List of Pag-IBIG Reconstruction Loan Requirements Income Documents Accepted by the Fund
PAG-IBIG RECONSTRUCTION LOAN REQUIREMENTS – Here is a guide on the income documents you may submit in applying for the loan offer.
In the Philippines, one of the entities that the Filipinos may turn to when it comes to loans that can finance residential property acquisition is the Pag-IBIG Fund. It has millions of members across the nation.
The Pag-IBIG Fund has several loans for its members. Aside from the Housing Loan that is ready to fund a property acquisition, the government entity’s loan offer is also open to finance a house reconstruction.
The House Reconstruction Loan offer of the Fund is open not only for locally and self-employed members but as well as overseas Filipino workers (OFWs). There are varying Pag-IBIG Reconstruction Loan requirements for application.
For Locally-Employed Members. If you are locally-employed, here are the documents required by the Fund for application:
- Notarized Certificate of Employment and Compensation (CEC), indicating the gross monthly income and monthly allowances or monthly monetary benefits received by the employee
- Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application, with attached BIR Form No. 2316, stamped received by the BIR
- Certified One (1) Month Payslip, within the last three (3) months prior to date of loan application
According to the Fund, in the case of the government employees, the Certified One (1) Month Payslip, within the last three (3) months prior to date of loan application, must be submitted together with the CEC or ITR.
For Self-Employed Members. In the case of non-salaried members of the Fund, here are the Pag-IBIG Reconstruction Loan requirements for application:
- ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit
- Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months)
- Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittances, pensions, etc.)
- Copy of Lease Contract and Tax Declaration (if income is derived from rental payments)
- 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
- Other document that would validate source of income
For Overseas Filipino Workers. The loan offer is also open for OFWs. Here are the documents that the Fund requires from its OFW members who want to apply for reconstruction:
- Employment Contract
- Employment Contract between employee and employer; or
- POEA Standard Contract
- 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
- Income Tax Return filed with Host Country/Government
If the documents are in foreign language/s, English translation is required. Here are the additional requirements that the Fund may set:
- Special Power of Attorney notarized prior to date of departure. For OFW member abroad, a SPA notarized by a Philippine Consular Officer, or SPA notarized by a local notary (of the country where the member is working) but duly authenticated by the Philippine Consulate
- The Fund may also require any or a combination of the following documents:
- Payslip indicating income received and period covered
- Valid OWWA Membership Certificate
- Overseas Employment Certificate
- Passport with appropriate visa (Working Visa)
- Residence card/permit (permit to stay indicating work as the
purpose) - Bank remittance record
- Professional License issued by Host Country/Government
Aside from the afore-mentioned documents, there are also requirements depending if the loan will be under a retail account or a developer assisted account.