HOUSING VIA

Pag – IBIG HOUSING LOAN

Prepared By:
Diana May David
Liavina Pastor
Krisha Jean Manzano
Jeffrey Noriel
Karen Vicentina
 Eligibility Requirements
• On Pag-IBIG Membership
 Must be a member under the Pag-IBIG I, Pag-IBIG II or Pag-IBIG
Overseas Program (POP) for at least twenty-four (24) months
 A member with less than the required number of contributions
applying for a Pag-IBIG housing loan shall be allowed to make lump
sum payment based on the mandatory monthly membership
contribution rates to meet the said requirement at point of loan
application provided he has been a contributing member of the Fund
for at least twelve (12) months.
 loan exceeds P500,000.00
 A member who has contributed for at least two (2) years and whose
loans exceed P500,000.00 shall be required to pay the upgraded
contribution rates upon housing loan approval and onwards.
 Eligibility Requirements
• Not more than sixty-five (65) years old at the date of loan application
and must be insurable
• Has the legal capacity to acquire and encumber real property;
• Has passed satisfactory background/credit and
employment/business checks of the Pag-IBIG Fund
• Has no outstanding Pag-IBIG housing loan

• Had no Pag-IBIG housing loan that was foreclosed, cancelled,

bought back due to default, or subjected to dacion en pago
• Has no outstanding Pag-IBIG multi-purpose loan in arrears at the
time of loan application
 Application Process

• Get a checklist of requirements.

• Submit your HLA (Housing Loan Application) and other forms and
pay the processing fee of P1,000.
• Wait for your Notice of Approval (NOA)/Letter of Guaranty (LOG)
and sign your loan documents.
• Submit all your NOA requirements to PAG-IBIG Fund for the release
of your check.
• Receive your loan proceeds.
• Start your monthly amortization payments.
• Move – in
 Requirements
• 1. Housing Loan Application with recent ID photo of borrower/co-
borrower (if applicable) (2 copies, HQP-HLF-068/069)
• 2. Proof of Income
For Locally Employed, any of the following
 Notarized Certificate of Employment and Compensation (CEC)
 Latest Income Tax Return (ITR
 Certified One (1) Month Payslip, within the last three (3) months
prior to date of loan application
 Requirements
• For Self Employed, any  Bank Statements or passbook
for the last 12 months
of the following
 Copy of Lease Contract and
Proof/s of Income: Tax Declaration (if income is
 ITR, Audited Financial derived from rental payments)
Statements, and Official
 Certified True Copy of
Receipt of tax payment from
Transport Franchise issued by
bank supported with DTI
appropriate government
Registration and Mayor’s
agency
Permit/Business Permit
 Certificate of Engagement
 Commission Vouchers
issued by owner of business
reflecting the issuer’s name
and contact details (for the last  Other document that would
12 months) validate source of income
 Requirements
• For Overseas Filipino
Workers (OFW), any of
the following:
 Employment Contract
 Certificate of Employment and
Compensation (CEC)
 Income Tax Return filed with
Host Country/Government
 Requirements
• 3.One (1) valid ID (Photocopy, back-to-back) of Principal Borrower
and Spouse, Co-Borrower and Spouse, Seller and Spouse and
Developer’s Authorized Representative and Attorney-In-Fact, if
applicable
• 4.Transfer Certificate of Title (TCT) (latest title, Certified True Copy).
For Condominium Unit, present TCT of the land and Condominium
Certificate of Title (CCT) (Certified True Copy).
• 5.Updated Tax Declaration (House and Lot) and Updated Real
Estate Tax Receipt (photocopy)
• 6.Contract-to-Sell or similar agreement between the buyer and seller
• 7.Vicinity Map/Sketch of the Property
 REQUIRED DOCUMENTS
PRIOR TO LOAN RELEASE
• TCT/CCT in the name of the borrower/co-borrower/s (if applicable)
with proper mortgage annotation in favor of Pag-IBIG Fund
• TCT/CCT in the name of the borrower/co-borrower/s (if applicable)
(Certified True Copy) with proper mortgage annotation in favor of
Pag-IBIG Fund
• Updated Tax Declaration (House and Lot) and Updated Real Estate
Tax Receipt (Photocopy) in the name of the borrower/co-borrower/s,
if applicable
• Loan Mortgage Documents
ADDITIONAL REQUIREMENTS
(if applicable only)
• Upon Loan Application
For OFW members
 Special Power of Attorney
(SPA) notarized prior to
date of departure. For
OFW member abroad, a
SPA notarized by a
Philippine Consular Officer,
or SPA notarized by a local
notary (of the country
where the member is
working) but duly
authenticated by the
Philippine Consulate.
• Upon Loan Application
Insurance Coverage
 Health Statement Form
(Medical Questionnaire)
 Health Statement Form
(Medical Questionnaire) and
Copy of the result of medical
examination conducted prior to
assignment overseas as
required by the employment
agency
ADDITIONAL REQUIREMENTS
(if applicable only)
• For Purchase of Lot with
Construction of House (PLCH)
 Building Plans,
Specification with Bill of
Materials duly signed by
the Licensed Civil Engineer
or Architect
• For Properties Purchased from
a Developer/Corporation/
Association
 License to Sell
 Secretary’s Certificate on
the Authorized Signatory of
the
Developer/Corporation/Ass
ociation
 One (1) valid ID of the
Corporate Secretary and
Authorized Signatory of the
Developer/Corporation/
Association
ADDITIONAL REQUIREMENTS
(if applicable only)
• Prior to Loan Release • For PLCH only

