Pag-IBIG Housing Loan FAQ's

What is the Pag-IBIG Housing Loan?

The Pag-IBIG Fund Housing Loan allows you to borrow up to P6 million under very low rates and at the friendliest terms, to help you fulfill your dream of owning a home!

What can I do with a Pag-IBIG Housing Loan?

You may use the Pag-IBIG Housing Loan to finance any one or a combination of the following:

• Purchase of a fully developed residential lot or adjoining residential lots not exceeding 1,000 square meters;
• Purchase of a residential house and lot, townhouse or condominium unit;
• Pre-owned or brand-new units,
• A property mortgaged with Pag-IBIG Fund; or
• Adjoining house and lots / townhouses / row houses / condominium units.
• Construction or completion of a residential unit on a residential lot owned by the borrower or a relative of the borrower;
• Home improvement; and
• Refinancing of an existing housing loan, provided, that the borrower must be regularly paying the amortizations of the said loan without any payment made beyond thirty (30) days past due for the last six (6) months from the date of application.

How do I qualify for a Pag-IBIG Housing Loan?

You must have the following to qualify for the loan:

• At least twenty-four (24) monthly membership savings (a lump sum payment of the required monthly membership savings is allowed);
• Age of not more than sixty-five (65) years at the date of application and not more than seventy (70) years at maturity of the loan;
• Legal capacity to encumber real property;
• Ability to pass satisfactory background / credit and employment / business checks of Pag-IBIG Fund;
• No outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of the loan application;
• No Pag-IBIG Housing Loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago.
• If with an existing Pag-IBIG Housing Loan as a principal buyer / borrower or co-buyer / co-borrower, the account must be updated.

How much can I borrow with a Pag-IBIG Housing Loan?

You can borrow up to as much as P6 million. The amount you may borrow, however, shall be based on the lowest of the following:

• Your actual need;
• Your desired loan amount;
• Your loanable amount based on your capacity to pay; and,
• Loan-to-Appraised Value ratio

How do I apply for a Pag-IBIG Housing Loan?

You can easily apply for a Pag-IBIG Housing Loan by submitting your duly accomplished form and its requirements at any Pag-IBIG Fund branch, or through the accredited partner-developer from whom you shall purchase your property.

You may also take the first step in applying for a loan by visiting Virtual Pag-IBIG (www.pagibigfundservices.com/virtualpagibig), clicking the Apply for or Manage Loans tab and choosing Apply for a Housing Loan.

What are the interest rates of the Pag-IBIG Housing Loan?

The interest rates of our Pag-IBIG Housing Loan remain at its lowest levels. We keep our rates low to help you secure a home under the most affordable terms.

The interest rate on your loan is based on the repricing period that you choose. Here are our rates effective 01 January 2022

Rates per Repricing Period, effective 01 JAN 2022.

01-Yr Fixing = 5.750%

03-Yr Fixing = 6.375%

05-Yr Fixing = 6.625%

10-Yr Fixing = 7.375%

15-Yr Fixing = 8.000%

20-Yr Fixing = 8.625%

25-Yr Fixing = 9.375%

30-Yr Fixing = 10.000%

How will I pay for my Pag-IBIG Housing Loan?

You may pay your Pag-IBIG Housing Loan in a number of convenient ways, which include:

• A collection servicing arrangement with your employer (if employed), who will then remit your monthly payments to Pag-IBIG Fund;
• Issuance of post-dated checks;
• Auto-Debit Arrangement (ADA) with a Pag-IBIG Fund partner-bank;

You may also pay your monthly amortizations via Virtual Pag-IBIG, at any Pag-IBIG Fund branch near you, or through any of our accredited collecting partners’ outlets or their online payment channels.

What is the loan repayment term?

The maximum payment period for the loan is thirty (30) years, but should not exceed the difference between age seventy (70) and the present age of the principal borrower.

Does the Pag-IBIG Housing Loan carry insurance?

Yes. Your Pag-IBIG Housing Loan shall be covered by a Mortgage Redemption Insurance (MRI) or a Sales Redemption Insurance (SRI), whichever is applicable, as well as a Fire and Allied Perils Insurance (FAPI).

Where can I read more about the Pag-IBIG Housing Loan?

To know more about the Pag-IBIG Housing Loan, you may download Pag-IBIG Fund Circular No. 396, Modified Guidelines on the Pag-IBIG Fund End-User Home Financing Program by clicking here.

SOURCE: Pag-IBIG

Homes for Low-Wage Earners

Pag-IBIG Fund finances 5,411 homes for low-wage earners in Jan-Apr 2022

Pag-IBIG Fund has financed 5,411 socialized homes for minimum-wage and low-income members in the first four months of 2022, its top executives said Wednesday (May 18).

Socialized home loans make up 18% of the 29,310 units financed by the agency from January to April 2022. In terms of amount, socialized home loans represent 7%, or P2.35 billion out of the record-high P31.97 billion home loans released by the agency for the period.

