How to Apply for Pag IBIG Housing Loan: A Definitive Guide for OFWs

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Overseas Filipino Workers (OFWs) who want to invest in properties for their families back home can also avail of the Pag IBIG housing loan.

The application can be done either online through the Pag IBIG website or at any Pag IBIG Desk Office located at selected Philippine Embassies abroad.

The process is almost the same as when you’re applying in the Philippines albeit with few variations:

Step 1: Know your purpose of availing a Pag IBIG housing loan.

Pag IBIG has specified the kind of real estate investments or projects that are qualified for the housing loan. Make sure you know them before applying.

Step 2: Use the Pag IBIG housing loan calculator to estimate how much you can borrow based on your income, the value of the property, etc. The maximum loanable amount is Php 6 million.

Step 3: Pass the eligibility requirements for the Pag IBIG housing loan. According to the Pag IBIG Fund, you can avail of the loan if you are:

  • A Pag IBIG Fund member with 24 months worth of contributions at the time of application. If you’re a new member or someone who has contributed for less than 2 years, you can also complete the required contributions by making a lump sum payment. To reach more OFWs, Pag IBIG has partnered with POEA and DOLE to ensure all OFWs leaving/returning to the Philippines become members or have updated memberships.
  • Not more than 65 years old at the time of loan application and not more than 70 years old at loan maturity.
  • With a legal capacity to acquire property.
  • Has passed the background checks (credit/employment/business, etc.) conducted by the Pag IBIG Fund.
  • Has no outstanding Pag IBIG multi-purpose or calamity loan either as principal borrower or co-borrower.
  • No previous Pag IBIG housing loan that ended up with the borrower’s property being foreclosed, brought back to default, canceled, or surrendered (dación en pago).
  • If with existing Pag IBIG housing loan, either as principal borrower or co-borrower, it must be updated.

Step 4: Gather and complete all documentary requirements.

  •  Processing fee (non-refundable) of Php 1,000 and appraisal fee of Php 2,000.
  • Membership Status Verification Slip (proving your contributions for at least 2 years/24 months or the payment of the same amount of contributions in a lump sum, if you’re a new member who wants to avail of the housing loan).
  • Duly accomplished Housing Loan Application Form with recent ID photo of the principal borrower or co-borrower (if applicable).
  • Duly signed Authorization to Conduct Credit Background Investigation.
  • Proof of income (any of the following): Employment Contract, Certificate of Employment and Compensation (CEC), or Income Tax Return filed with the OFW’s host country or government.
  •  Photocopy (front and back) of one valid ID of the principal borrower and spouse, co-borrower and spouse, seller and spouse, owner of the title (for accommodation mortgage), and developer’s authorized representative/Attorney-in-Fact, if applicable. Click here for a complete list of valid IDs accepted by Pag IBIG. 
  • Latest Certified True Copy of the Transfer Certificate of Title (TCT). If you’re applying for a loan to purchase a condominium unit, present TCT of the land and a Certified True Copy of the Condominium Certificate of Title (CCT).
  • For OFWs over 60 years old or those 60 and younger with loan amount exceeding Php 2 million, a duly accomplished Health Statement Form (a medical questionnaire that can be obtained at any Pag IBIG office) along with a copy of the medical examination result as required by the employment agency and conducted before you flew overseas.
  • Photocopies of the updated Tax Declaration (house and lot) and Real Estate Tax Receipt.
  • Vicinity map or sketch of the property.
  • If abroad, Special Power of Attorney notarized either by a Philippine Consular Officer or a notary in the country where you’re working. The SPA should be authenticated by the Philippine Consulate.
  • Any or a combination of the following documents (written in or translated into the English language): Valid OWWA Membership Certificate; Payslip indicating income received and the period covered; Professional License issued by Host Country/Government; Residence card/permit (permit to stay indicating work as the purpose); Overseas Employment Certificate; Passport with appropriate visa (Working Visa); Bank remittance record.
  • For other requirements specific to the type of or the number of properties you’re planning to purchase/invest on, please refer to this list.

Step 5: File your housing loan application to Pag IBIG.

If you’re abroad, a relative or a friend can submit the application form and requirements on your behalf, provided that you execute a Special Power of Attorney.

For more information on submitting your application to Pag IBIG, please go to this link. 

Step 6: Wait for the approval of your housing loan. It takes approximately up to 17 days for your application to get approved and another 3 days from post-approval compliance for the check/loan proceeds to be released.

To know the procedures you need to complete after approval, please refer to this link. 

Step 7: Claim the check/loan proceeds at Pag IBIG. Again, if you’re abroad, a representative/Attorney-in-Fact can receive it on your behalf as long as he/she presents a notarized Special Power of Attorney (executed by you) and 2 valid IDs each for you and the said representative.

Step 8: Start paying your monthly amortization.

Go to the main article: How to Apply for Pag-IBIG Housing Loan: An Ultimate Guide