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

09 August 2022 Dear MS. NERIZA D. OROLFO, This refers to your eFOI request received on 02 August 2022 via the eFOI portal of the Home Development Mutual Fund (Fund) wherein you inquired on the affordable housing loan program/s of the Fund. Our Office deemed it proper to raise this matter to and confer with the operating unit concerned – the Housing Operations Support Unit (HOpS). We are pleased to inform you that the Fund has an Affordable Housing Loan Program (AHP). The Pag-IBIG Fund Affordable Housing Loan is designed for minimum-wage and low-income members who earn up to P15,000 a month within the National Capital Region (NCR) and earn up to P12,000 per month outside the NCR. Under the loan program, Pag-IBIG Fund offers a subsidized rate of 3% per annum for socialized home loans up to P580,000. The following are the eligibility requirements for the AHP: • Must be an active member with the Fund. • Must have at least 24 mos. savings (lumpsum payment is allowed for HL borrowers). • Must have no Pag-IBIG housing loan that was cancelled, foreclosed, bought back or voluntarily surrendered. • Has no outstanding Pag-IBIG Housing Loan (HL) or Short-Term Loan (STL) in arrears at the time of application. Any account in arrears is required to be updated prior to application. • Must not be more than 65 years old at the date of loan application. For easy reference, the information on the AHP may be accessed through our official website at https://www.pagibigfund.gov.ph. You may check the checklist of requirements for Pag-IBIG housing loan application depending on the loan purpose you wish to avail. Below is a list of the basic requirements for applying under the Pag-IBIG housing loan in case you already have a subject property for the loan: 1. Duly accomplished Housing Loan Application with recent 1” x 1” ID photo of borrower/co-borrower (if applicable) (2 original copies) 2. Proof of Income: For Locally Employed, any of the following: • Certificate of Employment and Compensation (CEC), indicating the gross monthly income and monthly allowances or monthly monetary benefits received by the employee (1 original copy) duly signed by the authorized signatory of the employer. For system generated CEC, the signature of authorized signatory of the employer must be reflected in the said CEC. • Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application, with attached BIR Form No. 2316, duly acknowledged by the BIR or authorized representative of employer. (1 photocopy) • One (1) Month Payslip, within the last three (3) months prior to date of loan application with name and signature of the authorized signatory of employer. (1 certified true copy) • One (1) valid ID with signature (1 Photocopy, back-to-back) of Principal Borrower and Spouse, Co-Borrower and Spouse, Seller and Spouse and Attorney-In-Fact (if applicable); • Latest title in the name of the seller/s (i.e., Original Certificate of Title (OCT)/ Transfer of Title (TCT)/Condominium Certificate of Title (CCT) etc.) (2 complete photocopies of all pages of the title) • Updated Tax Declaration (House/s and Lot/s) classified as Residential and Updated Real Estate Tax Receipt/s as of the quarter immediately preceding the date of application (2 photocopies); • Vicinity Map/Sketch Map of the Location of Property showing landmarks (1 original copy). • Contract-to-Sell or similar agreement between the buyer and seller/s. (1 original copy). On the other hand, the Checklist of Requirements for Pag-IBIG Housing Loan Under Retail Accounts, the Housing Loan Application Form and the Housing Loan Application (For Co-Borrower Only) are all accessible through the Fund’s website. As an additional option, you may also want to consider browsing our available listing for Acquired Assets, which could be availed through the Pag-IBIG housing loan program. For your convenience, below are the basic steps for the availment of Acquired Assets: 1. Check the list of Properties under Negotiated Sale, Properties under Public Auctions (no discount), and Public Auctions (with discount) at the Pag-IBIG Acquired Assets section in the website. 2. Conduct a personal inspection of the desired property. 3. Register and submit the accomplished Purchase Order Form, along the with the following documents: • Offer To Purchase (OTP) Form - Individual • Copy of Valid ID • Certificate of Employment and Compensation and Certified latest One-Month Payslip 4. Submit your offer price for the subject property. The buyer who has the highest offered price on a specific property shall be considered the winner. 5. The winning offeror or buyer shall pay a non-transferrable/non-refundable reservation fee of Php1,000, 5 days from the receipt of the Notice of Award. 6. Submit the accomplished Deed of Conditional Sale and other related documents. 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: FOI Request Feedback Form (google.com) Thank you. Very truly yours, ATTY. JOSE ROBERTO F. PO Department Manager III, Legal Department and Deputy Compliance Officer