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Pag-IBIG Housing Loan Procedures


Archian - Life, Bacolod, Architecture, Finances & Dubai

Archian Designs Architect Studios – Bacolod Architect

We were discussing the Pag-IBIG Fund in the past weeks. Before you go to the nearest Consulate, Embassy or Pag-IBIG Office, you might want to read the following.

Capacity to Pay.
Members capacity to pay is determined by the Amortization to Net Disposable Family Income Ratio which must not exceed 40%. Net Disposable Income is equal Gross Family Income less statutory deductions less monthly amortizations on outstanding loans.

Net Disposable Income = Salary – SSS – Philhealth – Pag Ibig – Tax
OFW Net Disposable Income = Income – Tax – Travel Ticket – Other Expenses

          Pag-IBIG Loan Term.
Maximum Loan Term is 30 years and the principal borrower must be less than 65 years old at the maturity of payment.

          Pag-IBIG Loan Charges.
Processing Fee of P3,000 – P1,000 payable upon filing of the Loan Application and P2,000 upon loan take out.

          Pag-IBIG Loan Payment.
See the Table for the Monthly amortization through salary deduction. Where Salary deduction is not possible the borrower will issue post dated checks (PDCs) initially to cover the first twelve (12) monthly amortizations.

          Mortgage Insurance.
Mortgage Redemption Insurance covers the risk in case of death of the borrower is subject to the Pag-IBIG Fund Master Policy

          Fire Insurance..
The borrower will obtain Fire Insurance on the property mortgage for an amount equivalent to the appraised value of the house or loan.

If the borrower fails to pay any three (3) consecutive monthly amortizations the property will be subject for foreclosure.

In the event of default, the entire loan outstanding together with the accrued interest, charges, fees and penalties will be due and demandable and shall constitute of lien on the Total Accumulated Value.

I hope that the above information has helped you. Before I give you the Pag-IBIG Housing Loan Procedures, I hope that you can take some time to see if these Houses are just what you are looking for.

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 or call 433 3476 in Bacolod.


1. Get a checklist of Housing Loan Requirements.
2. Attend Housing Loan Seminar (Required Attendance)
3. Ask for forms after the Seminar. Please fill up completely and legibly.
4. Submit first MSVS fr Approval.
Fill up completely and attach the Following

a) Photocopy of the latest 1 month pay slip

b) Employment Contract – for members abroad

c) Mayor’s Permit, Audited Financial Statement, ITR & Tax Payment Receipt (for self-employed)

d) Photocopy of Valid ID

e) Contribution Printout from the Pag-IBIG Marketing Division

5. Submit to Housing Loan Division.

6. Submt accomplished CVS form of Seller of Property is mortgaged w/ the Fund.

7. Claim the approved MSVS after 3 Working Days.

8. Submit the Complete requirements.

9. All documents 4 copies each.

10. File in:

First Folder: 3 copies each document including original copy.

Second Folder: 1 Copy Each document

11. Preliminary Evaluation. Interview.

12. Pay P1,000 Processing Fee.

13. Application will be processed in 30 Working Days.

14. After 30 Working Days follow up for Notice of Approval.

15. Get Notice of Approval.

16. Comply and Submit the Requirements on Notice of Approval

17. Frontline will inform you when to sign mortgage documents.

18. Follow up signed mortgage documents as instructed by Frontline Staff.

19. Get the Documents and Process the annotation of LMA & SPA. (If applicable)

20. Submit the Annotated Documents

21. Inform Forntline Staff or appraiser to conduct first inspection

22. Follow Up Check for first release w/in 7 working days.

23. Get the first release check of house and one-time lot release

24. Check will be payable to “seller and borrower” for Lot Release only

25. Prepare the Following: 2 Original Valid IDs and Cedula of Seller, Borrower and Attorney in Fact

26. Original Copy of Notarized SPA of Seller (if applicable)

27. Original Copy of Anotated SPA of Borrower (if applicable)

28. Inform Borrower that Property is ready for Second Inspection.

29. Follow-up Check for Second Release within 7 working days

30. For Final Release Submit the Following:

a) Occupancy Permit

b) Tax Declaration of House

c) House Pictures

Exterior – 4 Sides

Interior  – Optional

31. Follow up Check for Final Release w/in 7 working Days

32. Takeout. Issue PDCs. Pay P 2,000 Processing Fee.

Note: Other expenses such as Standard Appraisal Fees, Registration Expenses, Notarial & Documentation Fees, as well as taxes pertinent to the Sale & Transfer of the Property and Annotation of Mortgage shall be for the expense of the Borrower.

Now that you can see the Pag-IBIG Housing Loan Procedure till you get your last Post-Dated-Check for the Loan. You may Print this Article in case you need this handy.

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

9 thoughts on “Pag-IBIG Housing Loan Procedures

  1. sir, i have an important inquiry. how true is it that loans for house construction will be released only when the house is already 30% completed? is this sensible? kaya nga nagloan kasi walang pang construct. pls. enlighten with this. thanks a lot.

  2. Sir, if salary deduction of housing loan is not permitted by the company i work for and i do not have a checking account, can i still procceed with my housing loan? i am already in Phase 2, submission of documents after title transfer to my name, what are my options?

  3. my question is? is the MRI is applicable only during equity period or until monthly amortization?

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