Pag-IBIG, formally known as the HDMF (Home Development Mutual Fund), is a national savings program in the Philippines that offers affordable financing options for Filipino workers to build homes.
Many Filipinos are unable to get a loan from banks because they don’t qualify due to many factors, but Pag-IBIG has made it possible for millions of Filipino workers to build or buy a home for their families.
Loan Purpose Options
You can avail Pag-IBIG housing loans to:
- Buy a residential lot or adjoining residential lots up to 1,000 sqm, including transfer costs
- Buy a residential house and lot, condo unit with parking space, or townhouse, including transfer costs
- House construction
- House improvement
- Refinancing an existing house loan
- Combined loan purposes
- Active Pag-IBIG fund member with at least 24 months in savings
- Legal and financial capacity to encumber and pay for real property
- Not more than 65 years old on the application date or not more than 70 on loan maturity
- Payments should be updated in short-term or housing loans
- No foreclosed, canceled, voluntarily surrendered, or bought back Pag-IBIG housing loan
It’s important to visit the nearest Pag-IBIG office to check your eligibility and for the complete requirements:
- Proof of income
- Housing Loan Application with recent ID photo of borrower and co-borrower (if applicable)
- One valid ID of the principal borrower and spouse, the co-borrower and spouse, the seller and spouse, the developer’s authorized representative, and the attorney-in-fact (if applicable)
You also need to secure the following from your seller:
- TCT (Transfer Certificate of Title; latest title, certified true copy)
- For condominium unit, TCT of the land and CCT (Condominium Certificate of Title, certified true copy).
- Updated tax declaration (for the house and lot) and updated real estate tax receipt (photocopy)
- Vicinity map/sketch map leading to the property (subject of the loan(
Processing Your Housing Loan Application
You have several options to process your housing loan:
- Submit your duly accomplished form and complete requirements at any Pag-IBIG Fund branch
- Apply or process your application through the accredited partner-developer selling the property
- Make the initial application on the Virtual Pag-IBIG site (pagibigfundservices.com/virtualpagibig) by clicking the relevant tabs and choosing “Apply for a Housing Loan”
Loan Repayment Terms
The repayment terms for the housing loan are a maximum of 30 years or up to the borrower’s maximum age of 70 years old.