Pag-IBIG Housing Loan: How to Apply & the Requirements in Applying For It

Guide on Pag-IBIG Housing Loan Offer Application

PAG-IBIG HOUSING LOAN – Here is a comprehensive guide in applying for this loan offer of Pag-IBIG Fund for eligible members.

A lot of Pinoys are active members of Pag-IBIG Fund, a government agency that has helped many of its members acquire a residential property in an affordable way. It is through the loan offer of the government agency that is open for financing any of the following:

  • a residential property purchase
  • house construction
  • home renovation
  • home loan take-out

Under the Pag-IBIG Housing Loan offer, the member-borrower may repay the loan for up to 30 years. That is why members really have the option to fit the term that won’t be financially burdensome to them.

Pag-IBIG Housing Loan
Photo Credit: Daily Tribune

Do you want to check on the loanable amounts under the offer? Kindly visit – Pag-IBIG Housing Loan: Here’s How Much You May Borrow under it.

How to Apply for Pag-IBIG Housing Loan

Step 1 Check the qualifications. To be eligible to apply for the loan offer, the member-borrower must:

  • have posted at least 24 monthly savings
  • be 65 years old and below upon the loan application and not more than 70 years old upon the loan maturity
  • having no outstanding Pag-IBIG Short-Term Loan in arrears
  • have no loan foreclosed, cancelled, or bought back due to default

Step 2 Prepare the documents. Like in other loans even with other entities, the loan application for Pag-IBIG Housing Loan also requires some documentary requirements for submission. To check on the specific documents needed in applying for the loan offer, you may visit –
Requirements for Pag-IBIG Housing Loan – Here’s What You Will Need to Apply
.

Step 3 Visit a branch of Pag-IBIG Fund. Go to an office of the government agency nearest to you and submit your documents. The loan processing will take a few weeks. Wait for an update from the Fund.

READ ALSO: Pag-IBIG Calamity Loan: Here’s How Much You May Borrow under the Offer

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