PagIBIG Affordable Housing Program: What We Need to Know

Pagibig Housing

Owning a home in the Philippines has been made easier and more affordable by the Home Development Mutual Fund or PagIBIG.  When you start early, you should be able to pay your PagIBIG-loaned house in full before you hit your 50s or 60s.  The monthly amortizations are also budget-friendly and are almost at par with the current rates of renting an apartment.

If you have been working for at least 5 years now, you may already be eligible to acquire an Affordable Housing Loan program from PagIBIG.  To help you get started, here are the basic information you need to know about this program:

  1. What can be purchased with the Affordable Housing Loan Program? 
    • Fully developed residential lot or adjoining lots not exceeding 1,000 square meters;
    • Residential house and lot, townhouse, or condominium unit;
    • Construction or completion of a residential unit on a lot owned by the member.
  2. Who can avail of the Affordable Housing Program?
    • Any Pag-IBIG member who meets the following requirements:
      • Must have remitted 24 monthly contributions under Pag-IBIG 1 Membership Program.  If you are a new member, you have the option to pay the 24 monthly membership contributions in lump sum, corresponding to the loan amount applied for.
      • Gross monthly income must not exceed Php 17,500.00 (NCR-based) and Php 14,000 (for workers based in other regions).
      • Not more than 65 years old.
      • Does not have an outstanding Pag-IBIG housing loan.
      • Does not have outstanding multi-purpose loan in arrears.
      • Does not have a previous Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default or subjected to Dacion en Pago.
  3. How much can a member borrow?
    • Qualified members may borrow up to a maximum amount of Php 750,000.00.  This shall be based on the following:
      • Member’s actual need;
      • Member’s loan entitlement based on gross monthly income, capacity to pay, and loan-to-appraisal value ratio, whichever is the lowest;
      • A maximum of three (3) qualified Pag-IBIG members may be tacked into a single loan provided they are related within the second civil degree of consanguinity or affinity.
  4. What is the loan to appraisal value ratio? (table)
    • Loan Amount Loan – to – Appraisal Value Ratio
      Up to P450,000 100%
      Over P450,000 to P750,000 90%
  5. What are the interest rates? (table)

    • For the first 10 years of the loan, the following table shall be followed on interest rates.
    • After first 10 years of the loan, the interest rate shall be re-priced based on the prevailing interest rates in the Fund’s pricing framework or it shall be increased by 2%, whichever is lower.
      GROSS MONTHLY INCOME  LOAN AMOUNT INTEREST RATE
      P15,000 (NCR) P450,000 4.50%
      P12,000 (Other Regions) P450,000 4.50%
      P17,500 (NCR) P750,000 6.50%
      P14,000 (Other Regions) P750,000 6.50%
  6. How long is the repayment term?  The Affordable Housing Loan program’s repayment term is thirty (30) years.
  7. Are there any charges to be collected?  Processing fee: P3,000 where the P1,000 is paid upon filing of the loan application and the remaining P2,000 will be paid upon loan takeout.
  8. What are the documentary requirements?  You may visit the Pag-IBIG fund’s website at www.pagibigfund.gov.ph and click on Benefits and Programs.  Look for “Housing Loan Program” and then click on “Requirements” under Housing Loan Availment.
  9. Where to file Housing Loan Application?  You may file the loan online under the E-Services link in the Pag-IBIG website.  Otherwise, you may visit the Pag-IBIG NCR or any regional branch that has territorial jurisdiction over the property you intend to purchase.
  10. What is the processing time for the application?  The housing loan application’s regular processing time is 15 working days.  The borrower has to make sure that all required documents are duly submitted to avoid any delays in processing.

Source: http://www.pagibigfund.gov.ph/faqpdf/Affordable%20Housing%20FAQs%207-28-2014.pdf

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23 thoughts on “PagIBIG Affordable Housing Program: What We Need to Know

  1. This is very informative details. I am just confused some computation along. I just like the charges to be collected. Not too much expensive. It’s an average charges at all. I hope there are still more applicants to apply in house loan. Tiis lang kayo sa haba ng pila. Normal lang kasi yan.

  2. Ofw ako before tapos nagkuha ako akala ko wala ako pag ibig nakita ofw ako dun possible kaya na may hulog ako since na nag ofw ako.

  3. may existing loan po ako sa HDMF, until now hindi pa sya nahulugan kahit 1 time.pwede po ba ako magloan ulit?thanks

  4. Naka-bank financing housing loan po kami ngayon. Pued pa po bang maka-transfer kami PAG-IBIG Housing Loan? Bali 1 yr. na po kami ngbabayad sa bank. Gusto ko lng po sana malaman if pued pa sya malipat.

  5. seaman po ako and gusto ko po sna mag avail ng loan para po sa pag papagawa ng bahay ko pero may lupa nako…ano ano po ang requirements at magkano po pwede ko i loan member po ako ng pag-ibig since year 1998papo…

  6. May MP LOAN pa po ako.. Pero gusto ko bayaran na po yun ng buo para po maaproved po yung housing loan ko Pwede po ba yun?

  7. ibig sabihin pwuede kana maka avail ng housing loan at least 2 years above kana naghuhulog sa pag-ibig? ilang days naman bago ma approve. salamat

  8. paano po pag may loan po sa pag-ibig tapos hindi po nabayaran kasi nawalan ng work in 2 years.tapos ngayon may work n ulit pwede bang mag housing loan or kailangan pang maghulog ulit ng 24 months?

    1. Hindi kasi nag tuloy tuloy yung hulog mo so baka hinid ma approve ang Housing Loan Application mo. Punta ka na lang sa malapit Pag Ibig sa iyo para ma inquire ito.

  9. Been a PagIBIG member since 2012 po. Currently unemployed kc pregnant and kakabukas ko lang din na sarili kong business. Pwd pa rin po ba akong mka avail ng housing loan at co-maker po yung husband ko na foreigner? He’s working and receiving monthly salary dito sa phililpines.

      1. hello po mam eversince nag abroad po ang asawa as seaman wla pa po kaming napakinabangan sa pag-ibig po possible po bang i withdraw ma’am sir posibly po bang ma refund yung mag contirbutions po?please reply and incase po anong processo po ang gagawin namin?

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