Pag-IBIG Housing Loan Up To Help Members Turn their Dreams Into Reality

Features of Pag-IBIG Housing Loan Offer for Members

PAG-IBIG HOUSING LOAN – The Pag-IBIG Fund wants to help its members turn their dreams of having a house into a reality under affordable means.

Are you one of the millions of members of the Pag-IBIG Fund? It has a Housing Loan offer that has helped countless Filipinos acquire residential properties in affordable ways. It is open for several purposes such as the following:

  • Purchase (plus cost of transfer) of residential lot or adjoining residential lots of up to a maximum of 1,000 sq.m.
  • Purchase (plus cost of transfer) of residential house & lot, townhouse or condominium unit (old or brand new, property mortgaged w/ the Fund, adjoining houses/units) inclusive of a parking slot
  • House Construction
  • Home Renovation
  • Refinancing of an existing housing loan
  • Combined Loan Purposes

The Pag-IBIG Fund has set a few qualifications in applying for its loan offer. To qualify for the loan, here are the eligibility requirements that a member must meet:

  • at least twenty-four (24) monthly membership savings
  • not more than sixty-five (65) years at the date of application and not more than seventy (70) years at maturity of the loan
  • has a legal capacity to encumber real property
  • has the ability to pass satisfactory background / credit and employment / business checks of Pag-IBIG Fund
  • has no outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of the loan application
  • has no Pag-IBIG Housing Loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago

The Pag-IBIG Fund allows a lump sum payment of the required monthly membership savings to qualify for the offer. In the member-borrower has an existing housing loan whether as the principal buyer, co-buyer, or co-borrower, the account must be updated.

With regards to the loanable amounts under the Pag-IBIG Housing Loan offer, the maximum borrowing amount allowed by the government institution is Php 6 million. The Fund considers the following factors in the assessment of the loanable amount:

  • Borrower’s actual need;
  • Borrower’s desired loan amount;
  • Borrower’s loanable amount based on his/her capacity to pay
  • Loan-to-Appraised Value ratio

How much is the interest rate under the Housing Loan offer? It actually depends on the fixing period that a member-borrower has chosen under a loan account. The Fund allows a maximum of up to 30 years of repayment thus low monthly amortizations is really possible.

Here is a guide on the interest rates implemented under the Pag-IBIG Housing Loan offer based on the fixing period:

Rates per Repricing Period, effective 01 January 2024
1-Yr* Fixing5.750%
3-Yr Fixing6.250%
5-Yr Fixing6.500%
10-Yr Fixing7.125%
15-Yr Fixing7.750%
20-Yr Fixing8.500%
25-Yr Fixing9.125%
30-Yr Fixing9.750%

To apply for the loan offer, qualified members may apply online or personally submit the requirements based on the loan purpose. It is open not only for the employed and self-employed members but as well as the overseas Filipino worker (OFW) members of the state entity.

Here’s a guide on the requirements for the Pag-IBIG Housing Loan based on purpose:

Requirements for Pag-IBIG Housing Loan Application for Lot Purchase
Requirements for Pag-IBIG Housing Loan Application for House Construction
Requirements for Pag-IBIG Housing Loan Application for Home Renovation
Requirements for Pag-IBIG Housing Loan Application for Refinancing
Requirements for Pag-IBIG Housing Loan for Purchase of Lot with House Construction

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