Pag-IBIG House Loan Refinancing Requirements 2023 — A Guide for Member-Borrowers

List of Pag-IBIG House Loan Refinancing Requirements 2023 for Application Process

PAG-IBIG HOUSE LOAN REFINANCING REQUIREMENTS 2023 – You can check the documents required by the Pag-IBIG Fund here.

The members of the Pag-IBIG Fund can turn to the government agency for financial solutions. The assistance offers come in the form of loans that either attend to multiple purposes or specific purposes.

Aside from the Pag-IBIG cash loan, another loan offer of the government agency that serves several purposes is the Housing Loan. Under the offer, the member-borrower may apply for financing for a take-out of an existing home loan in another entity.

Under the loan offer, the member-borrower may borrow up to P6 million. The members also have the options of combining three (3) Pag-IBIG accounts for a single loan. This is usually done when the target amount to borrow is huge.

Pag-IBIG Fund Loans For Members — Photo Credit: BusinessWorld Online

Who are qualified to apply for the Pag-IBIG House Loan Refinancing 2023? Here are the eligibility requirements that the member-borrower must meet to qualify for the loan offer:

active member
has posted at least 24 months savings
not more than 65 years old at the date of loan application but not more than 70 years old at the date of loan maturity
has the legal capacity to acquire and encumber real property
has noo Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered

According to the Pag-IBIG Fund, in case the member-borrower has an existing Pag-IBIG Housing account or Short Term Loan (STL), the payments must be updated to qualify for the loan offer.

Aside from the eligibility requirements, there are also Pag-IBIG House Loan Refinancing requirements 2023 pertaining to the documents that an applicant must submit to the government agency. Here are the documents required in the application to the loan offer:

two (2) copies of the Pag-IBIG Housing Loan Application Form (HQP-HLF- 068/HQP-HLF- 069) with recent ID photo of borrower/co-borrower (if applicable)
one (1) valid ID
- Principal Borrower
- Co-borrower
- Seller
- Developer’s Authorized Representative and Attorney-in-Fact
- Spouses of the parties involved, if applicable
proof of Income
- If employed, prepare any the following documents:
  - Certificate of Employment and Compensation (CEC)
    - indicating the gross monthly income and monthly allowances or monthly monetary benefits received by employee
    - duly signed by the authorized signatory of the employer
  - Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application
  - one (1) month payslip, within the last three (3) months prior to date of loan application
- If self-employed, prepare any of the following documents:
  - Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months)
  - ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit
  - Copy of Lease Contract and Tax Declaration (if income is derived from rental payments)
  - Bank Statements or passbook for the last 12 months
  - 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
- If overseas Filipino worker (OFW), prepare any of the following:
  - Employment Contract
    - Employment Contract between employee and employer or POEA Standard Contract
  - Notarized Certificate of Employment and Compensation (CEC)
    - CEC written on the Employer/Company’s official letterhead or CEC signed by employer
Transfer Certificate of Title (TCT)
Updated Tax Declaration
Updated Real Estate Tax Receipt (photocopy)
Latest Statement of Account on Outstanding Loan Balance duly signed by the Manager or the account officer, together with any of the following:
- Official receipt (or any valid proof of payment) for the past 6 months
- Subsidiary Ledger
Vicinity Map/Sketch of the Property