How to apply for HDMF Housing Loan

Here’s a quick reminder for those who want to apply for HDMF Housing Loan thru Abot-Kamay Pabahay program

1.  Pag-IBIG members must satisfy the following requirements to qualify for a
housing loan:

• Must be a member under the Pag-IBIG I, Pag-IBIG II or Pag-IBIG Overseas Program (POP) for at least twenty-four (24) months, as evidenced by the remittance of at least 24 monthly contributions at the time of loan application.
• A member, whether new or with existing monthly contributions that are still short of the 24-month membership requirement, shall be allowed to make lump sum payment based on the mandatory monthly membership contribution rates (both EE and ER share) to meet said requirement at point of loan application. Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the payment date. Said member shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.
• A member who has contributed for at least two (2) years shall be required to pay the upgraded contribution rates upon housing loan approval and onwards.
• For purposes of satisfying the residency requirement, the period corresponding to the Total Accumulated Value (TAV) applied earlier to a member’s outstanding loan (offsetting) shall be considered when counting the total number of monthly contributions, provided that the remaining TAV after offsetting does not fall below the equivalent amount of 24 monthly contributions.
• Not more than sixty-five (65) years old at the date of loan application and must be insurable; provided further that he/she is not more than seventy (70) years old at loan maturity;
• Has the legal capacity to acquire and encumber real property;
• Has passed satisfactory background/credit and employment/ business checks of the developer and Pag-IBIG Fund;
• Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;
• Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back, or subjected to dacion en pago;
• 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 arrearages over the counter to update his account.

2. A member’s loan entitlement shall be proportionate to his Pag-IBIG contributions (inclusive of the employer counterpart contributions), which shall be based on the following schedule:

Pagibig Membership Contributions

POP	Pag-IBIG I & II	Loan Amount
US $5	P200	Up to P500,000
	250	Over P500,000 – P600,000
	300	Over P600,000 – P700,000
	350	Over P700,000 – P800,000
	400	Over P800,000 – P900,000
	450	Over P900,000 – P1,000,000
	500	Over P1,000,000 – P1,100,000
US $ equivalent	550	Over P1,100,000 – P1,200,000
at point of	600	Over P1,200,000 – P1,300,000
availment (250-950)	650	Over P1,300,000 – P1,400,000
	700	Over P1,400,000 – P1,500,000
	750	Over P1,500,000 – P1,600,000
	800	Over P1,600,000 – P1,700,000
	850	Over P1,700,000 – P1,800,000
	900	Over P1,800,000 – P1,900,000
	950	Over P1,900,000 – P2,000,000

3. With the Fund’s move to make home financing more affordable to Pag-IBIG members, the loan-to-collateral value ratio was increased. At present, the following rates are in effect:

Loan Amount	With Buyback Guaranty	Without Buyback Guaranty / Retail Account
Up to P300,000	100.00%	100.00%
Over P300,000 to P750,000	100.00%	90.00%
Over P750,000 to P1M	95.00%	85.00%
Over P1M to P2M	90.00%	80.00%

4. The Pag-IBIG Abot-Kamay Pabahay Program shall bear interest at the following rates per annum:

Loan Amount	Interest rate
Up to P300,000	6.00%
Over P300,000 to P750,000	7.00%
Over P750,000 to P2,000,000	10.50%

5. The loan shall be repaid at a maximum term of thirty (30) years, and shall, in no case, exceed the difference between the present age and age seventy (70) of the principal borrower.

6. The borrower shall pay a Processing Fee of Three Thousand Pesos (P3,000.00), which shall be paid as follows:

• One Thousand Pesos (P1,000.00) upon filing of the loan application, which shall be non-refundable if the loan is disapproved;
• Two Thousand Pesos (P2,000.00) upon loan takeout.

For comprehensive guidelines of the “Abot-Kamay Pabahay” Program, check Pagibig Fund Circular No. 233