The majority of the home buyers are financed by PAG-IBIG. PAGTUTULUNGAN SA KINABUKASAN: IKAW, BANGKO, INDUSTRIYA AT GOBYERNO (short for PAG-IBIG) is a government-owned and controlled corporation in the Philippines that aims the Filipino to save funds for their future.
In this blog post, I will list down all requirements in applying for a Housing Loan in PAG-IBIG. Before processing their requirements, you should pass their qualifications.
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Qualifications:
- Borrowers must have at least 24 months
- Lump-Sum Payment will be allowed to cover the 24 monthly contributions
- Borrowers must have a capacity to acquire and encumber the real property based on the Gross Monthly Income
Take Note: This is valid at the time of this publishment. As the time goes by, there may be some changes. For more information, refer to this site.
Requirements:
I. Private/Locally Employed
- Income Documents
- Latest Certificate of Employment and Compensation (duly notarized) - required
- Latest 1-month payslip (duly certified by payroll officer) - optional if no compensation written in COE
- 2 valid ID's of Principal Borrower with three specimen signature
- 2 valid ID's of Spouse with three specimen signatures (if applicable)
- 3 pcs 1x1 ID picture of the Principal Borrower
- Birth Certificate/ Marriage Contract
- Verified TIN Certification of the Principal Borrower
- Baptismal Certificate
II. Government Employee
- Income Documents (at least two of the three)
- Latest Certificate of Employment and Compensation (duly notarized)
- Latest 1-month payslip (duly certified by payroll officer) - required
- Income Tax Return or BIR Form 2316 with stamped by BIR
- 2 valid ID's of Principal Borrower with three specimen signature
- 2 valid ID's of Spouse with 3 specimen signatures (if applicable)
- 3 pcs. 1x1 ID picture of the Principal Borrower
- Birth Certificate/ Marriage Contract
- Verified TIN Certification of the Principal Borrower
- Baptismal Certificate
III. For Overseas Filipino Worker
- Income Documents (Any of the Following)
- Employment Contract
- Employment Contract between employer and employee (with English Translation)
- POEA Standard Contract
- Certificate of Employment Written on the Employer/ Company's Letterhead.
- For OFW, SPA was notarized by the Local Notary before the date of Departure. For OFW abroad, a SPA should be tied with a Red Ribbon by Consul Officer.
- 2 Valid IDs of Principal Borrower with three specimen signature
- 2 Valid IDs of Spouse with three specimen signatures (if applicable)
- 2 Valid IDs of Attorney-in-Fact
- 3 pcs 1x1 ID picture of the Principal Borrower
- Birth Certificate/ Marriage Certificate
- Verified TIN Certification of the Principal Borrower
- Baptismal Certificate
IV. For Self-Employed/ Other Source of Income
- Income Documents (Any of the Following)
- i. ITR, Audited Financial Statements, and Official Receipt of Tax Payment from Bank Supported by DTI Registration and Business Permit
- ii. Commission Voucher reflecting the issuer's name and contact details (for the 12 months)
- iii. Bank Statement or Passbook for the 12 months (in case of income is sourced from foreign remittances, pensions, and etc)
- 2 Valid IDs of Principal Borrower with three specimen signature
- 2 Valid IDs of Spouse with three specimen signatures (if applicable)
- 3 pcs 1x1 ID picture of the Principal Borrower
- Birth Certificate/ Marriage Certificate
- Verified TIN Certification of the Principal Borrower
- Baptismal Certificate
If you have any question , go to the Frequently Asked Questions in the Pag-Ibig site.
For more listing of properties, just fill out the contact form or send them to our Facebook page (House of Us). Don't forget to like or follow us.
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