Frequently Asked Questions

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Who can be member of Pag-IBIG Fund?

Mandatory

With the signing of Republic Act No. 7742 all SSS and GSIS members earning P4,000 and above monthly are mandatorily covered by Pag-IBIG fund.

Voluntary

Membership to the fund is also open to:

• • Private and government workers earning less than P 4,000 a month but who wish to join anyway;
  • Self-Employed workers such as professionals and businessmen;
  • Overseas contract workers (OCW);
  • Residents and immigrants in the United Staes and Canada;
  • Informal income group such as cooperative members;
  • Non-working spouses.

How much is the monthly contribution?

For employees with monthly compensation (Basic+COLA) of P1,500 and less, an amount equivalent to one percent (1%) of their monthly compensation, and two percent (2%) of the monthly compensation of employees earning over P1,500.

1. Over P1,500 , an amount equivalent to two percent (2%) of the monthly compensation of each covered employee.
   1. savings
   2. short term loan
   3. Housing loan
   • US $1,000 or less shall contribute US$20 or its peso equivalent monthly.
   • Over US $1,000 , monthly contribution of US $40 or its peso equivalent.
   • C$1,500 or less, monthly contribution of US $40 or its peso equivalent.
   • Over C$1,500 a month. monthly contribution of C$60 or its peso equivalent.
   • double or triple your money benefit
   • tax-free dividend earnings
   • portability of savings
   • government-guaranteed
   • Membership maturity after 20 years
     • A member who signs up under RA 7742 (Pag-IBIG Universal Coverage Law) shall be allowed partial withdrawal after 10 or 15 years of continuous membership, provided he has no outstanding housing loan with the Fund.
   • Retirement
     • at age 45 (early retirement plan)
     • at age 60 (optional retirement)
     • at age 65 (mandatory retirement)
   • Permanent departure from the country.
   • Permanent total physical disability/insanity.
   • Termination from service by reason of health.
   • Death of the member
   • Purchase of a fully developed lot not exceeding one thousand (1,000) square meters which should be within a residential area;
   • Purchase of a lot and construction of a house thereon.
   • Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot, which 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 Rent to Own program
   • Construction or completion of a residential unit in a lot owned by the member;
   • Home improvement;
   • Refinancing of an existing mortgage loan with an institution acceptable to the Fund, provided that:
   – the loan to be refinanced is current and updated at the time of loan application;
   and
   – the account reflects a perfect repayment history for at least two years, as supported by the borrower’s official receipts
   • Combination of loan purposes shall be limited to the following:
   -Purchase of a fully developed lot not exceeding 1,000 sq.m. 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 or
   -Refinancing of an existing mortgage, specifically a lot loan with construction of a residential unit thereon.
   Who are eligible to borrow?
   • Must be a member under the Pag-IBIG I or Pag-IBIG II program for at least 24 months as evidenced by the remittance of at least 24 monthly contributions at the time of loan application:
   • Must be a member under the Pag-IBIG Overseas Program (POP) for at least two years
   • A member under Pag-IBIG I & II or the POP shall be allowed to make a lump sum payment equivalent to the required number of monthly contributions to satisfy this requirement;
   • Under the Pag-IBIG Overseas Program (POP), must have remitted an amount equivalent to his savings for at least 12 months.
   • Must not be more than 65 years old at loan maturity and must be insurable;
   • Must have the legal capacity to acquire and encumber real property;
   • Must have passed satisfactory background/credit and employment/business checks of the developer and the Fund;
   • Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back or subjected to “dacion en pago”
   • Must have no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower; and
   • 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 arrears over the counter to update his account.How does one avail of a Pag-IBG Housing Loan ?
     1. Attend a Loan Counseling session at the Pag-IBIG Office concernedAccomplish a Preliminary Loan Counseling Questionnaire, Husing Loan Application (HLA) and Membership Status Verification Slip. If eligible, secure checklist of requirements.
     2. Submit HLA with complete requirements. Pay a processing fee of P1,000.00 (non-refundable)
     3. Receive Notice of Approval/Letter of Guaranty and sign loan documents.
     4. Proceed to BIR and present Deed of Absolute Sale (DOAS) between owner of the property and applicant for payment of documentary stamps and capital gains tax.
     5. Proceed to Registry of Deeds (RD) for payment of transfer of tax and registration fees for the transfer of title.
     6. Proceed to Notary Public for notarization of LMA and annotation of mortgage with the Registry of Deeds (RD) 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’s (LGU) Engineering Office for Purchase of new Residential Unit (PRU), Purchase of Lot and Construction of a New Residential Unit (PLCH) and Construction of House (CH) loan purposes.
     8. Submit the following documents to Pag-IBIG office concerned:
        • Original Transfer Certificate of Title in the name of the applicant with annotated mortgage
        • DOAS with original RD stamp
        • New Tax Declaration in the name of the applicant
        • Updated Real Estate Tax Receipt (house and lot, if applicable)
        • Occupancy Permit
        • Assignment of Loan Proceeds
     9. Release of loan proceeds
     10. Start monthly amortization on the month immediately following loan take-out/final loan release.

Employers are mandated to match their employees’ monthly contributions with an amount equivalent to two percent (2%) of the monthly compensation of each covered employee.

For self-employed members, monthly contribution is equivalent to two percent(2%) of their monthly gross earnings.

Under the Pag-IBIG Overseas Program (POP) ,OFWs with monthly compensation of:
What are the benefits of Pag-IBIG Membership?

The Fund offers its members the following benefits:
What is the Pag-IBIG Provident Savings Program?

The Pag-IBIG provident savings program is a fast, easy and affordable way of saving for a member’s future needs.

What are the special features of Pag-IBIG Savings Program?

Pag-IBIG savings enjoy the following features:
When can a member withdraw his savings?

Withdrawal of Pag-IBIG savings is allowed upon occurrence of any of the following :

-in case of the member’s death, the Fund provides the legal heirs an additional P6,000 death benefit grant (DBG).