title such as any of the following:
- Transfer Certificate of Title (TCT)
- Original Certificate of Title (OCT)
- Condominium Certificate of Title
Are you interested to apply for the Pag-IBIG House Reconstruction Loan? There are Pag-IBIG Reconstruction Loan requirements you must prepare in applying for the loan offer.