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Availment of Housing Loan

Availment of Housing Loan

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Published by geanndyngenlyn

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Published by: geanndyngenlyn on Oct 13, 2009
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07/28/2010

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1
AVAILMENT OF A Pag-IBIG HOUSING LOAN(
For Direct or Retail Loan Application
)
SERVICING UNIT NCR HOUSINGGROUP/MORTGAGE & LOANS DIVISION -REGIONAL/SUB-REGIONALOFFICE/MORTGAGE TAKE-OUTSECTION –Pag-IBIG INTERNATIONALOPERATIONS GROUP (PIOG)MEMBER-APPLICANT
Attend Loan Counseling
Accomplish PLCQ
If eligible, accomplish MSVS
Submit accomplished PLCQ andMSVS
STEP1
Counsel/screen member-applicant on the Pag-IBIG Housing Loan Program
Provide Preliminary Loan CounselingQuestionnaire (PLCQ) and Membership StatusVerification Slip (MSVS) (HDMF H8-8)If eligible, secure a Pag-IBIG HousingLoan Application form (HDMF H1-1)together with the checklist of requirements*
STEP2
Provide Pag-IBIG Housing Loan Application form(HDMF H1-1) and checklist of requirements
* Required Documents for submission upon loan application:
1.Housing Loan Application with ID photos of borrower (
 properly accomplished and duly notarized 
)2.Income Tax Returns (ITRs) and BIR Form No. 2316 for the last two years immediatelypreceding date of loan application3.Valid Certificate of Employment and Compensation (CEC) (
for Pag-IBIG I & II)/ 
EmploymentContract or Employer’s Certificate of Income duly certified by the employer (
for POP members
)
(where applicable)
4.Latest Payslip
(one-month)
5.Certified true copy of TCT/CCT/OCT by the Register of Deeds (
latest title
)6.Location Plan and Vicinity Map7.Photocopy of Updated Tax Declaration and Tax Receipt8.Special Power of Attorney (
for member/s abroad, SPA must be duly certified by thePhilippine Embassy or Consulate in the country where the member is staying 
)9.Medical Questionnaire and/or Full Medical Examination (
For loans over P750,000 and for borrowers over 60 years old)
10.Proof of Billing Address
 
2
SERVICING UNIT NCR HOUSINGGROUP/MORTGAGE & LOANS DIVISION -REGIONAL/SUB-REGIONALOFFICE/MORTGAGE TAKE-OUTSECTION –Pag-IBIG INTERNATIONALOPERATIONS GROUP (PIOG)MEMBER-APPLICANT
Submit accomplished HDMF H1-1 formtogether with the complete requireddocuments
STEP3
Check completeness of documents
Request applicant to pay the P1,000 processingfee
STEP4
Secure Payment Order Form (POF)Issue Payment Order Form to member-applicant
TREASURY HEAD OFFICE/ CASHDIVISION -REGIONAL/SUB-REGIONALOFFICE/PIOGSTEP5
Pay the initial processing fee of P1,000and upgraded monthly contribution (if applicable)Issue Pag-IBIG Fund Receipt (PFR) (HDMF T1-1)
NCR HOUSING GROUP/MORTGAGE &LOANS DIVISION -REGIONAL/SUB-REGIONAL OFFICE/MORTGAGE TAKE-OUT SECTION Pag-IBIGINTERNATIONAL OPERATIONS GROUP(PIOG)
Review/evaluate loan documents and conductocular inspection of the subject property
 
3
NCR HOUSING GROUP/MORTGAGE &LOANS DIVISION -REGIONAL/SUB-REGIONAL OFFICE/MORTGAGE TAKE-OUT SECTION Pag-IBIGINTERNATIONAL OPERATIONS GROUP(PIOG)MEMBER-BORROWER
STEP6
Receive the Notice of Approval(NOA) andsign the loan documentsPrepare and issue the Notice of Approvaltogether with the following loan documents:
Promissory Note & Loan and MortgageAgreement (PN with LMA) (HDMF H4-71)
Certificate of Lot Acceptance (
for lot purchase
)
Certificate of Lot/House Acceptance (
for  purchase of a residential unit 
)
Certificate of House Acceptance andCompletion (
for house construction
)
Disclosure Statement on Loan Transaction
STEP7
Proceed to the BIR and present theDeed of Absolute Sale (DOAS) executedby the owner of the property and theapplicant for the computation of documentary stamps and capital gainstax, and proceed to authorized banks for the payment of documentary stamps andcapital gains tax.
NOTE
: Authorized bank shall issue areceipt as proof of paymentwhich shall later be presented tothe BIR. The BIR shall thenissue to the member-borrower aCertificate AuthorizingRegistration.

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