• Surety bond Occupancy Permit

• Collection Servicing Building Plan/
Agreement with Authority to Electrical/Sanitary
Deduct Loan Amortization or Permits duly approved by
Post Dated Checks, if the building officials
applicable
• For Purchase of New
Residential Unit only
-Occupancy Permit
• 1.The Fund shall have a plan or schedule of its HFs every year.
• 2. Prior to HFs, the Fund shall evaluate all of its existing active and
accredited developers for short-listing based on the above eligibility
requirements. Thereafter, the short-list of developers shall be
endorsed to the Chief Executive Officer/Senior Management
Committee for approval.
• 3. The approved short-list of developers shall be given a letter of
invitation to participate in the upcoming Fund's HF.
• 4. The limited slots shall be made available to developers on a "first-
come, first-serve" basis; provided, confirmation and payment of
participation fee (non-refundable) has been made. The participation
fee as used in this Guidelines shall be the share of the developers
including, but not limited to, the expenses incurred by the Fund in
organizing the HF or sponsorship of the same in activities
coordinated locally or abroad.
The MAXIMUM loanable amount for PAG-IBIG
housing loan is

3 Million
Pesos
 Loan value evaluate based on
the following:
• Actual need
• Loan entitlement
• Capacity to pay
• Loan - to - collateral ratio
• Actual Need
– Loan amount write
in the application
form or the selling
price of the
property being
purchased.
• Loan entitlement
– Will be Based on
the Monthly
Contributions
• Capacity to pay
Monitor by the following documents:
Private and Government Employee
Notarized Certificate of Employment and Compensation or
CEC with PAG-IBIG format
Notarized Certificate of Employment and Compensation or
CEC using employer’s format with latest 1 month pay slip.
Income tax return o BIR Form 2316 with latest 1 month pay
slip.
Self-employed or Professionals
Income tax return or audited financial statement
Official receipt of tax payment from bank
DTI Registration or Mayor’s Permit
 Loan value evaluate based on
the following:
Overseas Filipino Worker (OFW)
Employment Contract with English translation
Other proofs of income validated or assigned by Pag-ibig
information officer
Loan - to - collateral ratio
• Loan - to - collateral ratio
– The collateral coverage ratio represents the percentage of
a loan secured by a discounted asset and is used by lenders to
set maximum loan limits.
 REPAYMENT PROCESS/
SCHEME
• Amortization is defined as the process of spreading out a loan (in this
case, a Pag IBIG housing loan) into a series of fixed payments over
time.
• Basically, it refers to the monthly payments that you’ll make for the next
coming months and years to pay off the Pag IBIG housing loan.
• THERE ARE DIFFERENT WAYS TO PAY YOUR MONTHLY
AMORTIZATION:
a. Payment through post-dated checks (PDCs).
• If you choose this, you need to issue and submit 12 post-dated checks
to the Pag IBIG Fund upon loan release. These checks will cover 1-
year monthly amortization.
• Get the Acknowledgment Receipt (AR).
• Return to the Pag IBIG upon consumption of the 10 PDCs (exclusive of
the remaining 2) to issue another 12 checks.
• Always claim and keep the receipts from Pag IBIG each time you issue
a check.
 WAYS TO PAY AMORTIZATION
b. Payment through salary c. Other modes of payment.
deduction. • Auto debit arrangement with
• If you opt for amortization banks.
payment via salary deduction (as • Accredited collection partners.
most Filipino employees do), you
• Payment to an accredited
need to submit Authority to
developer with a Collection
Deduct to the Billing
Servicing Agreement with the
Division/Accounts Management
Pag IBIG Fund.
and Billing Department/Loans
Management and Recovery • Other methods of payment that
Housing Business Pag IBIG Fund may implement
Center/Members Services in the future.
Branch.
• Upon loan takeout, an equivalent
of one-month amortization will be
deducted from the loan proceeds.
Three factors that determine the amount of your monthly
amortization

• Loan Amount - The amount specified in the mortgage contract that

the borrower agrees to pay back.
• Repayment Period – Period in paying back a loan.
• Fixed Pricing Peiod - the time frame during which the fixed interest
rate will apply.
• All Pag-IBIG Fund housing loan borrowers can now pay housing loan
amortizations to any of the fund's accredited collection partners.
• All payments should be made at the accredited Bayad Centers.
• The Funds local collection partners / Bayad Centers include MLhuillier
or LBC- of any branch, Metrobank, Landbank, SM Business Service
Centers and Globe G-Cash. For overseas payment, borrowers can
directly pay to Philippine National Bank, Asia United Bank, iRemit and
Ventaja International.
 EXAMPLE:
• NAME: ANGELIQUE TOWNHOUSE
• LOCATION: LUMINA PANDI, BRGY. PINAGKUARTELAN, PANDI,
BULACAN
• HOUSE FEATURES: PROVISON FOR 2 BEDROOMS, 1 TOILET & BATH ,
PROVISION FOR CARPORT AND SERVICE AREA
• FLOOR AREA: 35 SQ. M LOT AREA: 36 SQ. M
• PRICE: Php777,000

SAMPLE COMPUTATION: (Pag-IBIG LOANABLE AMOUNT: Php 700,000

financing) Monthly amortization:
Downpayment: Php 77,000 if 15 yrs. to pay: Php 6,489 per month
Less: Reservation fee: Php 55,000 If 20 yrs. To pay: Php 5,639 per month
Balance of downpayment after If 25 yrs. To pay: Php 5,173 per month
reservation fee: If 30 yrs. To pay: Php 4,895 per month
Php 72,000 payable in 12 months at
Php 6,000 per month
 CALAMITY LOAN PROGRAM
• Eligibility
• Maximum Loan :
80% of Total
Accumulated
value
• Interest rate
• Payment Period
• Requirements
TERMS AND CONDITIONS
PROJECT DEVELOPMENT