How To Pay for Pag-IBIG Housing Loan via Bayad Center

Step-by-Step Guide on How to Pay for Pag-IBIG Housing Loan Monthly Due

How To Pay for Pag-IBIG Housing Loan – If you want to pay through Bayad Center, there is an easy process in making the payment for your monthly amortization.

Countless Filipinos have an existing Housing Loan to the Pag-IBIG Fund. It is one of the biggest state institutions in the country and its most popular loan offer is the Housing Loan that serves multiple purposes.

How To Pay for Pag-IBIG Housing Loan via Bayad Center

The Pag-IBIG Housing Loan offer is not merely to finance the purchase of a residential property. Its total coverage includes the following:

  • purchase of vacant residential lot, residential house and lot, townhouse, and condominium unit (plus the cost of transfer)
  • house construction
  • home renovation
  • refinancing of an existing housing loan
  • combined loan purposes
Pag-IBIG Fund
Photo Credit: iMoney

To apply for the loan offer, the first step is to make sure you are qualified for it. Here is the set of the eligibility criteria in applying for the Pag-IBIG Housing Loan offer:

  • an active member with at least 24 months savings
  • not more than 65 years old upon the loan application and not 70 years old at the date of the loan maturity
  • of legal capacity to acquire and encumber a real property
  • having no foreclosed, bought back, cancelled, or voluntarily surrendered Pag-IBIG housing loan
  • having an updated loan account in case of existing Pag-IBIG Housing or Short Term Loan accounts.

The next step is to prepare the documents needed in applying for the loan offer. Here are the documentary requirements for the Pag-IBIG Housing Loan application:

  • two (2) copies of duly-accomplished Housing Loan Application Form
  • recent ID photo of borrower/co-borrower
  • one (1) valid ID
  • Proof of Income:
    • If the applicant-borrower is employed:
      • Latest Income Tax Return (ITR)
      • Certificate of Employment and Compensation (CEC) (It must contain the gross monthly income of the applicant and all the monetary benefits received)
      • one-month payslip
    • If the applicant-borrower is self-employed:
      • Certificate of Engagement issued by owner of business
      • Commission Vouchers reflecting the issuer’s name and contact details
      • Certified True Copy of Transport Franchise
      • ITR, Audited Financial Statements, and Official Receipt of tax payment from bank
      • Copy of Lease Contract and Tax Declaration
      • other document that would validate the source of income
  • Transfer of Certificate of Title
  • Updated Tax Declaration and Real Estate Tax Receipt
  • Vicinity Map / Sketch Map leading to the property subject of the loan

To apply for the Pag-IBIG Housing Loan, the process can be done personally at a branch of the Pag-IBIG Fund nearest to you or through the online platform of the government agency — the Virtual Pag-IBIG.

After a successful loan, the next thing to do is to regularly pay for your loan monthly amortization every month. You can do it through a Bayad Center outlet if it is more convenient for you.

How to pay for Pag-IBIG Housing Loan via Bayad Center? Here are the steps for application:

  1. Go to a Bayad Center branch and ask for a copy of the payment form.
  2. Accomplish the payment form. Indicate your HAN or your Housing Account Number.
  3. Pay for the loan monthly amortization and the service charge.
  4. Get the receipt and make sure to keep the copy.

With regards to the Pag-IBIG Housing Loan interest rates, they are dependent on specific factors such as the loan term, the loan amount, and the fixing period. The releasing of the borrowed amount under the Pag-IBIG Housing Loan follows a certain scheme.

Leave a Comment