Pag-IBIG Housing Loan Requirements based on Purpose of Application

List of Pag-IBIG Housing Loan Requirements for Application

PAG-IBIG HOUSING LOAN REQUIREMENTS – Here are the documents needed in applying for the loan offer based on the purpose of application.

In the Philippines, when it comes to housing loans, one of the most popular providers is the Pag-IBIG Fund. It is a government office with millions of members composed of locally-employed individuals, overseas Filipino workers (OFWs), self-employed individuals, and those who applied for a voluntary membership.

The Housing Loan offer of the Fund can finance the acquisition of a residential property, house construction, home renovation, and a home loan takeout. The Pag-IBIG Housing Loan requirements depend on the purpose of the loan application.

Furthermore, the Pag-IBIG Housing Loan requirements include documents that must be provided by both the member-borrower and the seller of the property. In the case of financing the acquisition of a residential property, here are the documents needed:

From Borrower:

• two (2) copies of the Pag-IBIG Housing Loan Application Form with recent ID photo of borrower/co-borrower (if applicable)
• one (1) valid ID of the applicable parties
  • Principal Borrower
  • Co-borrower
  • Seller
  • Developer’s Authorized Representative and Attorney-in-Fact
  • Spouses of the parties involved, if applicable
• proof of Income
  • If employed, prepare any the following documents:
    • Certificate of Employment and Compensation (CEC)
      • indicating the gross monthly income and monthly allowances or monthly monetary benefits received by employee
      • duly signed by the authorized signatory of the employer
    • Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application
    • one (1) month payslip, within the last three (3) months prior to date of loan application
  • If self-employed, prepare any of the following documents:
    • Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months)
    • ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit
    • Copy of Lease Contract and Tax Declaration (if income is derived from rental payments)
    • Bank Statements or passbook for the last 12 months
    • Certified True Copy of Transport Franchise issued by appropriate government agency (LGU for tricycles, LTFRB for other PUVs)
    • Certificate of Engagement issued by owner of business
  • If overseas Filipino worker (OFW), prepare 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

From Seller:

• Transfer Certificate of Title (TCT)
• Updated Tax Declaration (House and Lot)
• Updated Real Estate Tax Receipt
• Contract-to-Sell or smiliar agreement between buyer and seller
• Vicinity Map/Sketch Map

There is a different set of Pag-IBIG Housing Loan requirements for application for the purpose of house construction. The government agency’s loan offer is also open to finance a home renovation project.

If you are a Pag-IBIG member who has an existing housing loan with a bank or another lending entity, you may have it taken-out by the government agency. However, it is important to note that there is a different list of documents that you must prepare and submit to the government office in applying for refinancing.

With regards to the process in applying for the loan offer, it must be personally done at a branch of the Pag-IBIG Fund. Meanwhile, you can follow some steps to ensure a smooth process and avoid the application reaching several months to finish.