A Quick Guide on Pag-IBIG Housing Loan Application for OFWs

OFWs' love for their families and loved ones left in the Philippines is maybe one of the main encouragements why one has to endure the hardship of being far from them in the first place, and the dream to be able to own a home and provide a comfortable life is up there in the list. It would seem a bit overwhelming, however, going through the whole process of buying a property when you're not physically present in the country, more so applying for a housing loan through Pag-IBIG. But thankfully, it is not impossible.

First, make sure to check our guide in buying a property for OFWs to settle a few things first before we go through the step-by-step guide in applying for a housing loan through Pag-IBIG. Making your thorough research on the property you're interested in, assigning your Attorney-in-Fact, and completing your Special Power of Attorney document are just a few requirements you have to at least accomplish first.

Step 1: Check your eligibility for a housing loan

You have to meet a few requirements to be eligible for a housing loan.

☑ Active 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

☑  Legal capacity to acquire and encumber real property

☑  No Pag-IBIG housing loan foreclosed, canceled, bought back, or voluntarily surrendered

☑  If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated

Step 2: Complete the requirements and submit them to Pag-IBIG

☑ Housing Loan Application with recent ID photo of borrower/co-borrower (if applicable)

☑ Proof of Income

• Employment Contract:

  • Employment Contract between employee and employer; or

  • POEA Standard Contract

• Certificate of Employment and Compensation (CEC)

  • CEC written on the Employer/Company’s official letterhead; or

  • CEC signed by the employer (for household staff and similarly situated employees) supported by a photocopy of the employer’s ID or passport

• Income Tax Return filed with Host Country/Government

NOTE: If documents are in a foreign language/s, English translation is required.

☑ 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)

You may seek assistance from the real estate broker/salesperson you are in contact with for the succeeding requirements below.

☑ 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

Step 3: Receive your Notice of Approval (NOA) and Letter of Guaranty (LOG)

Once Pag-IBIG has received your requirements and finds them complete and in order, you will receive the Notice of Approval and Letter of Guaranty, in which they will advise where to claim.

Step 4: Complete the requirements stated in the Notice of Approval

You have ninety (90) calendar days to complete the requirements in the NOA and submit to Pag-IBIG, which includes the transfer of title and annotation of mortgage, among others.

Step 5: Receive your Pag-IBIG housing loan

Upon submission of your post-approval requirements, you will be able to receive your loan within ten (10) working days. Pag-IBIG will notify you on how your loan shall be released safely and conveniently.

That’s it! The fact you’re starting your research about this process is perhaps an indication of your dream beginning to realize. Always remember you can always seek some advice from professionals to guide you on this whole process.