Consolidated Pag-IBIG Finance Housing Loan Program

The Pag-IBIG finance housing loan may be used to finance any one or a combination of the following:
Purchase of a fully developed lot not exceeding 1,000 square meters, which should be within a residential area;
Purchase of a lot and construction of a residential unit there on;
Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot, which may be:
old or brand new a property mortgaged with HDMF; or an acquired asset which is disposed of through sealed public bidding or negotiated sale.

Construction or completion of a residential unit on a lot owned by the member;
Home improvement; i.e., any alteration in an existing residential unit intended by a homeowner to be a permanent integral part thereof, which will enhance its durability and material value;
Refinancing of an existing mortgage loan with an institution acceptable to HDMF, provided that:

The loan to be refinanced is current and updated; and The account reflects a perfect repayment history for at least 2 years, as supported by the borrower’s official receipts of pag-ibig finance.

BORROWER ELIGIBILITY: To qualify for a Pag-IBIG finance housing loan, a member shall satisfy the following requirements:

On Pag-IBIG finance membership

Must be a member under the Pag-IBIG I or Pag-IBIG II program for at least 2 years with 24 monthly contributions;
Must be a member under the Pag-IBIG Overseas Program (POP) for at least 1 year with 12 monthly contributions.
A member shall be allowed to make a lump sum payment equivalent to the required number of monthly contributions to satisfy this requirement.

Not more than 65 years old at loan maturity and must be insurable;
Has the legal capacity to acquire and encumber real property;
Has passed satisfactory background/credit and employment/ business checks of the developer and HDMF;
Has no outstanding Pag-IBIG finance housing loan, either as a principal borrower or co-borrower;
Has no outstanding Pag-IBIG MPL in arrears at the time of loan application. A member whose MPL is in arrears shall be required to pay his arrearages over the counter to update his account.
 

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