Am I qualified for a Pag-IBIG housing loan? How old should I be at the time of application? Can I apply again if I had a previous loan that was not completed? These are some of the most asked questions from Filipinos who want to apply for a Pag-IBIG housing loan.

To qualify for a Pag-IBIG housing loan, a member should take note and fulfill the following requirements:

1. On Pag-IBIG Membership 

• Must be a member under the Pag-IBIG I, Pag-IBIG II or Pag-IBIG Overseas Program (POP) for at least twenty-four (24) months, as evidenced by the remittance of at least 24 monthly contributions at the time of loan application.
• A member with less than the required number of contributions applying for a Pag-IBIG housing loan shall be allowed to make lump sum payment based on the mandatory monthly membership contribution rates (both EE and ER share) to meet the said requirement at point of loan application provided he has been a contributing member of the Fund for at least twelve (12) months. Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the payment date. 
• A member whose loan exceeds P500,000.00 shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards. 
• A member who has contributed for at least two (2) years and whose loans exceed P500,000.00 shall be required to pay the upgraded contribution rates upon housing loan approval and onwards.For purposes of satisfying the required two (2) years membership contributions, the member may opt to pay in lump sum any amount short of the said requirement. In addition, the period corresponding to the TAV applied earlier to an outstanding loan shall also be considered when counting the total number of monthly contributions, provided the remaining TAV after offsetting does not fall below the equivalent amount of two (2) years membership contributions.

2. Not more than sixty-five (65) years old at the date of loan application and must be insurable; provided further that he is not more than seventy (70) years old at loan maturity;

3. Has the legal capacity to acquire and encumber real property;

4. Has passed satisfactory background/credit and employment/business checks of the Pag-IBIG Fund;

5. Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;
However, should a co-borrower in a tacked loan signify an intention to avail of a Pag-IBIG housing loan for himself, he shall be allowed to do so provided the tacked loan is updated and the amount proportionate to his loan entitlement has been fully paid. Hence, the co-borrower shall be released from the original obligation and shall be allowed to avail of his own Pag-IBIG housing loan, subject to standard evaluation procedures.

6. Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago, which shall include cases where the borrower is no longer interested to pursue the loan and surrenders the property. 

7. Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application. A member whose multi-purpose loan is in arrears shall be required to pay his arrearages over the counter to update his account.

These requirements are prerequisite for members who aspire to buy a property with the assistance of Pag-IBIG. Now that you know if you are qualified, you can know take the next step and apply for a Pag-IBIG housing loan.