Affordable Housing Program FAQs

1. What are the loan purposes?

The Pag-IBIG housing loan may be used to finance any one of the following:

• Purchase of a fully developed residential lot or adjoining lots not exceeding 1,000 square meters;

• Purchase of a residential house and lot, townhouse, or condominium unit;

• Construction or completion of a residential unit on a lot owned by the member.

 

2. Who are eligible to apply for Affordable Housing Program?

The program may be availed of by members who satisfy the following requirements:

• Must have remitted 24 monthly contributions under Pag-IBIG I Membership Program. New members may pay the 24 monthly membership contributions in lump sum, corresponding to the loan amount applied for;

• Has a gross monthly income not exceeding ₱17,500.00 for those working in the NCR and ₱14,000.00 for workers in other regions;

• Not more than 65 years old;

• Has no outstanding Pag-IBIG housing loan;

• Has no outstanding multi-purpose loan in arrears; • Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default or subjected to Dacion en Pago.

 

3. How much can a member borrow?

• A qualified Pag-IBIG member may borrow up to a maximum amount of ₱750,000.00, depending on the member’s actual need, his loan entitlement based on gross monthly income, his loan entitlement based on capacity to pay, and the loan-to-appraisal value ratio, whichever is the lowest.

• A maximum of three (3) qualified Pag-IBIG members may be tacked into a single loan provided they are related within the second civil degree of consanguinity or affinity.

Click PDF Version Affordable Housing FAQs 7-28-2014