Pag-ibig Housing Loan Availment

HOUSING LOAN AVAILMENT

Two (2) modes of applying for a Pag-IBIG housing loan: 

(a) Developer-Assisted - the developer assists the member in his/her housing loan application and 

(b) Retail - the member applies directly to the Fund.

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:

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.

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

4. 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;

5. 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

6. 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;
• Refinancing of an existing mortgage, specifically a lot loan, with construction of a residential unit thereon.

Source: PAG-IBIG Fund