Pag-IBIG Fund and LRA partnership make housing loan processing faster

Press Release

Pag-IBIG Fund recently updated its stakeholders about its partnership with the Land Registration Authority (LRA). Since its launch in June 2013, the LRA kiosk inside the Pag-IBIG office in the National Capital Region (NCR) has released more than 4,400 certified true copies of Transfer Certificate Titles (TCTs) and Condominium Certificate Titles (CCTs). The kiosk is located at the 2nd floor of the Pag-IBIG Fund Housing Sector, 409 JELP Business Solutions Building, Shaw Boulevard, Mandaluyong City. 

Pag-IBIG offers lowest-ever 3% housing interest rate to minimum-wage earners

Press Release 

A lowest in the market housing loan interest rate is now offered to Pag-IBIG members who are minimum-wage earners. 

“We are happy to announce that the Pag-IBIG Fund Board of Trustees approved the lowering of interest rate under Pag-IBIG’s affordable housing for minimum-wage earners to just 3%. This would allow more opportunities for low-income workers to realize their dream of home ownership,” said Cabinet Secretary and Pag-IBIG Chairman Leoncio B. Evasco, Jr. 

Pag-IBIG Fund cuts processing time on housing loan

Press Release

Pag-IBIG Fund housing loan applicants can now get their loan approval in just 17 days from date of submission of complete requirements and the proceeds of the loan in just 3 days after post-approval compliance. 

Pag-IBIG Fund made this commitment after it enhanced its procedure for housing loan transactions, effectively cutting the processing time from 27 days to 20 days from application to release of proceeds, and reducing the number of requirements from 14 to 7 documents. 

FAQ’s in Pag-ibig Affordable Housing Program

1. What are the loan purposes?

The Pag-IBIG housing loan may be used to finance any one of the following:

•  Purchase of a fully developed residential lot or adjoining lots not exceeding 1,000 square meters;
• Purchase of a residential house and lot, townhouse, or condominium unit;
• Construction or completion of a residential unit on a lot owned by the member.

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.

Pag-Ibig Housing Loan (Basic and Required Documents)

BASIC REQUIREMENTS (UPON LOAN APPLICATION)

1. Housing Loan Application with recent ID photo of borrower/co-borrower (if applicable) (2 copies, HQP-HLF-068/069)

2. Proof of Income

Pag-ibig Housing Loan Eligibility Requirements

To qualify for a Pag-IBIG housing loan, a member shall satisfy the following requirements:

1. On Pag-IBIG Membership

Pag-ibig Housing Loan - Processing Fees

PROCESSING FEE

P1,000 - upon filing of housing loan application with required documents (non-refundable)
P2,000 – appraisal fee (upon filing of loan application, non-refundable)
P2,000 – upon take-out (deducted from the loan proceeds)