With the signing of Republic Act No. 9679, membership to the Fund shall be mandatory for the following:
Membership to the Fund is also open to the following:
An eligible member may avail of a housing loan under either the
End-User Financing Program or the Magaang Pabahay, Disenteng Buhay
Program. Under the End-User Financing Program, a member may avail of
a loan to finance any of the following (Circular 247):
An eligible member may avail of a housing loan under either the End-User Financing Program or the Magaang Pabahay, Disenteng Buhay Program. Under the End-User Financing Program, a member may avail of a loan to finance any of the following (Circular 247):
a. Purchase of a fully developed lot not exceeding one 1,000 square meters,
which should be within a residential area;
b. Purchase of a residential house and lot, townhouse or condominium
unit, inclusive of a parking slot.
The unit may be:
• Old or brand new;
• A property mortgaged with the Fund; or
• An acquired asset, which is disposed of through sealed public bidding,
negotiated sale, or the Rent-to-Own Program.
c. Construction or completion of a residential unit on a lot owned by the member;
d. Home improvement, i.e. any alteration in an existing residential unit intended
by homeowner to be a permanent integral part of the property,
which will enhance its durability and material value;
e. Refinancing of an existing mortgage with an institution acceptable to the Fund,
• The loan is not in default within the 12 months prior to the date of application;
• The said loan has a repayment history of at two years with the original mortgage.
f. Combination of loan purposes, which shall be limited to the following:
• Purchase of a fully developed lot not exceeding 1,000square meters and construction
of a residential unit thereon;
• Purchase of a residential unit, whether old or new, with home improvement;
• Refinancing of an existing mortgage with home improvement;
• Refinancing of an existing mortgage, specifically a lot loan, with construction
of a residential unit thereon.
Under the Magaang Pabahay, Disenteng Buhay Program, a qualified member may purchase an acquired asset of the Fund either in cash or through a housing loan at very reasonable prices. A buyer who purchases an acquired asset in cash is entitled to a 20% discount on the property’s sales price, while a buyer who purchases through a housing loan is entitled to a 15% discount on the property’s sales price.
To qualify for a Pag-IBIG housing loan, a member must satisfy the following requirements:
a. Must be a member under the Pag-IBIG I for at least 24 months,
as evidenced by the remittance of at least 24 monthly contributions
at the time of loan application.
b. Not more than 65 years old at the date of loan application and must be insurable;
provided further that he is not more than 70 years old at loan maturity;
c. Has the legal capacity to acquire and encumber real property;
d. Has passed satisfactory background/credit and employment/business checks conducted
by the developer and the Pag-IBIG Fund;
e. Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co- borrower;
f. Has not availed of a 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;
g. May have an outstanding Pag-IBIG multi-purpose loan but which is updated
in payments at the time of loan application. A member whose
multi-purpose loan is in arrears shall be required to pay his arrears
over the counter to update his account.