Category: PagIBIG


1 jan 17

Pag-IBIG offers the provision of home financing programs for both new and repossessed (or acquired) housing properties that were developed by Pag-IBIG.  Active members have the option to purchase an acquired Pag-IBIG property at negotiated rates.

Acquired assets are foreclosed properties (house and lot) that are auctioned off by Pag-IBIG to the public at cheaper rates.  These are not “brand new” houses; these are properties that are repossessed due to non-payment of the original owners.  Once auctioned by Pag-IBIG, it becomes a possible alternative for other active members that are unable to take on the costs of a brand new housing unit.

If you are thinking of applying for a Pag-IBIG housing loan, it may be good to weigh your options and see if an acquired asset is something you can consider.

Here are the steps and requirements needed when applying for a Pag-IBIG loan for acquired properties under negotiated sale:

  1. Reserve the property and pay the Php 1,000 reservation fee (non-refundable/non-transferrable). Bring one valid ID and choose among the following modes of payment:
  • Cash – 30% discount; payment term of 1 month.
  • Installment – 20% discount; up tp 12 months only, with 12% interest rate per annum.
  • Housing Loan – 10% discount, for qualified members of Pag-IBIG Fund; up to 30 years, provided that borrower’s age shall not exceed 70 years old at date of loan maturity.
  1. For purchase through housing loan, submit the complete documentary requirements within 30 calendar days from payment of reservation fee and pay the processing fee of Php 2,000 and Documentary Stamp Tax of Php 100.00.
  2. Receive the Notice of Approval of Loan and pay the one (1) year advance insurance premiums within 30 days.
  3. Execute and submit the notarized Deed of Conditional Sale and other mortgage documents evidencing the loan in favor of the Fund.

Below are the BASIC REQUIREMENTS for:

SELF-EMPLOYED applicants:

  • Accomplished Buyer’s Information Sheet (2 copies) with recent 1×1 ID photo (2 copies).
  • One (1) valid ID (photocopy, back to back) of Principal Buyer and Spouse, Co-Buyer and Spouse, if applicable.
  • Proof of Income for (any of the following):
    1. Owned Business
      • Income Tax Return (ITR)
      • Audited Financial Statements
      • Official Receipt of Tax Payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit.
    2. Commission Base
      • Commission Vouchers reflecting the issuer’s name and contract details (for the last 12 months).
    3. Drivers
      • Certified True Copy of Transport Franchise issued by an appropriated government agency (LGU for tricycles, LTFRB for other PUVs).
    4. Foreign Remittances and Pensions
      • Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittances, pensions, etc.
    5. Rental Payments
      • Copy of Lease Contract and Tax Declaration (if income is derived from rental payments).
    6. Sari-sari Store/Mini Groceries, Sub-contractor, On-call Maintenance, Technician
      • Brgy. Certificate/Clearance
      • Properly Accomplished Certificate of Engagement, duly notarized.

Additional Requirements:

  • Copy of Frequently Asked Questions (FAQs) with signature.
  • Photocopy of Php 1,000 reservation fee receipts.
  • Photocopy of 1 valid ID of the signatory in the Certificate of Engagement
  • Insurance Coverage (if applicable only)
    • Health Statement form (Medical Questionnaire)
      • For borrowers over 60 years old
      • For borrowers up to 60 years old, if loans are over P2.0M to P6.0M
    • Health Statement Form (Medical Questionnaire) and a copy of the result of a medical examination conducted prior to assignment overseas as required by the employment agency.
    • For OFW borrowers over 60 years old.

Locally Employed

Basic Requirements:

  • Accomplished Buyer’s Information Sheet (2 copies) with recent 1×1 ID photo (2 copies)
  • One (1) valid ID (photocopy, back to back) of Principal Buyer and Spouse, Co-buyer and Spouse, if applicable.
  • Proof of Income (any of the following):
    • Notarized Certificate of Employment and Compensation (CEC) indicating the gross monthly income and monthly allowances or monthly benefits received by the employee.
    • Certified One (1) month payslip, within the last three (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 BIR Form No. 2316, stamped received by the BIR.

Note: Government employees must present one-month payslip issued within the last three months prior to the date of loan application and submitted together with CEC or ITR.

Additional Requirements:

  • Copy of Frequently Asked Questions (FAQs) with signature.
  • Photocopy of Php 1,000 reservation fee receipt.

Insurance Coverage (if applicable only)

  • Health Statement Form (Medical Questionnaire)
    • For borrowers over 60 years old
    • For borrowers up to 60 years old, if loans are over P2.0M to P6.0M
  • Health Statement Form (Medical Questionnaire) and a copy of the result of the medical examination conducted prior to assignment overseas as required by the employment agency.
    • For OFW borrowers over 60 years old.

