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The OFW and their Dream Home!

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Archian - Life, Bacolod, Architecture, Finances & Dubai

One of the primary reasons Filipinos opt to work abroad is to fulfill their desire of having their own bacolod dream home. Most of our countrymen finding it hard to save even for that small house and lot since making both ends meet with their measly income is already difficult. The Solution is to work overseas since jobs there pay much much more. A higher paying job would certainly provide an OFW enough cash to save for that dream home.
To assist the OFWs in this endeavor, RA 9679 or the Home Development Mutual Fund Law of 2009 was passed which mandates overseas Filipino workers to be a member of the Pag-Ibig Fund or the Home Development Mutual Fund. One of the distinct features of  this new law is the OFWs’ employer is required to pay his equivalent share to an OFW’s Pag-Ibig Premium which is equivalent to 2 % of his monthly income. With Pag-Ibig membership, OFWs can now get a housing loan from Pag-Ibig.

According to the implementing rules and regulations of RA9679, all Filipinos who will be working overseas – whether land based or sea- based, are required to register with Pag-Ibig as a member before they leave to their respective destinations. All overseas Filipino workers who are already abroad can register here. You can also register among the various Pag-Ibig posts in the country where they are posted.

Sea-based workers are also covered by this law. The manning or employment agency which hired him would be his employer, thus would be required to pay its counterpart share to the Pag-Ibig premium.


One of the benefits OFWs can get from this mandatory membership is that you can save through the monthly contributions which also earn dividends. According to Pag-Ibig, an OFW can raise P203,768 from a P500 a month contribution on a 5% dividend rate for 20 years. This is just interest from savings.

You can also loan from your account. The Loan amount is dependent on your monthly contribution. A monthly amortization for a housing loan from Pag-Ibig can be as low as 600 for a P100,000 loan with an interest of 6%. OFWs can even get up to a 3-million loan whether for a house and lot, condominium, townhouse, renovation, or to refinance an existing housing loan from a bank.

Quatro Patria Residences - Architect Designed Cluster Homes in Bacolod City, Philippines

Quatro Patria Residences in Bacolod City

Quatro Patria Residences is an exquisite 4-Unit Designed Residential Development conceived as a modern Cluster-Community in the Heart of Bacolod City in Negros Occidental. These 3-4 Bedroom Units are perfect for OFWs wanting to purchase their dream home. If you are a regular Pagibig Contribution, it may be time to get the loan on the limited units. To see the progress of construction and for more information about QPR visit the Bacolod house for sale or call 433 3476 in Bacolod.

Going back to Pagibig, before RA 9679, overseas Filipino workers can register as a Pag-Ibig member only under the Pag-Ibig Overseas Program (POP). This is a voluntary saving scheme for Filipinos abroad. Under RA 9679, all overseas Filipino workers are required to register under Pag-Ibig I, regardless if they are POP members or not.

For overseas Filipinos who are registered as POP member and who do not have an existing housing loan with Pag-Ibig, they can discontinue their POP membership and re-register for Pag-Ibig I membership instead. OFWs may continue their POP membership while re-registering for the required Pag-Ibig I membership.

The POP TAV (Total Acculmulated Value) may be withdrawn at point of maturity of POP membership while for those who opt to continue both memberships, their TAVs under both programs shall be kept separate. POP TAVs will be released to the member upon maturity of term even if his Pag-Ibig I membership is not yet due for release.

Regardless of whether an OFW stays only at one company during his employment abroad or he transfers from one company to another, Pag-Ibig assures OFW members that their savings are safe and will only be theirs as these will be kept only under names.

Other Articles you might Read:

See the Houses of Quatro Patria Residences in Bacolod City.
Architect of Quatro Patria Residences.
Additional Information on Pag-IBIG Housing Loans.
OFW Advantage to Buy a Dream Home!
Step by Step with Pag-IBIG Housing Loan Procedures
Find a Pag-IBIG Loan Forms


Author: Archian

An Architect, Blogger and Strategic Thinker

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