Pag-IBIG Fund makes it possible for minimum-wage and low-income earners to own a home. They offer housing loan options to their members and it includes Pag-IBIG Fund’s Affordable Housing Program. This program is perfect for all members who are minimum-wage earners whose monthly gross income does not exceed P17,500.
If you’re a minimum-wage earner member and you wanted to know how to apply for this program. This might help you.
Purposes of the Loan:
- Purchase of lot
- Construction
- Improvement
- Refinancing an existing housing loan
Who are Eligible to Apply?
- Not more than 65 years old
- Member who have at least 24 months savings
- Has legal capacity to acquire and encumber property
- No foreclosed loan
- Payment must be updated (if with existing short term loan)
What are the Requirements Needed?
- For Self-employed
- Valid IDs
- Loan Application
- Income tax return
- Proof of income
- Bank Statement
- Copy of Lease Contract and Tax Declaration
- Commission Vouchers reflecting the issuer’s details
- Certified True Copy of Transport Franchise
- Certificate of Engagement
- For Employed
- Valid IDs
- Loan Application
- Proof of income
- Notarized Certificate of Employment and Compensation
- Income tax return
- Payslip
- For OFWs
- Valid IDs
- Employment contract
- Certificate of Employment and Compensation (CEC)
- Income tax return
How to Apply?
- Prepare all the requirements needed
- Visit the nearest Pag-IBIG branch in your location
- Submit all the requirements
- Afterward, you need to wait for at least 17 working days before you receive the Notice of Approval and the Letter of Guaranty
- Once received, you need to accomplish the Notice of Approval requirements within 3 months including the transfer of title and annotation of mortgage
- Go back to Pag-IBIG and receive loan proceeds
- Lastly, start paying the monthly housing loan amortization
What are the modes of payment?
- Post-dated checks
- Salary deduction through employer
- Payment to an accredited developer
- Auto debit arrangements
- Collection partners
- Overseas remittance
- Local remittance
If you’re a Pag-IBIG member who is a minimum-wage earner, take advantage of the affordable housing program they offer. Be able to own your dream house now with the help of Pag-IBIG Fund’s program.
For more information, you may contact Pag-IBIG using this hotline: 8-724-4244
READ:
Pag-IBIG Fund Membership Main Benefits
Pag-IBIG Multi-Purpose Loan Application
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