If you have more questions about Pag-IBIG’s acquired assets, you may call their hotline at 02-724-4244.  They are available 24×7.

Source: www.pagibigfund.gov.ph

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1 jan 16

Active members of the Pag-IBIG Fund are entitled to avail of housing loan privileges; you can choose to build a house, buy one that is up for sale, or choose from among Pag-IBIG’s acquired assets.  It is the most affordable means to own a home through its payment terms and low interest rates.

To help you get started on your housing loan application, we are sharing Pag-IBIG’s six simple steps as published on their website.

  1. Get your CHECKLIST OF REQUIREMENTS.
  • Housing Loan (HL) application form and other related forms are available at the Servicing Department, 2nd floor JELP Business Solutions Bldg., #409 Shaw Blvd., Mandaluyong City (for NCR accounts) or at any provincial branch office (for provincial accounts). These forms are also downloadable at pagibigfund.gov.ph.
    • Health Statement Form (Medical Questionnaire)
      • For OFW applicants over 60 years old.
      • Loans over P2M to P6M and for borrowers aged up to 60 years old.
    • Health Statement Form (Medical Questionnaire) and Full Medical Examination
      • All borrowers over 60 years old.
  1. Submit your Housing Loan Application to the Pag-IBIG Fund with complete requirements. Pay partial processing fee of Php 1,000 (non-refundable).
  • For NCR properties, file at any of the following:
    • JELP Business Solutions Building – Shaw Blvd., Mandaluyong City.
    • Kamias Branch – #795 Anchor Center EDSA, Quezon City (near GMA Kamuning Station)
    • 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 housing loan application via www.pagibigfund.gov.ph, click “E-Services”.

  1. 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.
  1. 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 the Pag-IBIG Fund.
  • For purchase of House and Lot Mortgaged with Pag-IBIG Fund
    • Proceed to the BIR for payment of Captial 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 a trip to the Registry of Deeds (RD) for transfer of title and annotation of the mortgage.
    • Proceed to the LGU for transfer of Tax Declaration.
    • Submit complete requirements to the Pag-IBIG Fund.
  • For the 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 the mortgage.
    • Submit complete requirements to the 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 the mortgage.
    • Submit complete requirements to the Pag-IBIG Fund.
  1. Receive loan proceeds at the Pag-IBIG Fund
  • Payee to bring two (2) valid IDs.
  • The payee is either the:
    • Borrower
    • Seller
    • The third party to which the loan proceeds are 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.
  1. Start paying your monthly amortization.
  • One month from 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 based on progress of construction.

For more information on Pag-IBIG Housing Loan or any question you may have regarding your Pag-IBIG membership, you may call their hotline at 02-724-4244.

Have you tried applying for a home loan at the Pag-IBIG? Tell us about your experience!

Source: http://www.pagibigfund.gov.ph

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May 03 - 2 (1)

Are you planning to buy a house soon?  Have you considered getting one through a Pag-IBIG housing loan?

Here are some facts and figures that could help you decide on availing a real estate property through your Pag-IBIG membership.

  • Lower interest rates for Regular Housing Loan

Effective February 14, 2018, the Pag-IBIG began offering home loan interest rates for as low as 5.67% per annum (from 5.5%) for a 1-year fixing period, and 6.37% per annum (from 6.5%) for a 3-year fixing period.  This applies to members who are willing to pay a 25% equity upfront.

Members can borrow up to P6-million, depending on their monthly salary and the loan may be payable up to 30 years.

Pag-IBIG boasts that their interest rates are at an all-time low this year (2018) and therefore, is the best time to avail of a housing loan from the agency.

  • More affordable pabahay for minimum-wage earners.

Lowest interest rate at 3% per annum.

Roughly P1,897.22 monthly amortization for the first five years of a P450,000 loan, over a 30-year repayment period).

No equity

For developer-assisted housing loans up to the prevailing maximum limit for socialized housing loan, the LTV ratio shall be 100% provided the developer’s License to Sell is for a socialized housing project and the loan purpose is for the purchase of a residential unit.

Longer loan term of up to 30 years.

Only 7 documents to apply!

  • Pag-IBIG offers Online Housing Loan Application.

You have the option to submit your application online at http://www.pagibigfund.gov.ph/HousingLoan

  • Housing Loan Programs Orientation
    • Every Saturday at 2/F JELP Business Solutions Building, 409 Shaw Blvd., Mandaluyong City
    • Every 2nd Saturday of the month at 3/F Lecture Hall B, Legislative Building, Quezon City Hall.
    • Every 3rd Saturday of the month at Rizal Provincial Capitol Multi-purpose Hall, Antipolo City

All orientation programs run from 9Am to 11AM and are given for free to all interested housing loan applicants.

