House and Lot For Sale in the Philippines RNV Realty Co. - PAG IBIG FUND
  RNV Realty Co.

(HDMF) Home Development Mutual Fund

The Home Development Mutual Fund, more popularly known as Pag-IBIG Fund, was created on June 11, 1978 by virtue of Presidential Decree 1530, later amended by Presidential Decree 1752 and Republic Act 7742. Pag-IBIG is an acronym which stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno. To this day, the Pag-IBIG Fund continues to harness these four sectors of the society to work together towards providing Fund members with adequate housing through an effective savings scheme. In the area of housing, Pag-IBIG has released nearly P37 billion worth of housing loans to more than 61,000 members. The figure for 2009 may reach as high as P44.17 billion benefiting over  73,000 borrowers.  This is the highest total loan amount and the biggest number of borrowers for a single year in the Fund’s entire history.


The Pag-IBIG Overseas Program (POP) is a voluntary savings program which aims to provide Filipino overseas contract workers, immigrants and naturalized Filipino citizens of another country the opportunity to save for their future and the chance to avail of a housing loan of as much as Php 3,000,000.00.


Membership under the Pag-IBIG Overseas Program (POP) shall be open to all Overseas Filipino Workers (OFWs) with valid visas or employment contracts. Likewise, it shall be open to Filipino immigrants and to Filipinos naturalized in other countries.

Contribution Rate:
The POP member shall contribute monthly an amount equivalent to US $5. Should a POP member decide to apply for a housing loan and want to avail of a higher loanable amount, he would be required to upgrade/increase his membership contribution as follows:

Pag-IBIG Membership Contributions
POP                         Pag-IBIG I & II              Loan Amount

US $ 5                      200                               Up to P500,000
US $ equivalent         250                               Over P500,000 - P600,000
at point of
availment                  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

                                550                               Over P1,100,000 – P1,200,000
                                600                               Over P1,200,000 – P1,300,000

                                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

                                1,000                            Over P2,000,000 – P2,100,000

                                1,050                            Over P2,100,000 – P2,200,000

                                1,100                            Over P2,200,000 – P2,300,000

                                1,150                            Over P2,300,000 – P2,400,000

                                1,200                            Over P2,400,000 – P2,500,000

                                1,250                            Over P2,500,000 – P2,600,000

                                1,300                            Over P2,600,000 – P2,700,000

                                1,350                            Over P2,700,000 – P2,800,000

                                1,400                            Over P2,800,000 – P2,900,000

                                1,450                            Over P2,900,000 – P3,000,000

The upgraded membership contribution shall be incorporated as part of the housing loan
monthly amortization

Dividend Rate:
Variable dividends from surplus earnings of the Fund shall be distributed annually to all POP members, to be credited to their Total Accumulated Values (TAV).

Membership Term/Maturity:
The accumulated savings under the program may only be withdrawn at the end of five (5), ten (10), fifteen (15), or twenty (20) years at the option of the member upon membership
registration. Withdrawal of contributions shall be in Philippine peso. Contributions in foreign
denomination shall be converted to Philippine peso based on the prevailing US dollar exchange rate as of payment date.


POP members may avail themselves of the housing loan benefit, subject to the provisions of the existing Consolidated Guidelines of the Pag-IBIG Housing Loan Program, through their immediate family members with the execution of a Special Power of Attorney (SPA), duly certified by the Philippine embassy or consulate in the country of their workplace. They can also avail of the Multi-Purpose Loan (MPL), subject to the existing guidelines of the MPL Program.

