List of Pag-IBIG House Construction Loan Requirements 2024 Members Must Submit to Apply
PAG-IBIG HOUSE CONSTRUCTION LOAN REQUIREMENTS 2024 – Here are the documents needed in applying for the loan to Pag-IBIG Fund.
Nowadays, a lot of prefer prefer to buy a residential lot and constuct their dream house instead of buying a house and lot. This usually happens in the case of individuals who want a customized house — those who have a specific number of rooms they want, how these rooms will be placed, the facade of the house, the space in the kitchen, etc.
However, truth be told that like buying a ready for move in house and lot, a house construction also requires a huge amount of money. Meanwhile, if you are a member of the Pag-IBIG Fund, you have an option that you can turn to — the Pag-IBIG Housing Loan.
The Housing Loan is just one of the many Pag-IBIG Fund Loans that members may apply for. It is open to finance a house construction and here are the Pag-IBIG House Construction Loan requirements for eligibility to the offer:
- 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
What are the Pag-IBIG House Construction Loan requirements for application? Here are the documents required by the Fund in applying 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
- Certificate of Employment and Compensation (CEC)
- 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
- Employment Contract
- If employed, prepare any the following documents:
- 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
To apply for the loan offer, go to a branch of the Pag-IBIG Fund nearest to the location where the house will be constructed. Bring the original copies of all the documents required in applying for the House Construction loan offer.
Submit your documents. The Pag-IBIG staff will check the documents and once they are complete, they will be processed. Wait for an update from the Fund.
