List of Requirements for Pag-IBIG Housing Loan Application Process
REQUIREMENTS FOR PAG-IBIG HOUSING LOAN – For the financing of a lot purchase with a house construction, here are the documents that a member must submit to apply.
In the Philippines, one of the housing loan providers is the Pag-IBIG Fund. However, there are many features that sets the Fund apart from the other loan providers. One of it is the low interest rates that is dependent on the chosen fixing term of the borrower.
Another edge of the Pag-IBIG Housing Loan is the possibility of light monthly installments for the member-borrower. The loan is payable for up to 30 years. Another excellent feature is the wide coverage.
Unlike most housing loans, the Pag-IBIG Fund is ready to finance a combination of loan purposes such as the vacant lot purchase and the house construction. It has crafted a set of requirements for the Pag-IBIG Housing Loan for purchase of lot with house construction.
Are you interested to apply for the loan for the financing of your lot purchase and house construction? Here are the requirements for Pag-IBIG Housing Loan that you must prepare and submit to the Fund:
General Requirements:
- duly-accomplished and signed Pag-IBIG Housing Loan Application Form with recent ID photo of borrower/co-borrower
- one valid ID (photocopy back-to-back) of the applicable parties such as the principal borrower, co-borrower, seller, developer’s authorized representative and attorney-in-Fact, spouses of the parties involved
- notarized Special Power of Attorney (SPA) for OFW applicants
- proof of income
Employed
(any of the following)
- one (1) original Certificate of Employment and Compensation (CEC), indicating the gross monthly income and monthly allowances or monthly monetary benefits received by the employee duly-signed by the authorized signatory of the employer
- one (1) photocopy of Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application, with attached BIR Form No. 2316, duly- acknowledged by the BIR or authorized representative of employer
- one(1) Certified True Copy of one (1) Month Payslip, within the last three (3) months prior to date of loan application with name and signature of the authorized signatory of employer
Self-Employed
(any of the following)
- ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit
- Bank Statements or passbook for the last 12 months
- Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months)
- Certified True Copy of Transport Franchise issued by appropriate government agency
- Copy of Lease Contract and Tax Declaration (if income is derived from rental payments)
- Certificate of Engagement issued by owner of business
- other documents that validate income
OFWs
(any of the following)
- Employment Contract
- Employment Contract between employee and employer; or
- POEA Standard Contract
- Notarized Certificate of Employment and Compensation (CEC)
- CEC written on the Employer/Company’s official letterhead; or
- CEC signed by employer (for household staff and similarly situated employees) supported by a photocopy of the employer’s ID or passport
Collateral Requirements:
- latest and Certified True Copy of Transfer Certificate of Title (TCT)
- Updated Tax Declaration
- photocopy of Updated Real Estate Tax Receipt
- Building Plans, Specification with Bill of Materials duly-signed by the Licensed Civil Engineer or Architect
- Vicinity Map/Sketch of the Property
