To qualify for a Pag-IBIG housing loan, a member shall satisfy the following requirements:
2.1 - On Pag-IBIG Membership
2.1.1 - 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.
2.1.2 - A member, whether new or with existing monthly contributions that are still short of the 24-month membership requirement, shall be allowed to make lump sum payment based on the basic monthly membership contribution rates to meet said requirement at point of loan application. Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the payment date.
Said member shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.
2.1.3 - A member who has contributed for at least two (2) years shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.
2.1.4 For purposes of satisfying the residency requirement, the period corresponding to the Total Accumulated Value (TAV) applied earlier to a member's outstanding loan (offsetting) shall be considered when counting the total number of monthly contributions, provided that the remaining TAV after offsetting does not fall below the equivalent amount of 24 monthly contributions.
2.2 - Not more than 65 years old at the date of loan application and must be insurable; provided further that he/she is not more than 70 years old at the date of loan maturity;
2.3 - Has the legal capacity to acquire and encumber real property;
2.4 Has passed satisfactory background/credit and employment/ business checks of the developer and Pag-IBIG Fund;
2.5 - Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;
2.6 - Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back, or subjected to dacion en pago;
2.7 - 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.
ATTY. ROMERO F. S. QUIMBO
President and Chief Executive Officer
2.1 - On Pag-IBIG Membership
2.1.1 - 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.
2.1.2 - A member, whether new or with existing monthly contributions that are still short of the 24-month membership requirement, shall be allowed to make lump sum payment based on the basic monthly membership contribution rates to meet said requirement at point of loan application. Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the payment date.
Said member shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.
2.1.3 - A member who has contributed for at least two (2) years shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.
2.1.4 For purposes of satisfying the residency requirement, the period corresponding to the Total Accumulated Value (TAV) applied earlier to a member's outstanding loan (offsetting) shall be considered when counting the total number of monthly contributions, provided that the remaining TAV after offsetting does not fall below the equivalent amount of 24 monthly contributions.
2.2 - Not more than 65 years old at the date of loan application and must be insurable; provided further that he/she is not more than 70 years old at the date of loan maturity;
2.3 - Has the legal capacity to acquire and encumber real property;
2.4 Has passed satisfactory background/credit and employment/ business checks of the developer and Pag-IBIG Fund;
2.5 - Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;
2.6 - Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back, or subjected to dacion en pago;
2.7 - 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.
ATTY. ROMERO F. S. QUIMBO
President and Chief Executive Officer
