1What is the Pag-IBIG Affordable Housing Loan Program?

The Pag-IBIG Affordable Housing Loan Program is our home loan facility especially designed for minimum and low-wage earners.

2What makes this loan program affordable?

The program allows minimum and low-wage earners to acquire their own dream homes as it carries the lowest interest rate in the market today – 3% annual interest - for the first 5 years of the loan term. With this program, minimum and low-wage earners need to pay a monthly amortization of as low as Php2,445.30* for a Php580,000 housing loan!

3What can I do with a Pag-IBIG Fund Affordable Housing Loan?

Here are the type of properties you may purchase and the various purposes where you can use your Pag-IBIG Fund Housing Loan:

  • Purchase of fully developed residential lot or adjoining residential lots not exceeding one thousand square meters (1,000 sq. m.);
  • Purchase of a residential house and lot, townhouse or condominium unit, which may be:
    • Old or brand new;
    • A property mortgaged with the Fund; or
    • Adjoining houses and lots / townhouses / row houses / condominium units.

    The subdivision project where said residential units are located must have complied with all the required facilities pursuant to BP No. 220.

  • Construction or completion of a residential unit on a residential lot owned by the borrower or a relative of the borrower;
  • Home improvement on the house owned by the borrower or a relative of the borrower, or on a property currently secured under a Contract-to-Sell (CTS), or Deed of Conditional Sale (DCS) between Pag-IBIG Fund and the buyer; or
  • Refinancing of an existing housing loan; provided, that the borrower must be regularly paying without any payment made beyond thirty (30) days past due for the last six (6) months from date of application.
4How do I qualify?

The Pag-IBIG Fund Housing Loan Program is available to all active Pag-IBIG Fund members, who have satisfied the following requirements:

  • At least 24 monthly savings. Lump sum payment of the required 24 months savings is allowed;
  • Not more than 65 years old, and not more than 70 years old maturity of the date of loan application;
  • Has the legal capacity to acquired and encumber real property;
  • Passed satisfactory background/credit and employment/business checks of Pag-IBIG Fund
  • Has no outstanding Pag-IBIG Fund Short-Term Loan (STL) in arrears at the time of loan application;
  • Has no Pag-IBIG Fund Housing Loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago. If with existing Pag-IBIG Fund Housing Loan account, either as principal borrower or co-borrower, it must be updated.
5How much can I borrow?

You may borrow up to Seven Hundred Fifty Thousand Pesos (P750,000.00). However, the loan amount you will receive shall still depend on either the actual amount you need, your loan entitlement based on capacity to pay or loan-to-appraised value ratio – whichever is lowest.

6What are the interest rates?

Eligible members shall be entitled to special, affordable interest rates following the table below. The 3% interest rate can be enjoyed for the first 5 years of the loan term while the 6.5% rate can be enjoyed during the first ten.

Details Gross Monthly Income
Income Cluster 1 (NCR) Up to P15,000 Up to P17,500
Income Cluster 2 (Regions) Up to P12,000 Up to P14,000
Loan Amount Up to the Socialized Housing Loan Ceiling Up to P750,000
Interest Rate* 3.0% 6.5%

*Applicable interest rates may change subject to the approval of the Management.

7What are the available loan repayment terms?

The maximum payment period for the loan is thirty (30) years.

8Does the Pag-IBIG Fund Housing Loan carry insurance?

Yes. Your Pag-IBIG Fund Housing Loan shall be covered by a Mortgage Redemption Insurance (MRI) or a Sales Redemption Insurance (SRI), whichever is applicable, as well as a Fire and Allied Perils Insurance (FAPI).

For details, please refer to this program’s circular found on our Circulars Page