I see lots of people trying to file housing Loan in Pagibig. I tried it once and it really is quite easy. But what if you are filing for retail house and lot? When we say "Retail" it means you are buying a house outside of real state company. Let's say someone you know is selling his/her house and you want to buy it through Pagibig. Yes, is possible. You will need lots of paper works but once everything are all set processing is easy.
First thing you need to do is to prepare the required documents. Then, they will schedule an inspection to the property you are buying. The price of the property determined in the inspection can affect your loan-able amount.
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» ELIGIBILITY REQUIREMENTS
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| » PROCESSING FEE |
- P1,000 - upon filing of housing loan application with required documents (non-refundable)
- P2,000 – appraisal fee (upon filing of loan application, non-refundable)
- P2,000 – upon take-out (deducted from the loan proceeds)
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| » BASIC REQUIREMENTS (UPON LOAN APPLICATION) |
- Housing Loan Application with recent ID photo of borrower/co-borrower (if applicable) (2 copies, HQP-HLF-068/069)
- Proof of Income (see details below)
- One (1) valid ID (Photocopy, back-to-back) of Principal Borrower and Spouse, Co-Borrower and Spouse, Seller and Spouse and Developer’s Authorized Representative and Attorney-In-Fact, if applicable
- Transfer Certificate of Title (TCT) (latest title, Certified True Copy). For Condominium Unit, present TCT of the land and Condominium Certificate of Title (CCT) (Certified True Copy).
- Updated Tax Declaration (House and Lot) and Updated Real Estate Tax Receipt (photocopy)
- Contract-to-Sell or similar agreement between the buyer and seller
- Vicinity Map/Sketch of the Property
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| » REQUIRED DOCUMENTS PRIOR TO LOAN RELEASE |
- TCT/CCT in the name of the borrower/co-borrower/s (if applicable) with proper mortgage annotation in favor of Pag-IBIG Fund (Owner’s Duplicate Copy)
- TCT/CCT in the name of the borrower/co-borrower/s (if applicable) (Certified True Copy) with proper mortgage annotation in favor of Pag-IBIG Fund (RD’s copy)
- Updated Tax Declaration (House and Lot) and Updated Real Estate Tax Receipt (Photocopy) in the name of the borrower/co-borrower/s, if applicable
- Loan Mortgage Documents
- Loan and Mortgage Agreement duly registered with Registry of Deeds with original RD stamp (HQP-HLF-162/163)
- Deed of Absolute Sale duly registered with Registry of Deeds with original RD stamp
- Duly accomplished/notarized Promissory Note (HQP-HLF-086/087)
- Disclosure Statement on Loan Transaction (HQP-HLF-085)
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| » OTHER APPLICABLE REQUIREMENTS |
| » INCOME DOCUMENT: |
* For Locally Employed, any of the following:- Notarized Certificate of Employment and Compensation (CEC), indicating the gross monthly income and monthly allowances or monthly monetary benefits received by the employee
- Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application, with attached BIR Form No. 2316, stamped received by the BIR
- Certified One (1) Month Payslip, within the last three (3) months prior to date of loan application
NOTE: For government employees, the Certified One (1) Month Payslip, within the last three (3) months prior to date of loan application, must be submitted together with CEC or ITR. * For Self Employed, any of the following Proof/s of Income:- ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit
- Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months)
- Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittances, pensions, etc.)
- Copy of Lease Contract and Tax Declaration (if income is derived from rental payments)
- Certified True Copy of Transport Franchise issued by appropriate government agency (LGU for tricycles, LTFRB for other PUVs)
- Certificate of Engagement issued by owner of business
- Other document that would validate source of income
* For Overseas Filipino Workers (OFW), any of the following:- Employment Contract
- Employment Contract between employee and employer; or
- POEA Standard Contract
- Certificate of Employment and Compensation (CEC)
- CEC written on the Employer/Company’s official letterhead; or
- CEC signed by employer (for household staff and similarly situated employees) supported by a photocopy of the employer’s ID or passport
- Income Tax Return filed with Host Country/Government
NOTE: If documents are in foreign language/s, English translation is required. |
| » ADDITIONAL REQUIREMENTS (if applicable only) |
* Upon Loan Application- For OFW members
- Special Power of Attorney (SPA) notarized prior to date of departure. For OFW member abroad, a SPA notarized by a Philippine Consular Officer, or SPA notarized by a local notary (of the country where the member is working) but duly authenticated by the Philippine Consulate.
- The Fund may also require any or a combination of the following documents:
- Payslip indicating income received and period covered
- Valid OWWA Membership Certificate
- Overseas Employment Certificate
- Passport with appropriate visa (Working Visa)
- Residence card/permit (permit to stay indicating work as the purpose)
- Bank remittance record
- Professional License issued by Host Country/Government
NOTE: If documents are in foreign language/s, English translation is required.
- Insurance Coverage
- Health Statement Form (Medical Questionnaire)
- For borrowers over 60 years old
- For borrowers up to 60 years old, if loans is over P2.0 M to P6.0 M
- Health Statement Form (Medical Questionnaire) and Copy of the result of medical examination conducted prior to assignment overseas as required by the employment agency
- For OFW borrowers over 60 years old
- For Purchase of Lot with Construction of House (PLCH)
- Building Plans, Specification with Bill of Materials duly signed by the Licensed Civil Engineer or Architect
- For Properties Purchased from a Developer/Corporation/ Association
- License to Sell (Applicable to Developer only)
- Secretary’s Certificate on the Authorized Signatory of the Developer/Corporation/Association
- One (1) valid ID of the Corporate Secretary and Authorized Signatory of the Developer/Corporation/ Association (Photocopy, back-to-back)
- Surety bond (for properties that are subject to the lien imposed by Section 4 Rule 74 of the Rules of Court)
- Collection Servicing Agreement with Authority to Deduct Loan Amortization or Post Dated Checks, if applicable
- For Purchase of New Residential Unit only
- For PLCH only
- Occupancy Permit
- Building Plans/Electrical/Sanitary Permits duly approved by the building officials
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