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How to Apply or Avail the Housing Loan in Pag-ibig Fund in the Philippines

How to Apply or Avail the Housing Loan in Pag-ibig Fund in the Philippines

Housing Loan Availment

This housing loan program grants opportunities to Pag-IBIG Fund members to avail of housing loans to finance any one or a combination of the following:

(Picture) Home Development Mutual Fund Logo
Pag-ibig Housing Loan Program

  1. Purchase of a fully developed lot not exceeding 1,000 square meters, which should be within a residential area;

  2. Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot, which may be:

* Old or brand new;
* A property mortgaged with the Fund; or
* An acquired asset, which is disposed of through sealed public bidding, negotiated sale, the Rent-to-Own Program, or the "Magaang Pabahay, Disenteng Buhay” Program.

  1. Construction or completion of a residential unit on a lot owned by the member;

  2. Home improvement, i.e. any alteration in an existing residential unit intended by a homeowner to be a permanent integral part thereof, which will enhance its durability and material value;

  3. Refinancing of an existing mortgage with an institution acceptable to the Fund, provided that:

* The loan is not in default within 12 months prior to the date of application;
* The said loan has a repayment history of at least two (2) years with the original mortgagee

  1. Combination of loan purposes, which shall be limited to the following:
* Purchase of a fully developed lot not exceeding 1,000 square meters and construction of a residential unit thereon;
* Purchase of a residential unit, whether old or new, with home improvement;
* Refinancing of an existing mortgage with home improvement;
* Re* Refinancing of an existing mortgage, specifically a lot loan, with construction of a residential unit thereon. 

There are three (3) modes of applying for a Pag-IBIG housing loan:
 
  1. Window 1 - the developer assists the member in his/her housing loan application and offers a buyback guaranty in case the borrower defaults in the payment of amortization and/or monthly contributions;

  2. Window 2 - the developer still assists the member in his/her housing loan application but does not offer any buyback guaranty; and

  3. Window 3 - the member applies directly to the Fund on his own












Note: The author of this article is not connected with the Pag-ibig Mutual Fund in the Philippines.
 

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"How to Apply or Avail the Housing Loan in Pag-ibig Fund in the Philippines" was written by under the Philippine Government category. It has been read 12309 times and generated 3 comments. The article was created on and updated on 01 September 2010.
Total comments : 3
gillian grace abrenica ebe   (08 April 2017 8:06 AM) [Entry]

goodmorning i just want to know if may available pa po kayong mga foreclosed na bahay around batangas city? maraming salamat po

Lani P. Legaspi   (14 November 2012 11:47 AM) [Entry]

Where to find via email re window 3:the member applies directly to the Fund on his own? What are the requirements needed and how to apply?

Dioscoro Catipay Catubig   (05 June 2012 9:31 PM) [Entry]

Sir,
I want to improve my home through PAG-IBIG. with any developer to assist me is it posible? i am a member of pag-ibig fund for almost 10 years.
I HOPE YOU CAN TELL THE DETAILS. THANK YOU