“How to Qualify for PAG-IBIG Housing Loan”
To qualify for a PAG-IBIG housing loan, a member shall satisfy the
A. 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, as
evidenced by the remittance of at least 24 monthly contributions
at the time of loan application.
- 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 (both EE and ER share) 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.
Lump sum payment of membership contributions shall be considered
a single contribution for the applicable month as of the payment date.
- A member whose loan exceeds P500,000.00 shall be required to pay
the upgraded membership contribution rates upon housing loan
approval and onwards.
- 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.
For purposes of satisfying the required two (2) years membership
contributions, the member may opt to pay in lump sum any amount
short of the said requirement. In addition, the period corresponding
to the TAV applied earlier to an outstanding loan shall also be
considered when counting the total number of monthly contributions,
provided the remaining TAV after offsetting does not fall below the
equivalent amount of two (2) years membership contributions.
B. Not more than sixty-five (65) years old at the date of loan application
and must be insurable; provided further that he is not more than seventy
(70) years old at loan maturity;
C. Has the legal capacity to acquire and encumber real property;
D. Has passed satisfactory background/credit and employment/business
checks of the PAG-IBIG Fund;
E. Has no outstanding PAG-IBIG housing loan, either as a principal borrower
or co-borrower; However, should a co-borrower in a tacked loan signify an
intention to avail of a PAG-IBIG housing loan for himself, he shall be
allowed to do so provided the tacked loan is updated and the amount
proportionate to his loan entitlement has been fully paid. Hence, the
co-borrower shall be released from the original obligation and shall
be allowed to avail of his own PAG-IBIG housing loan, subject to standard
F. Had no PAG-IBIG housing loan that was foreclosed, cancelled, bought
back due to default, or subjected to dacion en pago, which shall include
cases where the borrower is no longer interested to pursue the loan and
surrenders the property;
G. Has no outstanding PAG-IBIG multi-purpose loan in arrears at the time
of loan application. A member whose multi-purpose loan is in arrears
shall be required to pay his arrearages over the counter to update
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