Pag-IBIG Housing Loan Requirements 2023 for House Construction

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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 house construction.

Are you a Pag-IBIG Fund member who is planning to start your house construction but you don’t have the sufficient funds to pull through with the goal? You can actually turn to the Housing Loan offer of the government agency.

Pag-IBIG Housing Loan Requirements 2023
Photo Credit: CNN Philippines

The Pag-IBIG Fund is undeniably most popular for its Housing Loan offer. The offer is open to finance a purchase of a vacant lot or house and lot, house construction, home renovation, and refinancing of an existing home loan. A lot of members apply for the Pag-IBIG Housing Loan daily in the pursuit to be approved of the offer of the government agency which offers affordable repayments.

Pag-IBIG Fund
Photo Credit: iMoney

The Pag-IBIG Fund allows up to 30 years repayment. To qualify for the loan offer, the member-borrower must meet the following eligibility requirements for the Pag-IBIG Housing Loan 2023 application:

  • 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

The Pag-IBIG Housing Loan requirements 2023 includes the plans for the construction of the residential property. Here are the documents that you must submit to a branch of the Fund to apply for the loan offer:

  • 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
  • Updated Tax Declaration (House and 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

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