Pagibig Financing

Pag-IBIG Fund, Housing Loans, Mortgage, Membership, Foreclosures, etc

Pag-IBIG Financing Admin

Online Concerns: Housing Loan Applications, Membership Status And Contributions Inquiry, Etc.

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Most visitors coming to this website are Overseas Filipino Workers based from different places abroad. And many of them are asking about the online facilities of the Pag-IBIG Fund (the official website is at http://www.pagibigfund.gov.ph) so they can do some transactions anywhere they are comfortable. Some of the most common questions we encounter are listed below.

  1. I want to become a member of the Pag-IBIG Fund. Can I do it online? Do you have an online form that I can fill up and send back to you?
  2. Can I apply for A Housing Loan Online?
  3. May I request for my Pag-IBIG ID Number? Please send it through email.
  4. How will I know about my past contributions?
  5. Can I send my payments (contributions/amortizations) online?

Of course these are valid concerns as legitimate members of the Pag-IBIG Fund.

In this article, we’ll address each of these questions.

#1. Membership Application: I want to become a member of the Pag-IBIG Fund. Can I do it online? Do you have an online form that I can fill up and send back to you?

Yes, this is possible. Simply download Member’s Data Form. Print two copies and send back to the Pag-IBIG Fund.

While doing that is very convenient, the good ole way of actually handing it to the office is still best way to do it. That way, you get someone to give you an acknowledgment that your form has been received.

The most ideal way of doing it should be to just fill-up and online form — as opposed to downloading it — and waiting for a verification via email. Unfortunately, this one doesn’t exist yet. So, let’s make the best use of this one.

See also:

#2. Online Loan Application: Can I apply for A Housing Loan Online?

Just like the new member’s concern stated in #1, applying for a housing loan online still involves downloading an application form. Actually, there are other forms available on the website that are related to Pag-IBIG Loans. Here is one that you can use for the Housing Loan

The best way you can do with that form is to first study it. That should give you an idea of the documents and financial information required of you. Of course, the application will only be honored once submit it together with your signature.

Related Links:

#3. About Pag-IBIG ID: May I request for my Pag-IBIG ID Number? Please send it through email.

Sorry, but you have to personally go to the office and request for your Pag-IBIG ID Number. Please refer to #4 on how to best approach this concern.

#4. Contributions: How will I know about my past contributions?

You may want to proceed to the nearest Pag-IBIG Office and approach the staff that you want to consolidate all your contributions. You will then be given a form that you need to fill up.

The result of this might take some time especially for those who are transferring from one employer to another or those who have changed their memberships, say from employee to self-employed.
Please be patient and follow-up your inquiry at the concerned Department from time to time.

Once you get the result, you should be able to view a list of your contributions and that of your past employers. Plus, take note, the document should bear your Pag-IBIG ID Number.

See also: Your Money In Pag-IBIG Fund.

#5. Online Payment: Can I send my payments (contributions/amortizations) online?

Unfortunately, this is not possible yet. The closest way to accomplish this is to open an account with a Philippine Bank that accepts Pag-IBIG Payments. You can then arrange with the bank to execute an auto-debit setup from your account to Pag-IBIG Fund to pay for your contributions or obligations.

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This article is written by Carlos Velasco.

Pag-IBIG House In Buhangin, Davao City For Sale or Assume

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Here’s a New Year’s entry to break the silence on this website.

Those who are living in Davao City know that low-cost Pag-IBIG Projects are hard to come by. A lot of what’s available in the market are High-end projects.

Here’s a piece of good news if you are looking to invest in a low cost project by getting it from a former buyer who wants to sell it too. If you are looking for a house and lot unit in the area of Buhangin, Davao City, here is one to consider.

Location: Block 8 Lot 5 Deca Homes, Cabantian, Buhangin, Davao City
Lot Area: 96 sq.m.
House Area: 35.2 sq.m.

