Requirements for Pag-IBIG Housing Loan 2024 Application Process

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Guide on Requirements for Pag-IBIG Housing Loan 2024 You Must Prepare in Applying

REQUIREMENTS FOR PAG-IBIG HOUSING LOAN 2024 – Listed below are the documents required under the Housing Loan offer of the Pag-IBIG Fund.

When it comes to housing loans, one of the most popular providers in the Philippines is the Pag-IBIG Fund. It is one of the giant government offices in the Philippines with millions of members coming from different fields.

Requirements for Pag-IBIG Housing Loan 2024
Photo Credit: Davao Corporate Portal

Aside from the Pag-IBIG Cash Loan, the Fund offers a Housing Loan which is actually its most popular offer. Countless Filipinos were able to acquire a residential property because through the said loan offer. One of the most important ways to ensure your eligibility for the offer is to regularly post monthly contributions.

Pag-IBIG Fund Loans
Photo Credit: iMoney

Which purposes can be financed under the Housing Loan offer of the Fund? The loan offer is actually ready to fund any of the following:

  • purchase of residential lot or adjoining residential lots with a maximum of 1,000 sq.m. plus cost of transfer
  • purchase of residential house & lot, townhouse or condominium unit plus cost of transfer
  • house construction
  • home renovation
  • refinancing of existing housing loan
  • combined loan purposes

Who are qualified to apply for the Pag-IBIG Housing Loan offer? For qualification to the offer, here are the eligibility requirements for Pag-IBIG Housing Loan application that the member-borrower must meet:

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

In applying for the offer, there are documentary requirements for Pag-IBIG Housing Loan application that must be submitted to Fund. Here are the documents required by the government entity for loan applications:

  • 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
  • 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

You can download the Pag-IBIG Housing Loan Application Form online. It can save you not only energy but as well as money and time.

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