Pag-IBIG Loan Requirements 2024 — Here's A Complete Guide for Members

Lists of Pag-IBIG Loan Requirements Members Must Prepare in Applying

PAG-IBIG LOAN REQUIREMENTS 2024 – You can check here the complete lists of requirements in applying for the loans of the Pag-IBIG Fund.

The Pag-IBIG Fund is one of the biggest state entities in the Philippines with millions of members from across the nation. In fact, there are also overseas Filipino workers (OFWs) who are in the pursuit of maintaining active memberships to the Fund.

To maintain an active membership to the Fund, a member must regularly post monthly contributions. The contribution rate has been raised from Php 200.00 to Php 400.00 per month.

Pag-IBIG Fund members with updated accounts may qualify to the loans offered by the state entity. Thus, an updated membership account is an excellent preparation against the financial emergencies.

Pag-IBIG Loan Requirements 2024 — Photo Credit: BusinessWorld Online

The Pag-IBIG Fund has three (3) main loan offers — the Housing Loan, the Multi-Purpose Loan, and the Calamity Loan. The Pag-IBIG loan requirements vary depending on which loan you want to apply for.

Pag-IBIG Multi-Purpose Loan

The most flexible loan offer of the Fund is the Pag-IBIG Multi-Purpose Loan offer or also called the MPL. This Pag-IBIG cash loan offer can attend to multiple short-term needs. Here are the Pag-IBIG loan requirements 2024:

Eligibility Requirements:

have posted at least 24 monthly savings under the Pag-IBIG Regular Savings Program
active membership to Pag-IBIG Fund with at least one (1) monthly membership savings within the last six (6) months prior to the date of the loan application
have proof of income

Documentary Requirements:

If Employed
- duly-accomplished and signed Pag-IBIG Multi-Purpose Loan Application Form
- photocopy of one (1) valid ID
- Certificate of Net Pay
  - This portion of your MPL Application Form which is found at the back of the form must be accomplished by your employer; or
- photocopy of one (1) month latest payslip duly authenticated by an authorized signatory of the company
If Self-Employed
- duly-accomplished and signed Pag-IBIG Multi-Purpose Loan Application Form
- photocopy of one (1) valid ID
- proof of income (any of the following):
  - photocopy of Income Tax Return (ITR) and Official Receipt of tax payment from bank supported with DTI Registrant and Mayor’s Permit or Business Permit
  - original copy of bank statements or passbook for the last 12 months
  - original copy of Commission Vouchers indicating the name and contact details of the issuer
  - original copy of Certified True Copy of Transport Franchise
  - original copy of the Notarized Affidavit of Income
  - original copy of the Certificate of Engagement issued by the business owner
If Overseas Filipino Worker (OFW)
- duly-accomplished and signed Pag-IBIG Multi-Purpose Loan Application Form
- photocopy of one (1) valid ID
- proof of income (any of the following):
  - Employment Contract
    - photocopy of the Employment Contract between the employee and employer or original copy of the POEA Standard Contract
  - Certificate of Employment and Compensation (CEC)
    - CEC written on the Employer; or
    - CEC signed by employer supported by a photocopy of the ID and passport of the employer
  - Original copy of Income Tax Return filed with Host Government or Country

Pag-IBIG Housing Loan

The most popular loan offer of the government entity is the Pag-IBIG Housing Loan. Under the offer, a member may apply for it for the financing of a residential property acquisition, house construction, home renovation, and home loan take-out. Here are the documents required by the Fund in applying for the loan offer:

Eligibility Requirements:

active Pag-IBIG Fund member with at least 24 months savings
legal capacity to acquire or encumber a real property
not more than 65 years of age upon the loan application and not more than 70 years of age upon the loan maturity
no Pag-IBIG housing loan cancelled, foreclosed, voluntarily surrendered, or bought back
payment must be updated if with existing housing loan or short term loan accounts

Documentary Requirements:

two (2) copies of the Pag-IBIG Housing Loan Application Form 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

For Residential Property Acquisition:

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 House Construction:

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

Pag-IBIG Calamity Loan

The Pag-IBIG Fund has also crafted a loan offer that its members can turn to in times of natural disaster — the Pag-IBIG Calamity Loan. Here are the Pag-IBIG loan requirements under the offer:

Eligibility Requirements:

at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings
active membership, by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application

Documentary Requirements: