Pag-ibig housing loan experience

My husband and I just took out a Pag-ibig Fund loan to acquire a house and lot unit at a subdivision in Lapu-Lapu City.

While the property is not brand new, it’s a unit foreclosed and reacquired by Pag-ibig from its previous owner who failed to pay the required amortization, we still followed the same steps enumerated in the fund’s housing loan guidelines.

The first step in the process of taking out a Pag-ibig housing loan is attending a counseling session. Pag-ibig holds regular counseling sessions at its branches. In our case, we attended loan counseling when Pag-ibig held a housing fair in Lapu-Lapu City.

After the counseling, the Pag-ibig personnel gave us a certificate of attendance, a housing loan application form, and a list of documents that we needed to submit so we could avail of a housing loan.

One of the requirements was a membership status verification slip (MSVS), which we had to request from Pag-ibig. Processing of the MSVS takes seven days but in our case it was even longer because we had a salary loan that was long overdue.

Pag-ibig released our MSVS a week or so after we paid off the loan. We filled up the housing application form and submitted this with the other requirements, which included the MSVS, certificate of employment with salary breakdown, latest 1 month payslip, Income Tax Returns (ITRs) for the last two years, photocopy of a company ID or any valid ID with signature, proof of billing, community tax certificate, and 4 pieces of 1×1 picture.

Aside from these requirements, we were also asked for certified true copies of the transfer certificate of title, sketch plan, and tax declarations for the house and lot unit. Since the property we were buying had been foreclosed and reacquired by Pag-ibig, the housing agency had all these documents in its keeping.

There are additional other requirements for housing loans covering new buildings such as permits like occupancy, building, and electrical, among others, and a building plan.

After we submitted all the requirements, the Pag-ibig personnel told us they will call us once our loan gets approved. When I did not hear from them for almost a month, I called the Pag-ibig office and I was asked to call again after three days because they were still processing our loan.

When our housing loan was approved, we were asked to go to the Pag-ibig office. There, we entered into a contract to sell with Pag-ibig and the agency’s legal officer notarized the document.

Listed in the contract to sell is the description of the housing unit, the manner of loan payment, monthly amortization amount, and some other considerations.

Whether it’s to pay for a brand new housing unit, purchase a lot and construction a house thereon, or acquire any of the properties being sold by the housing agency, feel free to share your own experiences with Pag-ibig’s housing loan program.

  • hi engkanta

    im bong from qc. mejo off topic to pero ask ko na rin.
    wala na kasi akong mahingan ng advice eh. you seem to have a grasp on the subject.

    here’s my query:
    id like to avail pag-ibig’s housing loan. based sa guidelines, im qualified. 8 years na ko sa gov’t. gusto ko sana mag renovate ng house namin. actually its my parents’ house (owned). 16 yrs old na rin nman yung house so, its begging for a renovation. dami na talagang sira (low cost lng kasi sya).

    nways, ang problema, naka pangalan sa kanila yung house, conjugal, and my dad died 3 years ago (without a will and testament). pano ko kaya malilipat yung house sa name ko? my mom and siblings had given me the go signal. ok lng daw ipangalan sa kin yung house kasi lahat sila may house na. di ko lng alam kung pano.

    nasa guidelines ng pag-ibig housing loan na dapat naka pangalan sakin yung house di po ba? pano po kaya gagawin ko?

    many many thanks in advance

    best regards


  • nina

    Bungi, my guess (read: I’m have no idea)is you and your mom and siblings can execute a deed of sale, even if there’s no actual sale. That document if signed and notarized will be legal and binding. They can also execute deed of assignment or some document relinquishing their right to the property. However, deed of assignment will have higher taxes than deed of sale. Seek legal advice.

  • thanks engakanta!

    My problem now is what amount should i put in the DOAS? should i put
    any amount? honestly, i dont want to pay any tax or whatsoever.

    another question, maabala po kayo uli, if ever my loan gets approved,
    are they gonna give me a check or they gonna go direct to a contractor
    that will renovate the house. sa totoo lang po kasi, im not planning
    to spend all 500,000 pesos just for renovation.

    maraming salamat po uli in advance


  • Me

    Just want to ask if i have cancelled credit card will it affect my application for housing loan?

  • emy

    you can visit their website for more info,

  • Lady

    Hi Me!

    Even though you have a canceled credit card, that won’t affect your housing loan application with PAG_IBIG. All that matters for PAG-IBIG is that they have no record of you for previous unsettled major loans from them and that you where not found submitting false information.

  • melardenio

    same question with bongski…

    well same pa nga din tayo ng dad too passed away 3 yrs ago..and my mom wants me to renovate the house.

    ano bang tawag sa loan na yun pag renovation lang ang gagawin?

  • http://yahoo.mail rizel

    just want to ask what the procedure in buying foreclosed property thru pag-ibig and where can i get the list of foreclosed property…thanks

  • Analiza Mccain

    Hi there I have a question regarding housing loan through pag ibig, so how can I avail the loan? Iam from cebu and now Iam here in california. Will you please tell me the process and everything. thank you and God bless you.
    Do we need to be a member? and how, since Iam here in USA.

  • lorena

    gusto ko lang malaman ang balance account ng bro-in-law ko na si Domingo Fufunan Collado 0606044R

  • http://myproperty Analiza Rama

    Hi there,
    Taga cebu ko, unya naminyo ug americano,gusto ko mo loan sa pag ibig. I was wondering kong naa ta oversea unsa-on man pag attend sa siminar?