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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.





                  


                                                 
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