Pag Ibig HOusing Loan: Easy Steps

Steps on how to apply for a Pag-IBIG housing loan for retail financing: http://www.pagibigfund.gov.ph/sp_retail.htm

1. Attend a loan counseling session at the Pag-IBIG office and accomplish a Preliminary Loan Counseling Questionnaire, Housing Loan Application (HLA) and Membership Status Verification Slip (MSVS). If eligible secure checklist of requirements (requirements would depend on the loan purpose)
2. Submit HLA with complete requirements. Pay the processing fee of P1,000 (non-refundable)
3. Receive Notice of Loan Approval/Letter of Guaranty and sig loan documents.
4. Proceed to the BIR and present Deed of Absolute Sale (DOAS) between the owner of the property and applicant for payment of documentary stamps and capital gains tax.
5. Proceed to Registry of Deeds for payment of transfer tax and registration fees for the transfer of the title.
6. Proceed to Notary Public for notarization of Loan Mortgage Agreement (LMA) and annotation of mortgage with the Registry of Deeds and to Assessor’s Office to secure new tax declaration in the name of the applicant.
7. Secure Occupancy Permit from the Local Government Unit Engineering Office when the loan is for any of the following purposes: Purchase of new Residential Unit (PRU), Purchase of Lot and Construction of a Residential Unit thereon or for House Construction only.
8. Submit the following documents to Pag-IBIG:
   • Original Transfer Certificate of Title (OTC) in the name of the applicant with annotated mortgage
   • DPAS with original RD stamp
   • New Tax Declaration in the name of the applicant
   • Updated Real Estate Tax Receipt (for house and lot, if applicable)
   • Occupancy Permit (if applicable)
   • Assignment of Loan Proceeds (it could be to the buyer or to the seller)
   
9. Release of loan proceeds in 3-5 days upon completion
   
10. Start of monthly amortization is the following month immediately following the loan take-out/final loan release