-Pag-IBIG Overseas Program Office
-POP Overseas Offices
-Accredited Overseas Marketing Representatives
-Metro Manila and Provincial Offices
-Accredited Collecting Banks/Remittance Companies


-Original copy of POP Passbook
-Application for Provident Benefit
-Special Power of Attorney ( if applicable)


-Three (3) working days


-Remittance of Contributions may be made through our accredited collecting banks:

 PNB London (Savings Acct. No. 0725-219601-401)
 ABC UK (UKD 2000097)

 Asia Pacific
 PNB HK (Savings Acct. No. 0730-475270-501)

 United States of America
 Oceanic Bank (Savings Acct. No. 3700143)
 PNB New York (Savings Acct. No 1713)
 ABC Guam (Savings Acct. No. 5000-00355-4)

 Middle East
 BPI - Atrium (Savings Acct. No. 3124-0221-09) Speed cash
 ABC Head Office (Savings Acct. No. 1002-071759)

 Bank of Nova Scotia (Savings Acct. No. 2164-10)

 Remittance may also be made to any of the following banks:
 RCBC (Savings Acct. No. 8000-08787-5)
 PNB Makati Ave. (Savings Acct. No. 265706641-1)
 LBP (Savings Acct. No. 2204-008496)
 PCIB (Savings Acct. 5463-00176-8)



How can I buy a house thru Pagibig? I'm locally employed but not yet a Pagibig member.
-You must apply for Pagibig membership first to be eligible to buy a house thru Pagibig.

Who are eligible to borrow?

a). 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 24monthly contributions at the time of loan application:
b). Must be a member under the Pag-IBIG Overseas Program (POP) for at least two years.
c). 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;
d). Under the Pag-IBIG Overseas Program (POP), must have remitted an amount equivalent to his savings for at least 12 months.
e). Must not be more than 65 years old at loan maturity and must be insurable;
f). Must have the legal capacity to acquire and encumber real property and currently employed;
g). Must have passed satisfactory background/credit and employment/business checks of the developer and the Fund;
h). Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back or subjected to "dacion en pago"
i). Must have no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;
j). Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application.
k). A member whose multi-purpose loan is in arrears shall be required to pay his arrears over the counter to update his account.

2.  How can I join Pag-IBIG? I'm locally employed.

Employees who are not regularly employed can join the Pag-IBIG Fund on a voluntary basis.
a).  Accomplished two (2) copies of the Members Data Form (MDF).
b).  Submit the MDF form with all required supporting documents like:
            1. Certificate of Employment & Compensation
            2. Latest Payslip
            3. Company ID
            4. Two 1x1 picture 
             (bring all originals for authentication)
c). Present all verified and stamped documents to:
        Marketing and Enforcement Division
        Pag-IBIG Branch Office
        (where company pays contributions)      
d). Secure Payment Order Form (POF) from Marketing and Enforcement Division.
e). Proceed to Cash Division for payment of initial membership contributions (MC).

3.  How can I join Pag-IBIG? I'm an OFW.

Requirements in Applying  Pagibig membership for OVERSEAS FILIPINO WORKER (OFW)
     a). Latest Contract of Employment
     b). Passport or any valid ID
     c). Two 1×1 ID pictures
If a representative submit and pay member's contributions:
     d). Special Power of Attorney (SPA) - Consularized

4.  How much is the maximum loan amount for Pagibig housing loan?
A qualified Pag-IBIG member shall be allowed to borrow an amount up to a maximum of Three Million Pesos (P3,000,000.00).

5.   I am an OFW, where to apply for Pagibig Overseas Program (POP)?

Where can I register as a Pag Ibig memeber?
In the US, Canada and Middle East - Thru the Philippine Embassy or Consular Office nearest you or accredited/authorized Pag-IBIG coordinator. In the Philippines - Mail or submit the accomplished Member's Data Form to:
   Pag-IBIG Overseas Department
   6/F Atrium of Makati
   Makati Ave., Makati, M.M., Philippines 1200
   c/o Vincent N. Nery or Voltair M. dela Rosa

6.  What are the Steps in Applying Direct Pagibig Housing Loan with Profriends, Inc.?
a). Pay the reservation fee once you have choosen the block number and lot number of the house. Get the list of required documents.  An agent will assist you on this.
b). Attend a loan counseling session within 30 days after reservation date at Profriends' office either in Imus or Carmona, Cavite and accomplish a Preliminary Loan Counseling Questionnaire (HLA) and Membership Status Verification Slip (MSVS).  Your agent will giveyou the schedule of the counselling.
c). Pay your first equity and submit all required documents on the list, postdated checks and Pagibig forms given during reservation.
d). After paying full equity, (3-12 mos) wait for Pagibig loan take out (estimated 3 months). Only then can you move-in or transfer to your house.  