For more information about Pag-IBIG housing loans, you may call their hotline at 02-724-4244 or visit their website at www.pagibigfund.gov.ph

 

Reference:  http://www.pagibigfund.gov.ph

 

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Apr 17 (2)

If you plan to apply for a Pag-IBIG housing loan soon, know that the first thing you need to do is attend a loan counseling session at designated Pag-IBIG offices.  To help you plan your trip to Pag-IBIG, here are their schedules for the said counseling session, as well as the addresses of the offices where they hold such talks:

  • Every TUESDAY and THURSDAY

3/F Training Room, Kamias MSB

#795 Anchor Center, Edsa, Quezon City

(Near GMA-Kamuning MRT Station)

  • Every SATURDAY

2/F JELP Business Solutions Building

409 Shaw Blvd., Mandaluyong City

  • Every 2ND SATURDAY OF THE MONTH

3/F Lecture Hall B, Legislative Building,

Quezon City Hall

  • Every 3RD SATURDAY OF THE MONTH

Rizal Provincial Capitol Multi-purpose Hall

Antipolo City

All orientations are scheduled to start at 9:00AM and will end at 11:00AM.  You do not need to pay anything to attend the seminar.  You just need to be at the venue or session hall on time, with a pen and paper for your notes.  You may approach any Pag-IBIG staff after the session if you have further questions.

Reference: www.pagibigfund.gov.ph

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Mar 13

Apart from being a member of the SSS, you will also be required by your employers to submit your Pag-IBIG membership number.  Pag-IBIG, or the Home Development Mutual Fund is a Government-owned and controlled corporation responsible for the administration of affordable shelter financing to Pinoys.

Like SSS, there are different types of membership under Pag-IBIG.  You could be an employed member, self-paying (or voluntary), self-employed, or an OFW.  Each type of membership has different sets of membership requirements and contribution rates.

If you have not yet signed up with the Pag-IBIG Fund, today’s blog is for you.  Read and share!

5 Steps to Become a Pag-IBIG Member for Employees

  1. Visit the nearest Pag-IBIG office in your area.
  2. Proceed to the Marketing and Enforcement Division.
  3. Request for a copy of the Membership Registration/Remittance Form or MMRF. You may also download and print a copy through this link: http://bit.ly/2IojV71
  4. Fill out 2 copies of the MMRF and submit to the MED, along with a Member’s Data Form. You may download a copy here:  http://bit.ly/2kpyO11
  5. Submit an SSS Coverage and Compliance Certificate for the current year. If you are a government employee, submit your GSIS Certificate of Membership.

Your Pag-IBIG number will be handed to you on the same day.

You also have the option to apply for your membership online through www.pagibigfundservices.com.  Most multi-national companies process the Pag-IBIG membership of newly-hired employees.

Once your Pag-IBIG number is issued, your employer may begin remitting your monthly contribution (deducted from your salary) to the agency.

How much should you contribute to the Pag-IBIG Fund?

Below is the Pag-IBIG Contribution Table for 2018:

Pagibig Contribution Table 2018

 

Self-paying Employees

If you prefer to personally remit your contributions to the Fund, you need to submit the following:

  • Certificate of Employment and Compensation
  • Latest pay slip
  • Company ID

For Self-employed Individuals

If you work from home, run your own business, or a self-employed professional, you may register as a Pag-IBIG member under the Self-employed category.  The following are required upon registration:

  • Latest Income Tax Return (ITR) with Financial Statement certified by an accountant.
  • PRC/BAR license (if licensed professional).
  • Certificate of Remittance / ESAV (for old members)
  • SEC or DTI Registration
  • Business Permit or Mayor’s Permit
  • Two 1×1 ID photos

For OFWs

Even while you are working abroad, you can still be a member of the Pag-IBIG Fund and contribute regularly.  The following are required upon registration:

  • Latest Contract of Employment stamped by POEA.
  • Passport or any valid ID
  • Certificate of Remittance/ESAV
  • Two 1×1 ID photos

If you are already deployed abroad, you can still have your membership and contributions facilitated by your spouse or relatives; you just need to execute a Special Power of Attorney to authorize them to transact with the Pag-IBIG Fund on your behalf.

For unemployed spouse

No longer employed and staying at home with the kids?  You can still be a member of the Fund and continue making regular contributions!  Just submit the following:

  • Letter of consent from the working spouse.
  • Certificate of Employment and Compensation of the working spouse.
  • Affidavit of Unemployment.

