List of Pag-IBIG Home Loan Refinancing Requirements 2024 Members Must Submit to Apply
PAG-IBIG HOME LOAN REFINANCING REQUIREMENTS 2024 – Here are the documents needed in applying for the loan to Pag-IBIG Fund.
Nowadays, loan providers do not only offer housing loans for the purpose of financing a residential property purchase. There are also also entities that are ready to refinance an existing home loan — just like the Pag-IBIG Fund.
The Pag-IBIG Fund has millions of member across the nation. It has employed and self-employed members as well as overseas Filipino workers (OFWs) and those who applied for a voluntary membership. It is most popular for its Housing Loan offer amid the many Pag-IBIG Fund loans that members may apply for.
The Fund also offers a Pag-IBIG Cash Loan or the Multi-Purpose Loan offer but there is counter to the Housing Loan being the biggest contributor to its fame. What are the Pag-IBIG Home Loan Refinancing eligibility requirements for application?
To qualify for the loan offer, here are the eligibility requirements that the member-borrower must meet:
- 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
Aside from passing the eligibility requirements, there are also Pag-IBIG Home Loan Refinancing requirements that you must submit in applying for the loan offer. Here is a list of the documents that are needed for application:
- 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, proceed to a branch of the Pag-IBIG Fund nearest to you and submit all the documents required in applying for the refinancing of an existing home loan. Let your documents be checked by the Fund.
Make sure to bring all the original documents as the Fund may check them. Once all the documents are complied, the loan processing will start and you will have to wait for a few weeks for the loan application result.
