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FAQ's

Frequently Asked Questions


1. What are the requirements for applying a Pag-ibig Loan?

These are the requirements for applying for a Pag-ibig Loan. Usually approval takes up to 2-3 months.

Eligibility Requirements





















  1. On Pag-IBIG Membership
    • Must be a member under the Pag-IBIG I, Pag-IBIG II or Pag-IBIG Overseas Program (POP) for at least twenty-four (24) months, as evidenced by the remittance of at least 24 monthly contributions at the time of loan application.
    • A member with less than the required number of contributions applying for a Pag-IBIG housing loan shall be allowed to make lump sum payment based on the mandatory monthly membership contribution rates (both EE and ER share) to meet the said requirement at point of loan application provided he has been a contributing member of the Fund for at least twelve (12) months. Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the payment date.
    • A member whose loan exceeds P500,000.00 shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.
    • A member who has contributed for at least two (2) years and whose loans exceed P500,000.00 shall be required to pay the upgraded contribution rates upon housing loan approval and onwards.

      For purposes of satisfying the required two (2) years membership contributions, the member may opt to pay in lump sum any amount short of the said requirement. In addition, the period corresponding to the TAV applied earlier to an outstanding loan shall also be considered when counting the total number of monthly contributions, provided the remaining TAV after offsetting does not fall below the equivalent amount of two (2) years membership contributions.
  2. Not more than sixty-five (65) years old at the date of loan application and must be insurable; provided further that he is not more than seventy (70) years old at loan maturity;
  3. Has the legal capacity to acquire and encumber real property;
  4. Has passed satisfactory background/credit and employment/business checks of the Pag-IBIG Fund;
  5. Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;
    However, should a co-borrower in a tacked loan signify an intention to avail of a Pag-IBIG housing loan for himself, he shall be allowed to do so provided the tacked loan is updated and the amount proportionate to his loan entitlement has been fully paid. Hence, the co-borrower shall be released from the original obligation and shall be allowed to avail of his own Pag-IBIG housing loan, subject to standard evaluation procedures.
  6. Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago, which shall include cases where the borrower is no longer interested to pursue the loan and surrenders the property;
  7. Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application. A member whose multi-purpose loan is in arrears shall be required to pay his arrearages over the counter to update his account.
Documentary Requirements
  • 2 Valid ID's (Passport, PRC, Voter's ID, TIN ID, SSS ID, Postal ID, Company ID)
  • Birth Certificate for Single & Marriage Contract for married
  • Latest Cedula
  • 3 1x1 pictures
  • Proof of Billing Address
  • Special Power of Attorney (if representative)    
Additional Income document requirements:
For Locally Employed, any of the following: 
  • Notarized Certificate of Employment and Compensation (Employer’s format) and for government employees one (1) month payslip, within 3 months prior to date of loan application
  • Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application,with attached W2 form, stamped received by the BIR/Certificate of Tax Withheld (BIR Form No. 2316)

For Self Employed/Other Sources of Income, any of the following:

  • 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 Public Utility Vehicle or PUVs)
  • Certificate of Engagement issued by owner of business
  • Other document that would validate source of income

For Overseas Filipino Workers (OFW), any of the following:
  • Employment Contract (with English translation if in foreign language)
  • Original Employer’s Certificate of Income (with English translation if in foreign language). If document submitted is photocopy, it shall be duly validatedand certified/initialed by Pag-IBIG Fund Information Officer assigned in the country where the member works.
  • Other Proofs of Income, whether original or photocopy, shall be duly validated and certified/initialed by Pag-IBIG Fund Information Officer assigned in the country where the member works. 
2. What are the basic requirements for applying a bank housing loan?

To be eligible to apply for a bank loan, the borrower must have no outstanding bad credit record for the last 10 years (credit cards and other loans). Usually the bank requires the borrower to have at least 50,000 combined monthly income (for spouses) to be eligible for a housing loan.

It takes up to 2-3 weeks for the approval of the application of a bank loan. 

Documentary Requirements 


  • 2 Valid ID's (Passport, PRC, Voter's ID, TIN ID, SSS ID, Postal ID, Company ID)
  • Birth Certificate for Single & Marriage Contract for married
  • Proof of Billing Address
  • Special Power of Attorney (if representative) 
  • Proof of Income (ITR and Certificate of Employment for employed, Audited Financial Statements for self employed, For OFW, Latest Job Contract)


 
 

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