It’s a very affordable, 2-bedroom, single attached house with some improvements. Water and electric utilities have already been installed and can be used anytime you are there in the house.

The house is only a short, walking distance away from the Cabantian Road, so accessibility to public transportation is never a problem.

Photos

See the following photos for details.

Buy Or Assume

Assume Price: PhP 350,000 (negotiable) to include tax fees (monthly amortizations paid for more than 5yrs in the 25yrs contract)

Terms: D/P of 100,000; Bal in 12mos post-dated checks

You may also just buy the whole thing if you have cash ready to be used. The Cash Price is very negotiable.

If you want to make an offer or you want to know more, please get in touch with any of the following contact persons..

Bella Cafe : 0927-727-1779 / 0999-681-3621) or
Jan Mari Cafe : 0923-250-6006/0999-681-3622
PLDT Land Line: (084)- 646-0234

The Pag-IBIG Multi-Purpose Loan

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So far on this website, we have mostly focused on topics related to Pag-IBIG Housing Loan. That is indeed the most popular service or benefit available only to qualified Pag-IBIG Members.

The other popular program is the Multi-Purpose Loan (MPL) or sometimes referred to as Personal Loan. The Pag-IBIG Multi-Purpose Loan is essentially a financial assistance to Pag-IBIG Member that they can use for any of the following purpose:

1. Minor Home Improvement – Take note that this is only for minor home improvements. For renovation works requiring larger amount of money, you may want to avail of the Housing Loan for Home Improvement.

2. Small Business / Livelihood Financing – Good news to those who run small businesses or those planning to have one. You may use the proceeds of this loan to finance your small business venture whether it is for expansion or for initial start-up capitalization.

Pag-IBIG Personal Loan

3. Medical Assistance – If you find yourself in need of money for that medical bill, Pag-IBIG Multi-Purpose be of help.

4. Educational Purpose – You can even use it to finance your education.

5. Purchase of Appliances and Furniture – This refers to those toys that you have been wanting to buy.

6. Others – The list could go on. Actually, there can be many other things you can use that loan for.

Loan Amount, Interest Rate, Loan Term

Your loan entitlement depends on the number of contributions made and the Total Accumulated Value (TAV). Remember that TAV is defined as the member’s personal contributions, the corresponding contributions of his employer and the total dividend earnings.

So, how much can you loan exactly? The list below serves as reference.

  • 24 to 59 months contributions = Up to 60% of TAV
  • 60 to 119 months contributions = Up to 70% of TAV
  • 120 months contributions or more = Up to 80% of TAV

As you can see, the longer you have been contributing to the Fund and the larger the amount contributed, the bigger loan amount is also available to you.

The one nice thing about the Pag-IBIG Multi-Purpose Loan is that the interest rate can be as little as 10.75% per annum. That’s one of the most competitive rates in the market you can find.

The loan is to be amortized over a period of 24 months.

Loan Payments and Penalty

Paying for the loan is easier for those who are employed: payments can be done through salary deduction.

However, if you are voluntarily contributing, the following methods of payments are also available.

  • Over the counter
  • Auto-debit arrangement with accredited banks

A penalty of 0.5% of any unpaid amount shall be collected from the borrower for every month of delay.

How To Apply For Pag-IBIG Muti-Purpose Loan

1. Secure an MPL Application Form and checklist of requirements from any Pag-IBIG Fund Office.

2. Accomplish and submit the Application Form together with the requirements at the servicing branch.

3. Wait for the Loan Approval based on the date reflected on the MPL Acknowledgement Receipt.

4. Claim your check with your valid ID and the MPL Acknowledgment Receipt.

Deca Homes Esperanza, Davao City

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About Deca Homes Esperanza

The Deca Homes Esperanza is another project from the same developer that brought to Davao the other two successful Low-Cost Pag-IBIG Housing Projects : Deca Homes, Mintal and Deca Homes Cabantian. This latest project is located in Tigatto, Buhangin, Davao City – just a little above the Panorama Homes.

For as low as around 5,000 monthly amortization at 25-year Pag-IBIG Loan, one can own a simple home in this new subdivision in Davao. If this is something you’d like to consider, see the details of a sample below with its computations.

Home Price / Pag-IBIG Financing:

Package Price : P778,000
Reservation Fee : 5,000
Amortization : 5,681 (estimated)
Terms : 25 years

Property Description / Specifications:

Location: North of City Proper
Address: Tigatto, Buhangin District, Davao City

Lot Area: 80(sqm)
Floor Area: 35.1(sqm)
Bedrooms: 2
Toilet/ Baths: 1

  • Single detached
  • 2 Bedroom (all units)
  • 1 Toilet & Bath w/ tiled interior
  • Flush type toilet bowl
  • Kitchen sink with tiles
  • Painted (interior & exterior of the house)
  • Steel trusses & Color Roof

Photos of the House / Project

Contact detail of the sales representative is shown on the page below.

Requirements For Pag-IBIG Financing:

Locally Employed:

1. MSVS- attend Pag-ibig Seminar (2yrs.Member)
2. 3pcs. ID Picture (1×1 husband & wife)
3. Cedula (Xerox)
4. Marriage contract or Birth Certificate
5. Certificate of Employment and compensation duly notarized
6. Latest payslip (1month)
7. Latest W2 2316 ITR
8. Latest Service Record
9. Proof of Billing
10. TIN ID
11 .26pcs PDC (post dated checks) for two years monthly amortization

Self-employed

1. MSVS- attend Pag-ibig Seminar (2yrs.Member)
2. Business Permit
3. DTI
4. Financial Staement
5. Marriage Contract or Birth Certificate
6. TIN ID
7. Proof of Billing
8. 3pcs. ID Picture (1×1 husband & wife)
9. 1 Valid ID
10. 26pcs PDC (post dated checks) for two years monthly amortization

Overseas Filipino Workers or OFW:

1. MSVS- attend Pag-ibig Seminar (2yrs.Member)
2. Passport
3. Job Contract (xerox)
4. Marriage Contract or Birth Certificate
5. 3pcs. ID Picture (1×1 husband & wife)
6. 1 Valid ID
7. 26pcs PDC (post dated checks) for two years monthly amortization

Contact Sales Agent:

Ms.Walyn Dawan
Cellphone: +639098743605 or
Email: fairylade@yaho.com

St Therese Subdivision — Tagum City

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Notes From PagIBIGFinancing.com:

One of the most frequent requests we get from our website visitors is to feature Pag-IBIG Fund Accredited Projects and Pag-IBIG Foreclosed Units.

We heard you… loud and clear.

This particular article is the first to feature a Pag-IBIG Accredited Project from as far as south of the Philippines. In particular, in Tagum City. Tagum is some 50 km from Davao City.

This is just the first and in the next couple of days we will feature properties in Cavite and Davao… As a matter of fact, we want all of the Pag-IBIG properties all over the Philippines to be featured here in this website.

So stay in touch with us and the best way to do so is to avail of the FREE email subscription. You may use the subscription form provided on this website (on the Right Panel).

About St. Therese Subdivision in Tagum

St. Therese Sudivision is a 3-hectare socialized and economic subdivision, within the booming city of Tagum.

The subdivision project features the following:

  • Covered canal
  • Perimeter fence
  • Impressive entrance gate
  • Park and playground
  • Community facilities
  • Power Supply by DANECO
  • Water supply by WRWSA Inc.

