How to avail pag ibig loan

Want to apply for a PAG-IBIG loan to finance your building or house? Here are the best procedures on how to avail or apply for PAG-IBIG Housing loan in the Philippines

Procedures on How to Avail or Apply for PAG-IBIG Housing Loan

1. Get your checklist of requirements and housing loan forms.

You can access the checklist of requirements for PAG-IBIG housing loan forms here .

2. Submit your Housing Loan Application to the PAG-IBIG Fund Office with complete requirements. Pay partial processing fee of P1,000 (non-refundable)

  • NCR Properties: To be filed in any of the following PAG-IBIG offices: Manila, Imus, Ortigas, Kamias and Makati (Filomena Building).
  • Provincial properties: To be filed at the PAG-IBIG office nearest in your area.
  • Processing period of your PAG-IBIG Housing loan application would take 15 working days.
3. Receive your Notice of Approval (NOA), Letter of Guaranty (LOG) and sign your loan documents.

4. Accomplish your NOA requirements for check release

  • You are given 90 calendar days t do the following:
Purchase of House and Lot/Purchase of Condominium Unit/Purchase of Lot
  • Give LOG to the seller
  • Proceed to the BIR for payment of Capital Gains Tax and Documentary Stamp Tax. The BIR will issue Certificate Authorizing Registration
  • Proceed to the Local Government Unit (LGU) for payment of Transfer Tax
  • Proceed to the Registry of Deeds (RD) for transfer of title and annotation of mortage
  • Proceed to the LGU for transfer of Tax Declaration
Purchase of House and Lot Mortgaged with PAG-IBIG Fund
  • Proceed to the BIR for payment of Capital Gains Tax and Documentary Stamp Tax. The BIR will issue Certificate Authorizing Registration
  • Proceed to the Local Government Unit (LGU) for payment of Transfer Tax
  • Go to the PAG-IBIG office to schedule trip to the Registry of Deeds (RD) for transfer of title and annotation of mortage
  • Proceed to the LGU for transfer of Tax Declaration
Construction of House/Home Improvement
  • Proceed to the BIR for payment of Documentary Stamp Tax
  • Proceed to the Registry of Deeds (RD) for annotation of mortgage
Refinancing
  • Proceed to the Bank/Financing Institution to give the Letter of Guaranty (LOG) and Loan and Mortgage Agreement (LMA)
  • Proceed to the Registry of Deeds (RD) for annotation of mortgage
5. Submit to the PAG-IBIG Fund your Notice of Approval (NOA) and complete requirements

Your loan will be ready for release within 7 working days

6. Receive your loan proceeds at the PAG-IBIG Fund

7. Start paying your monthly amortization

One month from check release / loan take-out (for house construction/home improvement, one month from final check release)

Source: www.affordablecebu.com

Category: Credit

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