Guide on the Requirements for Pag-IBIG House Construction Loan Application
REQUIREMENTS FOR PAG-IBIG HOUSE CONSTRUCTION LOAN – Here are the documents needed in applying for loan to Pag-IBIG Fund.
While some people are into getting a residential property that is ready for occupancy, there are still individuals who are firm in achieving their “dream house”. This means buying a vacant lot and constructing a house with a personalized design.
If you are a member of the Pag-IBIG Fund, you may turn to the government agency for a loan that could finance the construction of your dream house. It has actually helped a lot of people build their dream house.
There are some requirements for Pag-IBIG House Construction Loan application. For the initial requirements, here are the documents that you must gather and submit in filing your application:
- Housing Loan Application with recent ID photo of borrower/co-borrower (if applicable) (2 copies, HQP-HLF-068/069)
- Proof of Income (see details at the back)
- One (1) valid ID (Photocopy, back-to-back) of Principal Borrower and Spouse, Co-Borrower and Spouse
- Updated Real Estate Tax Receipt and Updated Tax Declaration and (photocopy), if applicable
- Building Plans, Specification with Bill of Materials duly signed by the Licensed Civil Engineer or Architect
After getting the Notice of Loan Approval, there are documents that you must gather and submit for the releasing of the loan proceeds. According to Pag-IBIG Fund, here are the other requirements for Pag-IBIG House Construction Loan:
- updated Real Estate Tax Receipt and Updated Tax Declaration (photocopy), if applicable
- Loan Documents
- Notarized Loan Agreement (For ROPA Accounts with House Construction or Home Improvement) (HQP-HLF-596)
- Duly accomplished/notarized Promissory Note (For ROPA Accounts with House Construction or Home Improvement) (HQP-HLF-597) for each loan release
- Disclosure Statement on Loan Transaction (HQP-HLF-085)
- Building Plans/Electrical/Sanitary Permits duly approved by the building official
- Occupancy Permit
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You may also read – Pag-IBIG Cash Loan Loanable Amount – Here’s How Much You May Borrow