Requirements for Pag-IBIG Housing Loan 2024 Application — A Guide for Members

by in Categories Pag-IBIG Fund

List of Requirements for Pag-IBIG Housing Loan 2024 Application Process

REQUIREMENTS FOR PAG-IBIG HOUSING LOAN 2024 – You can check the list below for the documents required by the Pag-IBIG Fund under the offer.

Nowadays, there are a lot of options that you can turn in case you want to purchase a residential property under a loan offer. One of these entities is the Pag-IBIG Fund which has been in the service of the Filipino people for decades now.

Requirements for Pag-IBIG Housing Loan 2024
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One of the Pag-IBIG Fund loans is the Housing Loan offer that offers the financing of several purposes related to residential properties. A qualified member may apply for the loan offer to fund any of the following:

  • an acquisition of a vacant residential lot
  • a purchase of a residential property
  • house construction
  • home renovation
  • home loan refinancing
  • combined purposes
Pag-IBIG Fund
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A member of the Fund may borrow up to P6 million under the loan offer. The loan is payable for up to 30 years depending on the age of the borrower upon the loan maturity. There are both eligibility requirements and documentary requirements for Pag-IBIG Housing Loan application.

To qualify for the loan offer, the member-borrower must be:

  • an active member with least 24 months savings
  • not more than 65 years old at the date of loan application and not more than 70 years old at the date of loan maturity
  • having a legal capacity to acquire and encumber real property
  • having no Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered

In case the Pag-IBIG member has an existing loan, the payments for the existing loan must be updated. With regards to the documentary requirements for the Pag-IBIG Housing Loan application, here are the general documents needed for all purposes of loan application:

  • 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 of the applicable parties
    • 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

There are also additional requirements for Pag-IBIG Housing Loan application depending on the specific purpose for loan application. Here’s a guide on what you need to submit to the Fund:

For Lot Purchase

  • Transfer Certificate of Title (TCT)
  • Updated Tax Declaration (House and Lot)
  • Updated Real Estate Tax Receipt
  • Contract-to-Sell or smiliar agreement between buyer and seller
  • Vicinity Map/Sketch Map

For Lot Purchase with House Construction

  • Transfer Certificate of Title
  • Updated Tax Declaration of Lot
  • Updated Real Estate Tax Receipt (photocopy)
  • Building Plans, Specification with Bill of Metrials duly signed by the Licensed Civil Engineer or Architect
  • Vicinity Map/Sketch of the Property

For House Construction / Home Renovation

  • Updated Tax Declaration (House and Lot)
  • Updated Real Estate Tax Receipt (photocopy)
  • Building Plans, Specification with Bill of Metrials duly signed by the Licensed Civil Engineer or Architect
  • Vicinity Map/Sketch of the Property

For Refinancing

  • 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

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