As a member of the Pag-IBIG Fund, you have the option to acquire a residential home for you and your family through easy payment terms.  You also have the privilege to apply for multi-purpose loans and are entitled to dividend payments upon retirement.  It is an additional means to save up for our future, apart from the SSS or GSIS.

Reference: www.pagibigfund.gov.ph

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07 - 31

Like your savings deposits in your bank, you also have the option to withdraw your contributions from the Home Development Mutual Fund (HDMF) or Pag-IBIG.  Each member has the right to refund their total accumulated savings or TAV, which includes their monthly savings, employer share, and total annual dividend earnings.

There are, however, certain criteria that a Pag-IBIG member needs to satisfy before he is deemed eligible to withdraw his contributions.

Find out how a member can qualify for Pag-IBIG fund withdrawal and the requirements when requesting for a refund.  Read on!

What are the criteria for membership termination and refunding of Pag-IBIG contributions?

A. Membership Maturity

  • Member must have at least 240 monthly membership contribution.
  • Pag-IBIG Overseas Program (POP) members should have accumulated 4, 10, 15, or 20 years contributions depending on the option chosen upon membership registration.

B. Retirement

  • Member must be at least 65 years old – the mandatory retiring age.
  • Optional retirement may be availed due to the following circumstances:
    • Actual retirement from the SSS, the GSIS, or a separate employer provident/ retirement plan, provided the member has at least reached age 45.

C. Permanent Total Disability or Insanity

  • Temporary total disability lasting continuously for more than 120 days;
  • Complete loss of sight of both eyes;
  • Loss of two limbs at or over the ankle or wrist;
  • Permanent complete paralysis of two limbs;
  • Brain injury resulting in incurable imbecility or insanity; and
  • Such other cases which are adjudged to be total and permanent disability by a duly licensed physician and approved by the Board of Trustees.

D. Termination from service by reason of health.

E. Permanent departure from the country.

F. Death

The benefits will be divided among the member’s legal heirs in accordance with the New Civil Code as amended by the New Family Code.

Requirements when claiming your Pag-IBIG Fund Refund

  1. Application for Provident Benefits Claim
  2. Pag-IBIG Transaction Card and one (1) valid ID card with photo and signature of claimant.
    • If the Pag-IBIG Transaction Card is not available, two (2) valid ID cards with photo and signature of claimant.
  3. Service Records (for government employees only).
  4. Statement of Service (for AFP)

Additional Requirements depending on reason for claim:

Death

  1. PSA Certified True Copy of Member’s Death Certificate 
  2. Notarized Proof of Surviving Legal Heirs
  3. PSA Certified True Copy of Birth Certificate of all children or Baptismal / Confirmation Certificate (if with children).
  4. Notarized Affidavit of Guardianship (if with children below 18 years old, or if child/children is/are physically or mentally incompetent).
  5. To establish kinship with the deceased member, the claimant shall submit any one of the following:
    • PSA Certified Tru Copy of Member’s/Claimant’s Birth Certificate
    • PSA Certified True Copy of Non-availability of Birth Record and Notarized Joint Affidavit of Two (2) Disinterested Persons.
    • Certified True Copy of Member’s / Claimant’s Baptismal / Confirmation Certificate.
    • If member is single, Certificate of No Marriage (CENOMAR).
    • If member is married, PSA Certified True Copy of Member’s Marriage Contract and Advisory on Marriage.

Retirement

  1. PSA Certified True Copy of Birth Certificate
  2. PSA Certified True Copy of Non-availability of Birth Record and Notarized Joint Affidavit of Two Disinterested Persons.
  3. Notarized Certificate of Early Retirement (for private employees only, at least 45 years old).
  4. GSIS Retirement Voucher (for government employees).
  5. Order of Retirement (for AFP).

Permanent Total Disability or Insanity / Termination from the Service by Reason of Health

Physician’s Certificate / Statement (with clinical or medical abstract).

Permanent Departure from the Country

  1. Photocopy of Passport with Immigrant Visa / Residence Visa / Settlement Visa or its equivalent.
  2. Notarized Sworn Declaration of Intention to Depart from the Philippines Permanently (no need to submit if already based abroad).

Procedure on how to claim refund:

  1. Visit the nearest Pag-IBIG Fund office in your area.
  2. Present your ID to a Pag-IBIG staff and inquire about fund withdrawal.
  3. Your Pag-IBIG account will be verified for any applied or outstanding housing loan or short-term loan.
  4. You will be advised to secure your application for Provident Benefits Claim after verification.
  5. Submit your application form and get your claim stub with the date when refund check is ready for pick-up.

You may request for your TAV print out by visiting the nearest Pag-IBIG office or by sending them an email at contactus@pagibigfund.gov.ph.

Source: www.pagibigfund.gov.ph

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