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How do i Know if I’m qualified to avail Pag-IBIG housing loan

loan approved property in the philippines

Eligibility Requirements

The question is how do i Know if I’m qualified to avail Pag-IBIG housing loan. This is the basic requirements to qualify for a Pag-IBIG housing loan, a member shall satisfy the following requirements:

1) On Pag-IBIG Membership

a) Must be a member under the Pag-IBIG I, Pag-IBIG II or Pag-IBIG
Overseas Program (POP) for at least twenty-four (24) months, as
evidenced by the remittance of at least 24 monthly contributions
at the time of loan application.

b) A member with less than the required number of contributions
applying for a Pag-IBIG housing loan shall be allowed to make
lump sum payment based on the mandatory monthly membership
contribution rates (both EE and ER share) to meet the said
requirement at point of loan application provided he has been a
contributing member of the Fund for at least twelve (12) months.
Lump sum payment of membership contributions shall be considered
a single contribution for the applicable month as of the payment

c) A member whose loan exceeds P500,000.00 shall be required to
pay the upgraded membership contribution rates upon housing
loan approval and onwards.

d) A member who has contributed for at least two (2) years and
whose loans exceed P500,000.00 shall be required to pay the
upgraded contribution rates upon housing loan approval and

For purposes of satisfying the required two (2) years membership
contributions, the member may opt to pay in lump sum any amount
short of the said requirement. In addition, the period
corresponding to the TAV applied earlier to an outstanding loan
shall also be considered when counting the total number of
monthly contributions, provided the remaining TAV after
offsetting does not fall below the equivalent amount of two (2)
years membership contributions.

2) Not more than sixty-five (65) years old at the date of loan
application and must be insurable; provided further that he is not
more than seventy (70) years old at loan maturity;

3) Has the legal capacity to acquire and encumber real property;

4) Has passed satisfactory background/credit and employment/business
checks of the Pag-IBIG Fund;

5) Has no outstanding Pag-IBIG housing loan, either as a principal
borrower or co-borrower;
However, should a co-borrower in a tacked loan signify an
intention to avail of a Pag-IBIG housing loan for himself, he
shall be allowed to do so provided the tacked loan is updated and
the amount proportionate to his loan entitlement has been fully
paid. Hence, the co-borrower shall be released from the original
obligation and shall be allowed to avail of his own Pag-IBIG
housing loan, subject to standard evaluation procedures.

6) Had no Pag-IBIG housing loan that was foreclosed, cancelled,
bought back due to default, or subjected to dacion en pago, which
shall include cases where the borrower is no longer interested to
pursue the loan and surrenders the property;

7) Has no outstanding Pag-IBIG multi-purpose loan in arrears at the
time of loan application. A member whose multi-purpose loan is in
arrears shall be required to pay his arrearages over the counter
to update his account.

About Benjamin Polido Jr

Benjamin Polido Jr. is a Licensed Engineer and Licensed Real Estate Broker (PRC Real Estate Broker License no. 20655) graduate of Technological University of the Philippines where he holds a degree in Electrical Engineering. He also a recommended consultant of E-commerce102 and now practitioner of Internet Online Marketing and Real Estate Investment.

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