SINO-SINO PWEDE MAG-APPLY NG PAG-IBIG HOUSING LOAN?

The program may be availed of by members who satisfy the following requirements:

1. On Pag ibig Membership:

• Must be a member under the Pag-IBIG I Membership Program for at least twenty-four (24) months, as evidenced by  the remittance of a least 24 monthly contributions at the time of loan application.
• A member who has contributed for at least two (2) years shall be required to pay the upgraded contribution rates upon housing loan approval and onwards.
• A NEW member who wishes to apply for a housing loan and remit his membership contributions in lump sum shall be required to pay the membership contribution that correspond to the loan amount applied for to cover the 24 months membership contributions shall be considered a single contribution for applicable month as of the payment date.
• Similarly, a member who has existing monthly contributions that are still short of the 24 monthly membership requirement may pay his contributions for the succeeding months in lump sum based on the membership contribution that correspond to the loan amount applied for.
• After filing the housing loan application. The member shall still be required to continue remitting monthly contributions based on the upgraded rate. However, if the approved loan amount is less than the loan amount applied for, the member shall pay his membership contributions that correspond to the approved loan amount upon the approval of his housing loan and every month therafter.
• For purposes of satisfying the membership requirement for housing loans, the period corresponding to the Total Accumulated Value (TAV) applied earlier to a member’s outstanding loan (offsetting) shall be considered when counting the total number of monthly contributions.
• Pag-IBIG Overseas Program (POP) contributions of Overseas Filipino Workers (OFWs) who are Pag-IBIG I members shall be considered in counting the total numbers of contributions for availment of housing loans.

2. Has a gross monthly income not exceeding ₱17,500.00 for those working in the NCR and ₱14,000.00 for workers in other regions; - for Circular No. 312 – Affordable Housing

3. AGE: At least 18yrs old and a regular employee but 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;

4. Has the legal capacity to acquire and encumber real property;

5. Has passed satisfactory background/credit and employment/business checks of Pag-IBIG Fund;

6. Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower.

7. Has no outstanding 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.

8. 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.