SA PAG-IBIG WALANG IMPOSIBLENG PANGARAP

AFFORDABLE HOUSING LOAN FOR MINIMUM WAGE EARNERS

LOAN PURPOSE

Purchase (plus cost of transfer) of residential lot or adjoining residential lots (max 1,000 sq.m.)

☑  Purchase (plus cost of transfer) of residential house & lot, townhouse or condominium unit (old or brand new, property mortgaged w/ the Fund, adjoining houses/units) inclusive of a parking slot

☑  Construction of house

☑  Improvement of house

☑  Refinancing of an existing housing loan

☑  Combined Loan Purposes

ELIGIBILITY

☑  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, cancelled, bought back, or voluntarily surrendered

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

REQUIREMENTS

☑  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, any of the following:

  • 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)

    NOTE:* For government employees who will be paying their loan amortization through salary deduction, the original copy of one (1) Month Paylsip, within the last three (3) months prior to date of loan application, must be submitted together with CEC or ITR as mentioned above.*

• For Self Employed, any of the following Proof/s of Income:

  • 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 Overseas Filipino Workers (OFW), any of the following:

  • 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 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 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)FROM SELLER (and/or BORROWER)

☑  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

BY LOAN PURPOSE

• For Purchases through Pag-IBIG Accredited
    Developers

• Purchase of Lot/Residential Unit

• House Construction/Home Improvement

• Purchase of Lot with House Construction

• Refinancing

MODES OF PAYMENT

☑  Salary deduction through Employer Collection Servicing Agreement (CSA)

☑  Post-dated checks

☑  Payment to an accredited Developer with CSA with the Fund

☑  Auto debit arrangement with banks

☑  Accredited collection partners»  Local Remittance»  Overseas Remittance

COLLATERALS & LIMITATIONS

COLLATERALS

☑  Clean Title (TCT/OCT/CCT)

»  Not accepted as collateral:

❎  “Rights”

❎  Free Patent not covered by RA10023

❎  With disputes, claims in the court

LIMITATIONS

✗  Less than 28 sq. m. lot area

✗  Less than 18 sq. m. condominium floor area

✗  Properties with road right of way less than 1.5 meters

✗  Land types classified other than residential use

ADVISORY

ATTENTION TO ALL HOUSING LOAN BORROWERS

As mandated by R.A. 9510 pr the Credit Information Systems Act (CISA), the Pag-IBIG Fund is required to submit its housing loan borrower's Basic Credit Data and other credit information to the Credit Information Corporation (CIC).

CISA aims to address the need for a comprehensive, centralized and reliable credit information system, thereby establishing the creditworthiness of the borrower.

All data submitted to the CIC shall be covered by strict confidentiality and shall be used only for the declared purpose of the Act.

Thank you.

SOURCE: https://www.pagibigfund.gov.ph/AffordableHousingLoan.html