7.  I'm separated, is my spouse's signature needed in the Pagibig forms?

Yes.  You may ask her/him to sign a Special Power of Attorney for you to process the loan.

8.  I stopped paying my monthly contributions, can i still use my Pagibig in buying a house?

Yes.  Just reactivate your Pagibig membership.  Update contribution payments and pay reactivation fee.

9.  Can my fiance and I apply jointly for a Pagibig housing loan?

No.  Only married couple are allowed or relatives within the second civil degree of consanguinity or affinity.  Either you or your fiance will be the principal buyer.  Just change civil status as soon as you're married.

10.  Can I apply for ADDITIONAL LOANS even if I still have a housing loan?

Yes.  A member who is updated with his monthly contributions as well as his monthly housing loan amortizations as of date of application for additional loan shall be eligible for the said loan. A qualified Pag-IBIG member who has an existing housing loan may avail himself of an additional housing loan for the following purposes:
a). House construction on a lot purchased  or refinanced through a Pag-IBIG housing   loan.
b). Home improvement.

11. During amortization perod, Are we allowed to pay partial or full amount in advance?
Yes.  A borrower shall be allowed to prepay his loan in full or in part without prepayment penalty.
Accelerated payments – any amount paid in excess of the required monthly amortization shall be applied automatically to principal. The treatment of excess payment the borrower prefers must be noted on and properly disclosed in the Pag-IBIG Fund Receipt (PFR).

12.  When can I apply for another Pagibig housing loan?

A Pag-IBIG member may avail himself of a second Pag-IBIG housing loan provided he has fully paid his first housing loan, whether as a principal borrower or as a co-borrower.

13. What are the importance of Fire Insurance (FI) & Mortgage Redemption Insurance(MRI)?

The borrower shall be compulsorily covered by mortgage/sales redemption insurance and fire insurance.
Application of Insurance Proceeds: In the event of death, Pag-IBIG Fund shall apply the proceeds of the member’s mortgage/sales redemption insurance (MR/SRI) to his outstanding housing loan balance, and the excess, if any, shall be paid to the member’s designated beneficiaries. In case the insurance proceeds shall not be sufficient to pay the member’s housing loan balance fully, the Fund shall offset the remaining amount against the member’s TAV.

14. What is the maximum loan term?

The loan shall be repaid at a maximum term of thirty (30) years . The borrower shall be allowed to lengthen or shorten the loan term only once during the life of the loan.

15.  Who are accepted as co-makers if my salary did not meet the required amount?

A maximum of three (3) qualified Pag-IBIG members may be tacked into a single loan which is secured by the same collateral, provided they are related within the second civil degree of consanguinity or affinity.

16.  Will there be recomputation or repricing of my loan after 3 years?

Yes.  For loans over Four Hundred Thousand Pesos (P400,000.00) up to Three Million Pesos (P3,000,000.00), Pag-IBIG Fund shall reprice the interest rate of the loans every three years at rates based on prevailing market rates at point of repricing,

17.  How shall I pay my Pagibig housing loan?
a. Post-dated checks issued by the borrower, co-borrower or relatives up to the first civil degree of affinity or consanguinity, initially to cover the monthly amortizations. Staggered payments for an amortization/installment period shall be allowed  provided the amortization is paid in full on or before the due date.

18.  How much is my penalty if I cannot pay on due date?

The borrower who fails to pay the full monthly amortization and/or other loan obligations when due shall pay a penalty of 1/20 of 1% of the amount due for every day of delay.

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