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Email Exchange : Buying Preparation, Unpaid Amortization, Membership Reactivation, etc

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Topic #1 : What You Should Know Before You Buy A Real Property

Subject: Preparation on Home Purchase

I have been a Pagibig member and was contributing voluntarily while I was in Philippines. I woulld like now to prepare myself in buying a home there. I have no relatives that I can send in your office. I also dont know my pagibig number and how much contributions I have made. Is there a number in Pagibig Cebu City office that I can call and an email address that I can send documents and follow up. Thanks

Here are some good links for you to consider.

  1. Tips for First Time Home Buyers
  2. Income vs Loan Amount
  3. The Pag-IBIG Housing Loan Process

Home Buying Questions

Topic #2 : What Happens If You Don’t Pay Your Amortization?

Subject: Payment information

Hi! good day, I just wanted to know from your good office if it is possible that the housing loan is not paid for 1year or more will the pagibig will not forclose the property?

The grace period for any missed payment is only 30 days. If you are unable to pay for 3 months, the property is already subject for foreclosure, but it could take a long time for them to disposed of it. You are still given a chance to redeem the unit or restructure your loan.

If you are in that situation already, please read the article on Home Loan Restructuring to save your property. Here’s a link:

Home Restructuring Program

Please visit the branch handling your mortgage loan.

Topic #3: OFW Checking Membership Status

Subject: Inquiry

I was a member of PAG-IBIG I for almost 10yrs in the Philippines but I stopped my contributions when I resigned teaching. After 2 years, I became an OFW in US but before I left I paid a certain amount in POEA because they required us to pay as our contribution. When I asked the guy (PAG_IBIG representative) he told me that my payment goes to my old PAG-IBIG contributions(that was Feb. 2011).Now I want to apply a housing loan in the Phiulippines but i don’t know the status of my membership. Could you please explain my status and how could I avail housing loan?Do you have active office that I can visit or call in America most specially in California.

Please contact me using my email address.

You need to check it at the branch which keeps your records. If you are already out of the country, you may want to send in a representative to process it on your behalf.

Since you wanted to apply for a housing loan, it helps if have an idea of the process. Please read this article:

Pag-IBIG Housing Loan Process

As for the overseas office, please refer to this link:

Pag-IBIG Directory

I hope this helps.

Topic #4: Where To Pay For Housing Loan Dues

Subject: inquiry on where to pay

good day! i applied for pag-ibig online and have received my number. but i don’t know where to pay or what requirements i still need to present to pay.can you please give me detail? thank you very much. by the way i am a licensed physician woring as a moonlighter/freelance on voluntary payment. thank you

Here are some of the ways you can pay the Pag-IBIG Fund:

How To Pay The Pag-IBIG Fund

The best one is still to do it over the counter at the branch where your records are kept.

Citizenship, Land Ownership and Pag-IBIG Fund Membership

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A good number of our website visitors came from Filipinos based overseas – both OFWs and immigrants. And occasionally, we also have dual-citizenship holders and former Filipinos who are certainly interested in the Pag-IBIG Fund Program. The messages and inquiries that we received from them are as varied as the different cultures they are currently in.

There is one particular question that struck our attention and we want to cover it hear simply because it many of our visitors can relate to this one and we want them to be informed about this once and for all.

The question came from R. Nunez and he said in part…

“I am a dual citizen but wish to retire early in the Philippines(Filipino/American passport holder).Can I be qualified to become a ‘Pagibig Fund’ member?”

And we replied with this:

“Please don’t make it complicated on your part. You can always use a Mortgage Loan from a Bank in your situation. That way, there is no more membership requirements and other complicated matters that go with it.”

“And yes, you are certainly allowed to own a piece of land under the Laws of the Philippines.”

(For the complete series of replies, refer to this link. )

Again, we are citing that particular inquiry because we want to elaborate further and add a few more important information for Dual Citizenship holders just like Mr Nunez and other former Filipinos as well.

Citizenship and Membership To The Pag-IBIG Fund

The right answer to Mr Nunez question is this: Yes, he is qualified to be a member of the Pag-IBIG Fund under the Pag-IBIG Overseas Program. As a matter of fact, The Pag-IBIG Fund stated that “Membership under the Pag-IBIG Overseas Program (POP) shall be open to all Overseas Filipino Workers (OFWs) with valid visas or employment contracts. Likewise, it shall be open to Filipino immigrants and to Filipinos naturalized in other countries.”

IMPORTANT UPDATE:
The Home Development Mutual Fund (or simply Pag-IBIG Fund) has changed the rule requiring OFW’s to become members of the Pag-IBIG Fund. In other words, the Pag-IBIG Overseas Program is only optional for the OFW’s, because they are now required to become regular members of the Pag-IBIG I.

