Pagibig.jpg

The highlight of an individual’s adult life is when he begins acquiring assets out of the money he earned from his employment or business. Our foremost dream is to be able to purchase our own home where our family can reside safely and peacefully.

With Pag-IBIG’s housing loan, buying a house has become easier and more affordable for the Filipino. So if you are planning on buying a house, a condominium or townhouse unit, and thinking of getting it through a Pag-IBIG Housing loan, here are the requirements and processes you need to undergo. It may look like a long list but believe me, it is a lot easier than most of us think.

This was lifted from the Pag-IBIG website: www.pagibigfund.gov.ph

  1. Get your checklist of requirements, Housing Loan (HL) application form and other related forms at:
    • For NCR Accounts: Servicing Department, 2nd floor JELP Business Solutions Building, 409 Shaw Boulevard, Mandaluyong City
    • For Provincial Accounts: Any provincial Pag-IBIG branch office.
    • You may also access the form at www.pagibigfund.gov.ph, click on “Forms”
    • Accomplish the following forms prior to filing:
      • Health Statement form (Medical Questionnaire)
        • For OFW members over 60 years old
        • For Loans over P2M to P6M and for borrowers aged up to 60 years old.
      • Health Statement Form (Medical Questionnaire) and Full Medical Examination
        • Borrowers over 60 years old
  2. Submit your Housing Loan Application to the Pag-IBIG Fund with complete requirements. Pay partial processing fee of P1,000 (non refundable).
    • For NCR Properties, file at any of the following:
      • JELP Business Solutions Building: 409 Shaw Blvd., Mandaluyong City
      • Kamias Branch: 795 Anchor Center EDSA, Quezon City
      • Imus Branch: Olma Bldg., Emilio Aguinaldo Highway, Imus, Cavite
      • Provincial Properties: To be filed at the Pag-IBIG office nearest the subject property
      • Processing period: 20 working days (inclusive of Credit Investigation and Property Valuation)
      • You may also file your HL application online via www.pagibigfund.gov.ph, click “E-Services”.
  3. Receive your Notice of Approval (NOA)/Letter of Guaranty (LOG) and sign your loan documents.
    • NOA will be released ONLY to the borrower or to the Attorney-In-Fact for OFW borrowers, provided with SPA.
  4. Accomplish your NOA requirements for check release
    • You are given 90 calendar days to do the following:
      • For purchase of House and Lot/Purchase of Condominium Unit/Purchase of Lot
        • Give LOG to the seller
        • Proceed to the BIR for payment of Capital Gains Tax and Documentary Stamp Tax. The BIR will issue Certificate Authorizing Registration.
        • Proceed to the Local Government Unit (LGU) for payment of Transfer Tax
        • Proceed to the Registry of Deeds (RD) for the transfer of the title and annotation of mortgage
        • Proceed to the LGU for the transfer of Tax Declaration
        • Submit complete requirements to Pag-IBIG Fund.
      • For purchase of House and Lot mortgaged with Pag-IBIG Fund
        • Proceed to the BIR for payment of Capital Gains Tax and Documentary Stamp Tax. The BIR will issue Certificate Authorizing Registration
        • Proceed to the Local Government Unit (LGU) for payment of Transfer Tax
        • Go to the Pag-IBIG office to schedule trip to the Registry of Deeds (RD) for transfer of title and annotation of mortgage
        • Proceed to the LGU for transfer of Tax Declaration
        • Submit complete requirements to Pag-IBIG Fund
      • For construction of House/Home Improvement
        • Proceed to the BIR for payment of Documentary Stamp Tax
        • Proceed to the Registry of Deeds (RD) for annotation of mortgage.
        • Submit complete requirements to Pag-IBIG Fund.
      • For refinancing
        • Proceed to the bank/financing institution to give the Letter of Guaranty (LOG) and Loan and Mortgage Agreement (LMA).
        • Proceed to the Registry of Deeds (RD) for annotation of mortgage.
        • Submit complete requirements to Pag-IBIG Fund.
  5. Receive loan proceeds at the Pag-IBIG Fund
    • Payee to bring two (2) valid IDs. (Payee is either the borrower, the seller, or a third party to which the loan proceeds is assigned to be released). Borrower to bring 12 PDCs (if payment is not thru Salary Deduction).
    • Loan proceeds will be released to the person/institution assigned by the borrower/buyer.
  6. Start paying your monthly amortization.
    • One month from the DV/Check Date
    • For house construction/home improvement, one month from DV Check Date of the final loan release.
      • For house construction or home improvement, the loan release shall be staggered on progress of construction.

The list of requirements can be accessed here. The list includes the PSA Birth Certificate of the borrower and co-borrowers included in the computation of the aggregate income. If you are married, you would also need to submit your PSA Marriage Certificate.