How to Get a Pag-IBIG Housing Loan: A Step-by-Step Guide
Mar 13, 2023   •   8List Editor
8List.ph is published by ID8, Inc.
Mar 13, 2023   •   8List Editor
Getting your own home is a huge adulting milestone. Because it’s such a big step, it might seem daunting, but with preparation and know-how, you can make it happen. Enter: the Pag-IBIG Housing Loan.
Pag-IBIG stands for “Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno.” It’s a government program dedicated to helping Filipinos purchase homes of their own. With a Pag-IBIG loan, you can purchase a home, lot, or residential condominium unit — either pre-owned or newly constructed. You also have the option to build your dream house, renovate/repair an existing one and even buy a vacant lot.
The maximum loanable amount can depend on a few factors like your income, capacity to pay, and the loan’s purpose. Generally, though, Pag-IBIG housing loans can go up to four million pesos. That’s a good amount of money that could help you buy your dream home!
There are four kinds of Pag-IBIG loans: the Multi-Purpose Loan, the Housing Loan, the Calamity Loan, and the Short-Term Loan. Each one is tailored to meet different needs.
Before you even apply for a Pag-IBIG Housing Loan, make sure you meet the following requirements:
Once you’ve determined that you meet all the requirements, it’s now time to apply for your dream home!
The Pag-IBIG Housing Loan application process may seem complicated, but when you break it down into individual steps, it’s actually quite simple. Here’s a step-by-step guide to getting your own home:
You will need the following documents:
FROM SELLER (and/or BORROWER)
You may submit your form and initial requirements online via Virtual Pag-IBIG. To do so, click here.
Then, submit your form and the requirements by going to your nearest Pag-IBIG Housing Business Center or Pag-IBIG Fund branch. To find out where the closest one is, click here.
If your application is complete and in order, you will receive your Notice of Approval and Letter of Guaranty after 17 days. You will be advised where you can claim your NOA and LOG.
Complete the requirements stated in your NOA within 90 days. This includes the transfer of title and annotation of mortgage, among others.
Once you submit your post-approval requirements, you will receive the proceeds of your loan within ten (10) working days. You will be notified about how your loan proceeds will be released safely and conveniently.
Start paying your Pag-IBIG loan exactly one (1) month after its release date. Remember to use your permanent housing loan acct number 12Digit HLAN when paying. For your convenience, you may pay your Pag-IBIG housing loan online via Virtual Pag-IBIG or via our accredited collecting partners’ outlets or their online payment facilities.
Pag-IBIG Fund offers various payment options for your Pag-IBIG housing loan:
You can view and track your loan account status in several ways:
You may also track your loan account status in Pag-IBIG Fund branches or through our accredited collecting partners.
Now that you have your Pag-IBIG housing loan, you can finally enjoy living in the home of your dreams! Remember to pay all fees due on time and keep track of your account status to ensure a smooth repayment of your loan and to avoid accumulating penalties and interest.
Congratulations in advance on your new home!
Input your search keywords and press Enter.