Home Development Mutual Fund/Pag-IBIG Fund(HDMF)

25 October 2023 Dear REQUESTOR, This refers to your eFOI request received on 04 October 2023 via the eFOI portal of the Home Development Mutual Fund (Fund) where you requested for clarification on the requirements for housing loan thru Pag-IBIG. According to you, the developer is requiring you to submit Audited Financial Statement (AFS) as part of your housing loan application. You are inquiring further whether there is an exemption to submit audited financial statement since you are a micro-business earning less-than 1M annual gross sales. We deemed it proper to raise the matter to the Operating Unit Concerned (OUC) - the Housing Operations Support Unit (HOpS). Per the OUC, the AFS is deemed as an essential documentary requirement as proof of income for housing loan application for self-employed individuals. Nevertheless, self-employed individuals have various alternative proof of income options, which are determined by the specific housing loan type. Thus, any of the following documentary requirements can be submitted in lieu of the AFS, to wit: 1. Commission Voucher (1 photocopy) or Certification of commission received (1 original copy) reflecting the issuer’s name and contact details (for the last 12 months). 2. Bank Statements (1 original copy) or passbook (1 photocopy) for the last 12 months (in case income is sourced from foreign remittances, pensions, etc.) with authorization from the depositor to conduct bank verification indicating the following information (account name, type, number, opening date, depository bank, signature over printed name of depositor and details of credit investigator from Pag-IBIG Fund). 3. Notarized Lease Contract and proof of ownership or rights over the property subject of lease (if income is derived from rental payments). (1 photocopy). 4. Certified True Copy of Transport Franchise issued by appropriate government agency (LGU for tricycles, LTFRB for other PUVs, MARINA for sea transportation) and valid Official Receipt (OR)/Certificate of Registration (CR). (1photocopy). 5. Certificate of Engagement (HQP-HLF-111) issued by owner of business/person availing of the services. (1 original copy). 6. ITR BIR Form No. 1701 (1 photocopy) for fees on professional services, commissions or services rendered (for the last 12 months). NOTE: The applicant should submit ITR BIR Form No. 2307 (1 photocopy) to support/supplement the income document mentioned above. Please note the above options are in the alternative. For a comprehensive list of housing loan application requirements, please refer to the provided link. https://www.pagibigfund.gov.ph/forms_housing.html In compliance with Section 6.6.1 of the Anti-Red Tape Authority (ARTA) Memorandum Circular No. 2019-002, series of 2019 entitled Guidelines on the Implementation of the Citizen’s Charter in Compliance with Republic Act 11032, otherwise known as the “Ease of Doing Business and Efficient Government Service Delivery Act of 2018,” and Its Implementing Rules and Regulations, may we kindly request your thoughts or feedback on how we can improve your experience by filling out the Feedback Form in this link: https://forms.office.com/r/A652CzriXW Thank you. ATTY. JOSE ROBERTO F. PO Department Manager III, Legal Department and Deputy Compliance Officer