3. BORROWER'S ELIGIBILITY To qualify for a Pag-Ibig housing loan, a member shall satisfy the following requirements:
3.1 On Pag-Ibig Membership
3.1.1 Must be a member under the Pag-Ibig 1 Membership Program for at least twenty-four (24) months, as evidenced by the remittance
of at least 24 monthly contributions at the time of loan application.
3.1.2 A member who has contributed for at least two (2) years shall be required to pay the upgraded contribution rates upon housing
loan approval and onwards.
3.1.3 A new member who wishes to apply for a housing loan and remit his membership contributions in lump sum shall be required to
pay the membership contribution that correspond to the loan amount applied for to cover the 24 months membership requirement.
Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the
payment date.
Similarly, a member who has existing monthly contributions that are still short of the 24 monthly membership requirement may pay
his contributions for the succeeding months in lump sum based on the membership contribution that correspond to the loan amount
applied for.
For purposes of computing the lump sum contribution, the following contribution rates shall be adopted:
Membership Contribution Loan Amount
P 200 Up to P 500,000
P 250 Over P 500,000 to P 600,000
P 300 Over P 600,000 to P 700,000
P 350 Over P 700,000 to P 800,000
P 400 Over P 800,000 to P 900,000
P 450 Over P 900,000 to P 1.0M
P 500 Over P 1.0M to P 1.1M
P 550 Over P 1.1M to P 1.2M
P 600 Over P 1.2M to P 1.3M
P 650 Over P 1.3M to P 1.4M
P 700 Over P 1.4M to P 1.5M
P 750 Over P 1.5M to P 1.6M
P 800 Over P 1.6M to P 1.7M
P 900 Over P 1.7M to P 1.9M
P 950 Over P 1.9M to P 2.0M
P 1,000 Over P 2.0M to P 2.1M
P 1,050 Over P 2.1M to P 2.2M
- -
up to up to
- -
P 2,950 Over P 5.9M to P 6.0M
3.1.4 After filing the housing loan application, the member shall still be required to continue remitting monthly contributions based on the
upgraded rate. However, if the approved loan amount is less than the loan amount applied for, the member shall pay his membership
contributions that correspond to the approved loan amount upon the approval of his housing loan and every month thereafter.
3.1.5 For purposes of satisfying the membership requirement for housing loans, the period corresponding to the Total Accumulated Value
(TAV) applied earlier to a member's outstanding loan(offsetting) shall be considered when counting the total number of monthly
contributions.
3.1.6 Pag-ibig Overseas Program (POP) contributions of Overseas Filipino Workers (OFWs) who are Pag-Ibig 1 members shall be
considered in counting the total number of contributions for availment of housing loans.
3.2 Not more than sixty-five (65) years old at he date of loan application and must be insurable; provide further, that he is not more than
seventy (70) years old at loan maturity;
3.3 Has the legal capacity to acquire and encumber real property;
3.4 Has passed satisfactory background/credit and employment/business checks of Pag-Ibig Fund;
3.5 Has no outstanding Pag-Ibig housing loan, either as a principal borrower or co-borrower;
However, should a co-borrower in a tacked loan signify an intention to avail of a Pag-Ibig housing loan himself, he shall be allowed to do so
provided the tacked loan, as a whole, is updated and the amount proportionate to his loan entitlement has been fully paid. Hence, the
co-borrower shall be released from the original obligation with the consent of the principal and the other co-borrowers, and shall be allowed
to avail of his own Pag-Ibig housing loan subject to standard evaluation procedures.
3.6 Has no outstanding Pag-Ibig multi-purpose loan in arrears at the time of loan application. A member whose multi-purpose loan is in arrears
shall be required to pay his arrearages over the counter to update his account.
3.7 Has no Pag-Ibig housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago, which shall
include cases where the borrower is no longer interested to pursue the loan surrenders the property. However, the Senior Management may
allow such borrowers to avail of a new housing loan under certain meritorious conditions, such as but are not limited to the following:
3.7.1 Illness of the borrower or any of his immediate family members as certified by a govenrment doctor together with the abstract or
findings of the attending physician, if different from the certifying government doctor. The illness under consideration must be that
which required the borrower to incur substantial expenses or a prolonged treatment of such illness which caused him/her, to fail in
his/her obligation with the Fund and eventually resulted in the foreclosure of his REM account, cancellation of the CTS, or surrender
of his/her property via dacio en pago.
3.7.2 Unemployment of the borrower at the time his previous housing loan was foreclosed, its CTS cancelled or the property surrendered
through dacion en pago, but the said borrower has now become employed and is able to meet all other eligibility criteria.
