The funding agency HDMF, known by the popular term PAG IBIG, brings the dedicated loan for the Philippines nation. This shelter-providing program carries an affordable financing scheme for all government employers, OFWs, and other self-employed. The PAG organization was launched in 1978. It aims to address shelter issues for Filipino employers. Therefore, to support the employed people, PAG has apportioned various requirements for receiving your loan.
PAG IBIG allows a limited member to join the membership from the Philippines. Employers who are entirely protected by Filipino security and ultimately provide their documentation can achieve the loan. However, the interest loan is awarded to people aged 18-60 years. Filipino employers must set instructions and comply with the payment timetable.
How are you eligible for a PAG Housing loan?
There are eligibility criteria for employed membership:
PAG IBIG allows employed workers and even jobless spouses to gain membership.
Filipino people who are doing different jobs have found in worldwide organizations, or foreign governments provided administrative funding. They have this offer to acquire the house.
Those people who have left their job both from abroad or local organizations. In addition, these include self-employed individuals without active income, stockholders, and others.
Regulations and rules select various other groups of personalities. Moreover, several other religious personnel of different owners is applicable for PAG funds.
Requirements for PAG – IBIG House loan
However, the PAG IBIG requirements vary according to the workers and businesses. Who are you? Some conditions are similar for all employers, whether self-employed, OFWs, government employers, or whatever.
Two valid Self-claimed ID pictures
For unmarried self-employed, a birth certificate photocopy is required. For married employed, marriage certificate photocopy
A copy of the Residential certificate
For widower employers, the death certificate copy of their owners is attached to the loan file.
Authorized issued letter
Membership valid slip
Attorney letter of authorization
For renting employers, ID attested copy of the landlord is required
Furthermore, there are also other required documents, such as;
Employer’s Certification of employment and compensation; CEC. This letter will ensure the income source’s monthly allowances, income details, and monthly profit.
Updated income tax return; ITR with BIR receipt
The monthly payment slip must be verified within three months.
Other income source holders or Self-employed
For self-employed members, there are some requirements for a PAG IBIG loan;
Tax Declaration and member’s contract copy
Tax declaration receipt and it must be paid and verified
12 months bank statement
Member’s commission voucher
Job contract letter
Business owners transferred engagement certification.
Moreover, Loyal employees have to verify their latest ITR
Pay slip of 3 months
Your updated ESAV agreement with at least one year of contribution
Though you’re a self-employed individual, you must attach all the business and personal confirmation letters. The registered paperwork is provided to the official counter or webpage of PAG. Fortunately, you are eligible to apply for the PAG IBIG loan. For your loan acceptance must verify your documents within three months.
You can update your application and add worth by the latest reliance and authentication of your existence. After the completion of your application process, examine the rest of the credentials and update your required data to PAG authorities.
After your application approval and loan achievement, submit your NOA. A further step is to initiate your monthly amortizations.
However, you are a local employed in the Philippines. Luckily, you’ve accomplished PAG IBIG’s basic requirements for a housing loan plan. Your loan necessities are verified, and you can fulfill your dreams with our funding offers.
Marina Aguilar is a freelance writer and editor with a passion for personal finance and real estate. She has been writing about finance and housing for over five years and has worked with various clients, including banks, financial institutions, and real estate developers. Marina believes that everyone deserves access to affordable housing and is committed to helping Filipino workers achieve their dream of homeownership through the Pag-IBIG Fund's housing loan program. In her free time, Marina enjoys hiking, reading, and spending time with her family.
