Guide on Requirements for Pag-IBIG Affordable Housing Loan Application
REQUIREMENTS FOR PAG-IBIG AFFFORDABLE HOUSING LOAN – Here is a list of documents that you must prepare in applying for it.
When it comes to affordable housing, one of the government agencies that you can turn to is Pag-IBIG Fund provided that you are a member of it. This state-run agency is mainly know for its services that help the Filipinos acquire affordable residential properties.
Many Filipinos are members of Pag-IBIG Fund. Every month, they remit a certain amount to the government agency as savings. Active accounts that pass the eligibility requirements set by the agency may qualify for its service offers like loans and benefits.
One of the existing Pag-IBIG Fund loans now is the housing loan under the Affordable Housing Program. It is an offer for minimum wage earners who wants to own a home.
For the application, there are requirements for Pag-IBIG Affordable Housing Loan. Here is a list of the documents that you must prepare and submit to the agency:
- Housing Loan Application with recent ID photo of borrower/co-borrower (if applicable) (2 copies, HQP-HLF- 068/HQP-HLF- 069)
- Proof of Income
- For locally employed applicants:
- Certificate of Employment and Compensation (CEC), indicating the gross monthly income and monthly allowances or monthly monetary benefits received by the employee (1 original copy) duly signed by the authorized signatory of the employer. For system generated CEC, the signature of authorized signatory of the employer must be reflected in the said CEC.
- Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application, with attached BIR Form No. 2316, duly acknowledged by the BIR or authorized representative of employer. (1 photocopy)
- One (1) Month Payslip, within the last three (3) months prior to date of loan application with name and signature of the authorized signatory of employer. (1 certified true copy)
- For self-employed applicants:
- ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit
- Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months)
- Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittances, pensions, etc.)
- Copy of Lease Contract and Tax Declaration (if income is derived from rental payments)
- 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
- Other document that would validate source of income
- For locally employed applicants:
- One (1) valid ID (Photocopy, back-to-back) of Principal Borrower and Spouse, Co-Borrower and Spouse, Seller and Spouse and Developer’s Authorized Representative and Attorney-In-Fact, (if applicable)
From the seller, there is a different set of requirements for Pag-IBIG Affordable Housing Program. The following are the documents needed:
- Transfer Certificate of Title (TCT) (latest title, Certified True Copy). For Condominium Unit, present TCT of the land and Condominium Certificate of Title (CCT) (Certified True Copy).
- Updated Tax Declaration (House and Lot) and Updated Real Estate Tax Receipt (photocopy)
- Vicinity Map/Sketch Map leading to the Property subject of the loan
You may also visit: Apply for Pag-IBIG Heal Loan or Home Equity Appreciation Loan (Steps)