3.7.3 Other similar meritorious cases that the Senior Management may consider.
3.1 On Pag-Ibig Membership
3.1.1 Must be a member under the Pag-Ibig 1 Membership Program for at least twenty-four (24) months, as evidenced by the remittance
of at least 24 monthly contributions at the time of loan application.
3.1.2 A member who has contributed for at least two (2) years shall be required to pay the upgraded contribution rates upon housing
loan approval and onwards.
3.1.3 A new member who wishes to apply for a housing loan and remit his membership contributions in lump sum shall be required to
pay the membership contribution that correspond to the loan amount applied for to cover the 24 months membership requirement.
Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the
payment date.
Similarly, a member who has existing monthly contributions that are still short of the 24 monthly membership requirement may pay
his contributions for the succeeding months in lump sum based on the membership contribution that correspond to the loan amount
applied for.
For purposes of computing the lump sum contribution, the following contribution rates shall be adopted:
Membership Contribution Loan Amount
P 200 Up to P 500,000
P 250 Over P 500,000 to P 600,000
P 300 Over P 600,000 to P 700,000
P 350 Over P 700,000 to P 800,000
P 400 Over P 800,000 to P 900,000
P 450 Over P 900,000 to P 1.0M
P 500 Over P 1.0M to P 1.1M
P 550 Over P 1.1M to P 1.2M
P 600 Over P 1.2M to P 1.3M
P 650 Over P 1.3M to P 1.4M
P 700 Over P 1.4M to P 1.5M
P 750 Over P 1.5M to P 1.6M
P 800 Over P 1.6M to P 1.7M
P 900 Over P 1.7M to P 1.9M
P 950 Over P 1.9M to P 2.0M
P 1,000 Over P 2.0M to P 2.1M
P 1,050 Over P 2.1M to P 2.2M
- -
up to up to
- -
P 2,950 Over P 5.9M to P 6.0M
3.1.4 After filing the housing loan application, the member shall still be required to continue remitting monthly contributions based on the
upgraded rate. However, if the approved loan amount is less than the loan amount applied for, the member shall pay his membership
contributions that correspond to the approved loan amount upon the approval of his housing loan and every month thereafter.
3.1.5 For purposes of satisfying the membership requirement for housing loans, the period corresponding to the Total Accumulated Value
(TAV) applied earlier to a member's outstanding loan(offsetting) shall be considered when counting the total number of monthly
contributions.
3.1.6 Pag-ibig Overseas Program (POP) contributions of Overseas Filipino Workers (OFWs) who are Pag-Ibig 1 members shall be
considered in counting the total number of contributions for availment of housing loans.
3.2 Not more than sixty-five (65) years old at he date of loan application and must be insurable; provide further, that he is not more than
seventy (70) years old at loan maturity;
3.3 Has the legal capacity to acquire and encumber real property;
3.4 Has passed satisfactory background/credit and employment/business checks of Pag-Ibig Fund;
3.5 Has no outstanding Pag-Ibig housing loan, either as a principal borrower or co-borrower;
However, should a co-borrower in a tacked loan signify an intention to avail of a Pag-Ibig housing loan himself, he shall be allowed to do so
provided the tacked loan, as a whole, is updated and the amount proportionate to his loan entitlement has been fully paid. Hence, the
co-borrower shall be released from the original obligation with the consent of the principal and the other co-borrowers, and shall be allowed
to avail of his own Pag-Ibig housing loan subject to standard evaluation procedures.
3.6 Has no outstanding Pag-Ibig multi-purpose loan in arrears at the time of loan application. A member whose multi-purpose loan is in arrears
shall be required to pay his arrearages over the counter to update his account.
3.7 Has no Pag-Ibig housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago, which shall
include cases where the borrower is no longer interested to pursue the loan surrenders the property. However, the Senior Management may
allow such borrowers to avail of a new housing loan under certain meritorious conditions, such as but are not limited to the following:
3.7.1 Illness of the borrower or any of his immediate family members as certified by a govenrment doctor together with the abstract or
findings of the attending physician, if different from the certifying government doctor. The illness under consideration must be that
which required the borrower to incur substantial expenses or a prolonged treatment of such illness which caused him/her, to fail in
his/her obligation with the Fund and eventually resulted in the foreclosure of his REM account, cancellation of the CTS, or surrender
of his/her property via dacio en pago.
3.7.2 Unemployment of the borrower at the time his previous housing loan was foreclosed, its CTS cancelled or the property surrendered
through dacion en pago, but the said borrower has now become employed and is able to meet all other eligibility criteria.
3.7.3 Other similar meritorious cases that the Senior Management may consider.