House and Lot Units Available

House model: Corazon (lot area: 50 sq.m. / flr. Area: 30 sq.m.)
Package price: 410,000.00
Reservation fee : 5,000.00
Equity/processing fee: 27,000.00 payable within 6 months
Estimated Loanable Amount : 378,000.00

House model : Angelica (lot area: 90 sq.m. / flr. Area: 36.5 sq.m.)
Package price : 680,000.00
Res. Fee : 10,000.00
Equity/processing fee: 62,000.00 payable within 6 mos.
Est. Loanable Amt. : 631,000.00

House model: Marimar (lot area:140 sq.m. / flr. Area: 57 sq.m.)
Package price: 1,100,000.00 or 1.1m
Res. Fee: 15,000.00
Equity/processing fee: 175,000.00 payable withen 6 mos.
Est. Loanable amt. : 900,000.00

Terms of payment thru Pag-IBIG Loan: from 5 to 30 years

Some Photos/Graphics of the House Design

TERMS AND CONDITION:

  1. Reservation fee is deductible from the equity (6 mos. to pay)
  2. Php 5,000.00 will be chardge to all corner lot.
  3. Excess lot of the lot standard will be charge of Php 2,000.00/sq.m.
  4. Monthly installment for the first 2 years must be covered with PDC (24 checks)
  5. Loanable amount is subject to the approval funding institution.
  6. Equity and processing fee must be covered by PDC if equity balance is payable in terms (6 mos.)
  7. Fire insurance & MRI shall be for the account of the borrower upon completion of the unit.

NOTE: Prices are subject to change without prior notice.

Contact Person:

For more information, please contact Ms Walyn Dawan at

Cell Num: 09098743605
Email: fairylade@yahoo.com

Learn The 5Cs of Credit To Improve Your Chances Of Getting A Loan

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One of the funniest definitions of a bank comes from Bob Hope. According to him, “A bank is a place that will lend you money if you can prove that you don’t need it.”

How true! It simply means that as a lending institution, the bank will consider a number of factors before granting you a loan. Just because you need a loan doesn’t mean you will get it.

Well, more or less, the same can be said of Pag-IBIG Fund. Just because you are a member of Pag-IBIG doesn’t automatically mean that you will get a loan anytime you want to.

However, your chances of success will be greater once you are aware of the most important factors they are considering when you apply for a loan, whether personal loan or housing loan.

Remember these so called 5 Cs of Credit and see how you can apply it in your respective situations.

1. Character

What sort of person are you from the point of view of the Loan Officer? Are you someone who can be trusted with the loan? Are you most likely to pay it on time or are you the one who will most likely be a candidate of loan defaults?

How long have you been a member of the Pag-IBIG Fund? How long have you been in your work or profession? Your employment record is one of the factors they consider in the evaluation process.

See also: Getting a Pre-Qualification.

2. Capacity

How much is your salary or income? This will determine how much you can set aside to pay for the monthly amortization.

In general, the bigger the income, the better your chances of being approved. But don’t fool yourself. A lot of high-income professionals also maintain a high-maintenance lifestyle. But it all really boils down to how much is left before the next payroll takes it toll.

How much can you safely borrow? Pag-IBIG has a maximum limit of PhP 3M for the housing loan. Unfortunately, the maximum limit is not for everyone to enjoy. Your loan amount will most likely depend on your capacity to pay for it.

See also : Can You Afford That House?

3. Capital

This is another word for Equity or in some cases, it also refers to the down payment. How much of your own money do you put at risk? A large equity means you are serious about the venture that you are willing to expose that much for the property you are buying.

See also : Mortgage Loan Fundamentals

4. Conditions

What is the current state of the economy? If it is shaky, your loan application will also be drastically affected. Interest rate, which also determines the cost of using borrowed money, may also rise in response to a downturn in the economy.

What industry are you presently employed? Is it a booming industry?
How is your employment status? Are you likely to stay with your employment for the next 5 or 10 years?

5. Collateral

What are you willing to back up your loan with? In a housing loan, this one simply means the Land Title, which must be in the name of the borrower.

It only makes sense. With the collateral at stake, you will most likely meet your obligations on the loan than lose your collateral.

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The 5 Cs of Credit is written by Carlos Velasco.