"Socialized housing is designed especially for minimum and low-wage workers. With Pag-IBIG Fund’s Affordable Housing Program, we make sure that all our members, particularly those from the low-income sector, are given the opportunity to own a home. This is the essence of the BALAI (Building Adequate, Livable, Affordable and Inclusive) Filipino Communities Program of the government’s housing sector towards providing decent shelter for every Filipino family,” said Secretary Eduardo D. del Rosario, Chairperson of the 11-member Pag-IBIG Fund Board of Trustees and Secretary of the Department of Human Settlements and Urban Development (DHSUD).

The Pag-IBIG Fund’s Affordable Housing Program (AHP) is for members from the low-income and minimum-wage sectors who earn up to P15,000 a month in the National Capital Region (NCR), and up to P12,000 per month outside the NCR. Under the AHP, borrowers enjoy a subsidized rate of 3% per annum for home loans of up to P580,000 for socialized subdivision projects, and up to P750,000 socialized condominium projects.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the AHP’s 3% rate remains as the lowest in the market – a rate that the agency has provided for low-income members since May 2017, and is able to offer due to its tax-exempt status as prescribed under Republic Act No. 9679 or the Home Development Mutual Fund (Pag-IBIG Fund) Law of 2009.

“Because of our Charter, Pag-IBIG Fund is able to provide the lowest rates for the home loans of minimum and low-wage workers. We first offered our subsidized 3% rate in May 2017 to help more members realize their dreams of owning a home. And, until now, that special rate still stands. Aside from keeping our interest rates low, we also keep the insurance premiums at a minimum, so that our borrowers would only need to pay a low monthly amortization of P2,445.30 for a socialized home loan of up to P580,000. And what’s more, qualified borrowers will never have to put out cash for equity under our Affordable Housing Program. All of these are part of our efforts to provide the best home financing program for our members who earn minimum wage,” Moti said. 

Source: Pag-IBIG

Pag-IBIG Loyalty Card Plus

The Pag-IBIG Loyalty Card Plus allows you to enjoy exclusive discounts and rewards on your grocery purchases, tuition fee, hospital bills, fuel expenses, restaurant bills and many more from our more than 300 partner-establishments nationwide.

And now, you can also use it as a cash card where you may conveniently receive your Pag-IBIG Multi-Purpose Loan (MPL) proceeds, MP2 Savings dividends, and other benefits.

HOW TO APPLY

1. Employer-Arranged Enrolment
2. Branch Enrolment

Click Here for More Information!

P24.2B in Q1 2022

Pag-IBIG home loan releases reach record-high P24.2B in Q1 2022, up 16%

 

Pag-IBIG Fund released a record-high P24.20 billion in home loans during the first quarter of 2022, anp increase of P3.26B or 16% compared to the P20.94 billion released during the same period in 2021, its top officials announced on Thursday (April 21).

 

“We are happy to report that we have again posted a record-high in home loan releases in the first three months of 2022. Continue reading [...]

P1, MP2 at Virtual Account

Sa mga kababayan natin na wala pa P1, MP2 or Virtual Account, meron po ako blog post as simple guides.

Nandito naman po ang way para makagawa or makapag register sa Pag-IBIG at magkaroon ng Pag-IBIG MID NUMBER or P1.

https://pagibigfunds.blogspot.com/p/pag-ibig-mid-no.html

Narito ang guide mo po para makapag CREATE po ng iyong Pag-IBIG Virtual Account, click mo lang po ang link na'to dito:

https://pagibigfunds.blogspot.com/p/create-account.html

Nandito naman po ang link sa ibaba po para makapag ENROLL po kayo sa PAG-IBIG MP2 mo po:

https://pagibigfunds.blogspot.com/p/mp2-enrollment.html

Pa-IBIG Contact

Pag-IBIG Contact Info:

• Phone No.: 8724-4244
• Email: contactus@pagibigfund.gov.ph
• Facebook: fb.me/PagIBIGFundOfficialPage

Pag-IBIG Home Loan P24.2B in Q1 2022

Pag-IBIG home loan releases reach record-high P24.2B in Q1 2022, up 16%

 

Pag-IBIG Fund released a record-high P24.20 billion in home loans during the first quarter of 2022, anp increase of P3.26B or 16% compared to the P20.94 billion released during the same period in 2021, its top officials announced on Thursday (April 21).

 

“We are happy to report that we have again posted a record-high in home loan releases in the first three months of 2022. Our strong start this year means that more Filipino workers have been helped by Pag-IBIG Fund in acquiring their own homes. The sustained growth in our home loan disbursements also contributes to the economy, as we continue to help our members and the country recover from the pandemic,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

 

Del Rosario added that the amount of home loans released by the agency during the first quarter enabled 22,210 members to acquire their own homes, a 7% increase from the 20,712 members helped during the same period in 2021. He further added that out of the total amount, P1.78 billion were released as socialized home loans benefiting 4,114 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors. 

 

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti noted that the agency’s performance at the start of the year is a continuance of its record-high achievement in 2021 when the agency surpassed P100 billion in home loan releases.

 

“After coming off a record-setting 2021 with P100.8 billion in home loans released, we have yet again set another record-high in housing loan takeouts for the first quarter of 2022. Our performance in the housing loan front is an indication of the trust of our members in our programs. More importantly, our record-high numbers show the increasing number of Filipino workers we have enabled to have homes of their own. We aim to keep our loan interest rates low and help more Filipinos become homeowners. That is the Lingkod Pag-IBIG way,” said Moti.