Pag-Ibig Housing Loan Process for Property from Individual Seller/Owner

Here’s a step-by-step guide to help you navigate the process of securing a Pag-Ibig Housing Loan for a property from an individual seller or owner. The process involves preparing various documents from both the seller and the buyer, submitting them to Pag-Ibig, and awaiting loan approval.

Step 1: Prepare Property Documents (Seller’s Requirements)

  1. Original Title from the owner (this will be used for registration and issuance of a new title).
  2. Certified True Copy of Title (latest) from the Registry of Deeds.
  3. Certified Tax Clearance (latest) from the Local Treasury.
  4. Certified Tax Declaration for Land and Building (latest); if it’s land only, request a certificate of no improvement from the Local Assessor’s Office.
  5. Property Vicinity Map with street view (you may use a Google map print-out with landmarks).
  6. Two Valid IDs of the Seller/Owner (photocopies with 3 original signatures; both husband and wife must sign if married).
  7. Contract to Sell (signed and notarized).

Step 2: Prepare Buyer’s Documents/Requirements

  1. Pag-Ibig Membership: The buyer must be a Pag-Ibig member for at least 24 months.
  2. Employment Status: Must be employed; for business owners, additional requirements may apply.
  3. Latest Pay Slip (3 months).
  4. Certificate of Employment (COE) with compensation (notarized).
  5. Income Tax Return (ITR).
  6. Birth Certificate (for singles) or Marriage Contract (for married individuals) from PSA.
  7. Proof of Billing: Meralco, water bill, or barangay residence certificate.
  8. Two Valid IDs (photocopies with original signatures).
  9. Two (2) Passport-sized Photos (1×1).
  10. Contract to Sell from the seller/owner.

Step 3: Submit Documents to Pag-Ibig Office

  1. Bring all the documents mentioned above to the Pag-Ibig office.
  2. Fill out the Housing Loan Application Form.
  3. Submit the completed application and required documents.
  4. Pay the Initial Processing Fee (estimated at ₱3,000).

Step 4: Wait for House Inspection and Loan Approval

  1. After submission, you will be contacted by Pag-Ibig for a house inspection.
  2. Wait for the Notice of Loan Approval.

Step 5: Transfer of Title and Mortgage Annotation

Once you receive the Notice of Loan Approval and Loan Guarantee from Pag-Ibig, the process of transferring the title and annotating the mortgage will begin.

  • Deed of Absolute Sale: This document is required to transfer the title.
  • Payment of Taxes: The buyer must settle the taxes involved, but the approved loan amount from Pag-Ibig can be used for this purpose.

Disclaimer

This guide provides general information and tips. For more accurate and detailed requirements, it is recommended to contact Pag-Ibig and the relevant offices, as there may be additional requirements or changes to the process.