Pag-Ibig Housing Loan Process
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“How can I apply for a Pag-IBIG Housing Loan?”
Step #1: Attend The Loan Orientation. Officially, it’s called Loan Counselling Session. It’s conducted at any Pag-IBIG Office all over the Philippines. Check your nearest Pag-IBIG Fund office to check their scheduled Loan Counselling Session.
Step #2: Fill Up Some Documents. Normally, you will be asked to accomplish the following documents:
Preliminary Counselling Questionnaire – Some basic questions that are easy to answer.
Membership Status Verification Slip (MSVS) – This will be used by the assigned staff to check your records and contributions to the Pag-IBIG Fund.
Housing Loan Application (HLA) – This is the official document where you signify your intention of getting a loan.
If you are qualified for a loan, you will be given the Checklist of Requirements (COR) depending on the purpose of your housing loan. Fill-up the HLA only after knowing your status. (Read Step 3)
Related: Are you qualified for a Pag-IBIG Housing Loan? Click here to find out.
Step #3: Submit HLA And Other Required Documents. This will probably take a couple of days to comply. But once all of the documents in the requirement checklist are ready, submit them together with the Loan Application Form. You will be asked to pay the processing fee, which is non-refundable.
Step #4 Wait for The Notice of Loan Approval or Letter of Guaranty. Or if you can’t wait on your mail box, phone them to follow-up the status of your loan application.
Step #5. Sign Loan Documents. There are some and will be provided at the Pag-IBIG Fund office.
Step #6: Visit the Bureau of Internal Revenue and Registry of Deeds.
Pay for the documentary stamps and capital gains tax at the BIR.
Have the Registry of Deeds put an annotation of mortgage on the Land Title.
Step #7. Get Loan Proceeds. But you have to show Pag-IBIG Fund the following documents:
Original Transfer Certificate of Title (TCT) in the name of the applicant with annotated mortgage
Deed of Absolute Sale with original stamp from the Registry of Deeds
New Tax Declaration in the name of the applicant
Updated Real Estate Tax Receipt (for house and lot, if applicable)
Occupancy Permit (secured from LGU Engineering Office, if applicable)
Assignment of Loan Proceeds
That’s it for the Pag-IBIG Housing Loan process — only seven steps.
Most likely, you will also be asked to make an advanced payment on the first monthly amortization immediately following the loan release. So have your cash or check ready.
Further Note: If you are buying a property from a real estate developer, this whole process would be easier. All that are needed is for you to follow Steps 1 to 3. Ask your agent or broker if he/she can assist on the housing loan application most often you will be extended an assistance.
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Documents Required Upon Loan Application
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Housing Loan Application (HLA) notarized with ID photo – original copy
Approved Membership Status Verification Slip (MSVS) – original copy
Certified true copy of Transfer Certificate Title (TCT) of the property by the Registry of Deeds (latest title)
Photocopy of updated Tax Declaration
Location plan and Vicinity map
For Employed Pag-IBIG Members:
Notarized Certificate of Employment and Compensation (Pag-IBIG Format)
Notarized Certificate of Employment and Compensation (Employer’s Format) and one month latest Pay Slip
Income Tax Return/Certificate of Tax Withheld (W2 – Form 2316) and one month latest Pay Slip
For Self-Employed Pag-IBIG Member:
Income Tax return (one year) with Audited Financial Statements and Official Receipt of tax payment from Bank
DTI Registration
Business or Mayor’s Permit
For Pag-IBIG Overseas Program (POP):
Employment Contract or Employer’s Certificate of Income, duly certified
by the employer (with English translation if in foreign language) or
other valid Proof of Income
Special Power of Attorney (SPA)
notarized prior to date of departure or duly certified and authenticated
by the Philippine Embassy or Consulate in the country where the member
is staying, for members abroad
See also: Top 5 Things Every OFW Should Know About The New Pag-IBIG Law of 2009
Additional Requirements
pag-ibig housing loan application
Depending on the purpose of your housing loan, Pag-IBIG may ask that you submit the following upon Loan
Application.
Purchase of Lot or Purchase of Residential Unit
Contract to Sell Purchase Agreement – original copy.
House Construction or Home Improvement
Building Plans, Specifications and Bill of Materials duly signed by the Licensed Civil Engineer or Architect
Real Estate Tax Receipt
Refinancing of an Existing Loan
Statement of Account on the outstanding balance and also indicating the purpose of the loan
Any of the following documents:
Official Receipt for the past twelve months
Subsidiary Ledger
Any proof of payment for the past twelve months
Lot Purchase and House Construction
Comply the requirements for lot purchase and for lot construction.
Note: Pag-IBIG Fund reserves the right to require additional requirements
to facilitate the loan evaluation process.
Documents required prior to Loan Release (upon approval)
TCT in the name of the borrower with proper mortgage annotation in favor of Pag-IBIG Fund (Owner’s Copy)
Certified true copy of TCT in the name of the borrower with proper mortgage annotation in favor of Pag-IBIG Fund (RD’s copy)
Photocopy of New Tax Declaration in the name of the Borrower and Updated Tax Receipt
Proof of Billing
Loan Mortgage Documents
Loan and Mortgage Agreement with original RD stamp
Notarized Promissory Note
Disclosure Statement on Loan Transaction
For The Employed Members : Collection Servicing Agreement with Authority to Deduct Loan Amortization or Post – Dated Checks
For The Self–Employed Members: Post–Dated Checks
Additional Documents Prior to Loan Release Depending on Loan Purpose
Purchase of Lot or Purchase of Residential Unit:
Deed of Absolute Sale with original RD stamp.
House Construction or Home Improvement:
Building, Electrical, and Sanitary Permits duly approved by the building officials
Occupancy Permit.