For more information on the Pag-IBIG Overseas Program, please refer to the following links:

Citizenship and Land Ownership

dual passport -- Philippines and EnglandIt is a well known fact that land ownership in the Philippines is granted only to Filipino Citizens and Philippine Corporations with at least 60% interest by Filipinos.

Foreign Nationals are definitely not allowed to own. Most of them simply put the Land title in the name of a Filipino whom they can trust such as the spouse. Or it could be that they are on a long term lease-contract with the land owner.

As for the former Filipinos who are already naturalized in other countries, the Law of the Philippines still allows them to own a piece of land, but with a few limitations.

If this describes you, take note of the following restrictions.

  1. Land must be used for residential or business purposes only.
  2. Limitation on Residential land:
    1. maximum of 1,000 sq meters of urban land
    2. or one (1) hectare of rural land is allowed
  3. Limitation of Land intended for business use:
    1. maximum of 5,000 sq meters of urban land
    2. or three (3) hectares of rural land
  4. You can only get either urban land or rural land, but not both.
  5. A maximum of two (2) lots not exceeding the maximum limit in total combined area is allowed. Lots must be located in different cities or municipalities.

As for the Dual Citizenship holders (one citizenship being a Filipino) the Law of the Philippines still allows you to own land in your name just like any Filipino National.

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Citizenship, Land Ownership and Pag-IBIG Fund Membership is written by Carlos Velasco.

The Pag-IBIG Overseas Program

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For many Filipinos, times seem so hard these days in their homeland. That is why more and more Pinoys try their luck abroad, where the grass is perceived to be greener. They work in foreign lands that promise them the financial freedom that their native country cannot seem to give them.

For those who are lucky enough to return to their native land with sufficient money they have accumulated abroad, the first sound investment that would come to mind is an investment in real property. Home ownership is in every responsible Filipino’s wish list.

Overseas Investment

But waiting for a good sum of money to pay Spot Cash for a property in the Philippines is not only a good idea, but would also take a long time for most Overseas Filipinos. After all, there are other expenses, family remittances and obligations to take care of also.

Wouldn’t it be nice if they can start building their home in the Philippines while they are building their nest of cash overseas? In other words, building a house in the Philippines, without requiring too much upfront cash and pay for it in installments (mortgage amortizations).

Enter: The Pag-IBIG Overseas Program

To help the Overseas Filipino Workers, along with immigrants and naturalized citizens realize their dream home, the Pag–IBIG Overseas Program (POP) was created.

The Pag–IBIG Overseas Program is a voluntary Savings Program, wherein members are given a chance to set aside money for their future housing investments. With the program, members may avail of a housing loan of as much as Php 3,000,000 (at the time of this writing).

The Pag-IBIG Overseas Program is open to the following:

  1. All Overseas Filipino Workers (OFWs) with valid Visas or Employment Contracts
  2. Filipino immigrants and naturalized citizens

Money Talk – Member Contributions

Members of the program are to contribute monthly an amount equal to $US 5, at a minimum.

An upgraded membership is required for members, who would like to avail of a higher loan amount.For instance, if a member wishes to avail of a housing loan ranging from P1,500,000 to P1,600,000, he or she will have to contribute monthly an amount equal to the US dollar equivalent of PhP 750 at the point of availing the loan.

The upgraded membership contribution will form part of the housing loan monthly amortization.

POP As Savings / Investment

The Pag–IBIG Overseas Program not only serves as the OFW’s aid in fulfilling his dreams of owing a home. It also serves as a savings investment in the mutual fund company, that promises positive gains on the investment money. Note: The Pag-IBIG is a government controlled Mutual Fund corporation.

As a Pag – IBIG Overseas Program member, one is entitled to variable dividends from the excess earnings of the Fund. These dividends are distributed annually to the members and are credited to their Total Accumulated Values (TAV).

Members of the program have the option to withdraw their accumulated savings at the end of five (5), ten (10), fifteen (15), or twenty (20) years upon membership.

Foreign denomination contributions shall be converted to the Philippine Peso based on the prevailing US dollar exchange rate. As such, withdrawals of savings shall be made in Philippine Peso.

Member Benefits

Members of the Pag-IBIG Overseas programs are illegible to the following benefits:

  1. Housing Loan
  2. Multi-Purpose Loan
  3. Dividends

It is good to know that the Pag–IBIG Overseas Program is there to reward the efforts of OFWs through an effective savings and home financing scheme. Somehow, through POP, the OFW’s return to their native land will grant them the freedom that was somewhat denied them in the first place.

Indeed, perhaps one’s best investment in life is one’s own home. It reflects one’s status and achievement in life. This is especially true for Overseas Filipino Workers, who take chances and make sacrifices abroad for their future and that of their families.

Related Links

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The Pag-IBIG Overseas Program is written by Kyro Jo.