List of Requirements for Pag-IBIG House Construction Loan Application Process
REQUIREMENTS FOR PAG-IBIG HOUSE CONSTRUCTION LOAN – Below are the documents needed in applying for this Pag-IBIG Fund loan.
Are you planning to build your dream house but you need a financial assistance in doing so? You might be looking for a loan that can finance your intent. If you are a member of the Pag-IBIG Fund who has posted at least 24 monthly savings, you may turn to the government agency for a Housing Loan offer.
The loanable amount is up to P6 million but all loan applications are subject to the approval of the government agency and there are documents that you need to submit in applying for the loan. Here are the basic requirements that you need to prepare in applying for a House Construction Loan to Pag-IBIG Fund:
- Housing Loan Application with recent ID photo of borrower/co-borrower (if applicable) (2 copies, HQP-HLF-068/069)
- Proof of Income (see details at the back)
- One (1) valid ID (Photocopy, back-to-back) of Principal Borrower and Spouse, Co-Borrower and Spouse
- Updated Real Estate Tax Receipt and Updated Tax Declaration and (photocopy), if applicable
- Building Plans, Specification with Bill of Materials duly signed by the Licensed Civil Engineer or Architect
There are documents that you need to prepare for the loan release. Gather the following requirements for Pag-IBIG House Construction Loan:
- updated Real Estate Tax Receipt and Updated Tax Declaration (photocopy), if applicable
- Loan Documents
- Notarized Loan Agreement (For ROPA Accounts with House Construction or Home Improvement) (HQP-HLF-596)
- Duly accomplished/notarized Promissory Note (For ROPA Accounts with House Construction or Home Improvement) (HQP-HLF-597) for each loan release
- Disclosure Statement on Loan Transaction (HQP-HLF-085)
- Building Plans/Electrical/Sanitary Permits duly approved by the building official
- Occupancy Permit
To apply for the loan offer, bring your documents to a branch or main office of the Pag-IBIG Fund nearest to you. The loan processing may take between 20-25 days and the government agency will inform you about the result of your loan application.
Pag-IBIG Fund also offers a cash loan – the Multi-Purpose Loan or MPL. You may visit – Apply for Pag-IBIG Cash Loan Online – Here’s How To Apply for Offer.