In an effort to cut red tape, the Pag IBIG fund now promises faster transaction to those applying for a housing loan.
Through its more efficient application system, Pag IBIG housing loans can now be approved within 17 days from the date when the borrower completes/submits all requirements.
The loan proceeds, on the other hand, can be claimed three days after post-approval compliance.
Here’s an overview of how Pag IBIG housing loan applications are processed:
- 2 working days: From receipt of documents required upon loan application
up to the endorsement of documents for credit investigation and property appraisal.
- 6 working days: From receipt of endorsed documents up to the generation of the result of credit investigation and property appraisal.
- 8 working days: From receipt of the result of credit investigation and property appraisal up to approval of HL application.
- 1 working day: From receipt of approval of HL application up to release of Notice of Approval (NOA).
- 3 working days: From preparation of Request for Payment (RFP) up to Check Availability.
Go to the main article: How to Apply for Pag-IBIG Housing Loan: An Ultimate Guide