Pag-IBIG Housing Loan Requirements 2023 for Purchase of Lot with House Construction

Guide on the Pag-IBIG Housing Loan Requirements 2023 for Application Process

PAG-IBIG HOUSING LOAN REQUIREMENTS 2023 – Here are the documents needed in applying for the loan offer for the purpose of lot purchase with house construction.

Are you looking for an affordable way of purchasing a vacant residential lot and you want to build your house on it right away? If you are an active member of the Pag-IBIG Fund, you might qualify to the Housing Loan offer of the government agency.

You may apply for the Pag-IBIG Housing Loan offer for the purchase of lot with house construction, for financing a lot purchase alone or a house construction alone, or for the refinancing of an existing home loan.

Under this housing loan offer, you may repay the amount borrowed for up to 30 years thus you have the option to have light monthly installments. The government agency also offers a diminishing scheme of the interest application.

Who are qualified to apply for the Pag-IBIG Housing Loan offer? For eligibility to the loan offer, the member-borrower must possess the following qualities:

• active member with least 24 months savings
• not more than 65 years old at the date of loan application
• not more than 70 years old at the date of loan maturity
• Legal capacity to acquire and encumber real property
• No Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
• If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated

To apply for the offer for the purpose of financing a lot purchase with house construction, here are the Pag-IBIG Housing Loan 2023 requirements that you must prepare and submit to a branch of the Fund nearest to you:

• two (2) copies of the Pag-IBIG Housing Loan Application Form (HQP-HLF- 068/HQP-HLF- 069) with recent ID photo of borrower/co-borrower (if applicable)
• one (1) valid ID
  • 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
• Transfer Certificate of Title
• Updated Tax Declaration of Lot
• Updated Real Estate Tax Receipt (photocopy)
• Building Plans, Specification with Bill of Metrials duly signed by the Licensed Civil Engineer or Architect
• Vicinity Map/Sketch of the Property