List of Requirements for Pag-IBIG Housing Loan Application Process
REQUIREMENTS FOR PAG-IBIG HOUSING LOAN – For the refinancing of an existing home loan, here are the documents that a member must submit to apply.
Nowadays, you do not have to wait for years to be able to live in a house you can call your own. There are entities that are willing to help you fast-track your dreams just like the Pag-IBIG Fund.
The Pag-IBIG Fund is most popular for its Housing Loan offer among the many other loan offers of the government institution. It has millions of people thus countless individuals also have access to their excellent offers.
With regards to the Pag-IBIG Housing Loan, it is open to finance several purposes including refinancing. Truth be told that there are cases when borrowers want to transfer their loans due to high interest or any other reason. The Fund is willing to help the qualified clients.
To apply for the loan, you just have to prepare the requirements for the Pag-IBIG Housing Loan application for refinancing. There is a specific set of documents for it.
Here are the requirements for the Pag-IBIG Housing Loan application for refinancing:
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)
- present and Certified True Copy of TCT of the land and Condominium
- Updated Tax Declaration
- photocopy of Updated Real Estate Tax Receipt
- Latest Statement of Account on Outstanding Loan Balance duly signed by the Manager or the account officer, together with any of the following:
- Official receipt (or any valid proof of payment) for the past 6 months
- Subsidiary Ledger
- Vicinity Map/Sketch of the Property
