Sunday, November 27, 2022
Steps in Pag-Ibig Housing Loan


1. Attend a Loan Counseling session at the concerned Pag-ibig office and be briefed on the eligibility. Accomplish a preliminary loan counseling questionnaire, Housing Loan Application (HLA) and Membership Status Verification Slip (MSVS). This will find out if one has an outstanding obligation with Home Development Mutual Fund (HMDF). If eligible, secure the following documents:

    * Members Status Verification Slip (MSVS)
    * Notarized Housing Loan Application (HLA), Principal / Co-borrowers
    * Latest payslip duly certified by the employer (Indicate printed name and designation of assigned signatory)
    * Notarized Certificate of Employment Compensation (CEC)
    * Income Tax Return (ITR) with W2 form
    * Proof of billing address (Electric bills, PLDT. water bills, subscriptions, letters, credit card billing)
    * Certified true Certificate of Title (CCT). Latest title and its trace back through the Registry of Deeds
    * Tax Declaration of the property
    * Tax Receipts of the property
    * Contract to Sell (CTS)
    * Special Power of Attorney (if applicable) (SPA). a) Marriage contract / Birth Certificate. B. Valid ID's (Passport, License, Voters I.D. SSS I.D., Company I.D.
    * Location Plan and vicinity map signed by surveyor
    * Building, Electric, Sanitary Permits
    * Building / Floor plans signed by the borrower
    * Specification and Bill of Materials signed by a licensed Engineer.
    * License to Sell, Certificate of Registration and Development Permit (if applicable)
    * Note: Incomplete documents shall not be accepted. Submit two (2) sets of documents. Original / photocopy. Always bring the original for authentication and verification. Filing fee: P1,000 (non refundable)

2. Submit HLA with Complete Requirements listed above and Pay a processing Fee of P 1,000.00 (non refundable)

3. Receive Notice of Approval / Letter of Guarantee and sign loan documents

4. Proceed to BIR and present Deed of Absolute Sale (DOAS) between owner of the property and applicant; and other necessary documents (e.g. tax declaration, tax receipt/clearance) for payment of capital gain tax and documentary stamps and secure Certificate Authorizing Registration (CAR)

5. Proceed to Notary Public for Notarization of Loan Mortgage Agreement (LMA)

6. Proceed to the Registry of Deeds for payment of Transfer Tax and Registration Fees for the Transfer of Title and Annotation of Mortgage.

7. Secure occupancy permit from the local government Unit.

8.  Proceed to Assessor’s Office to secure new Tax Declaration for the house and lot (as the case maybe) in the name of the applicant.

9. Submit the following documents to concerned Pag-ibig office:

    * Original Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) in case of a condominium unit, in the name of the applicant with annotated mortgage.
    * DOAS with original Registry of Deeds stamp.
    * New tax declaration in the name of the applicant (house and lot, if applicable)
    * Updated real estate tax receipt (if applicable)
    * Occupancy Permit
    * Assignment of loan proceeds to the developer

10. Release of loan proceeds to the developer/ or to individual if individual loan

11. Start paying monthly amortization on the month immediately following loan take out / final loan release or base on schedule date.

Important Note: If loan application is with thru developer, agent or property consultant can assist the buyer in submission of documents to hassle free of buyers without any fees/charges. The developer will take charge of us and their prices remain the same even if sales are made without the agents or brokers.

     (+63)922-466-1409 - Sun Cell
     (+63)905-234-5526 - Globe Cell
     (+6332)511-1481    – Landline Mobile

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