Pag-IBIG Fund offers affordable housing loans and multi-purpose loans to its members in the Philippines. These loans can be a huge help for financing a home, unexpected expenses, or other financial needs. But how do you know if you qualify? Let’s dive into the eligibility requirements and easy ways to check your Pag-IBIG loan status.
Key Eligibility Requirements
To be eligible for a Pag-IBIG loan, you must meet the following basic criteria:
- Active Pag-IBIG Membership: You must have contributed to your Pag-IBIG Regular Savings for at least 24 months.
- Good Standing: Your Pag-IBIG accounts (housing loans, multi-purpose loans, etc.) must not be in default.
- Age: You must be below 65 years old at the time of loan application and less than 70 years old at loan maturity.
- Legal Capacity: You need to have the legal right to acquire and encumber real property.
- Proof of Income: You’ll need documents to demonstrate your ability to repay the loan.
How to Check Your Pag-IBIG Loan Eligibility
Here are several ways to find out if you’re eligible for a Pag-IBIG loan:
-
Virtual Pag-IBIG:
- Visit the Pag-IBIG Fund website (https://www.pagibigfund.gov.ph/) and access the Virtual Pag-IBIG Portal.
- Check your ‘Total Savings’ – this will give you a good idea of loan amounts you might qualify for.
-
Pag-IBIG Branches:
- Visit your nearest Pag-IBIG branch.
- Speak to a representative and request an assessment of your loan eligibility.
-
Pag-IBIG Hotline:
- Call the Pag-IBIG hotline at (02)8724-4244 for assistance.
Factors Affecting Your Loan Amount
- Total Pag-IBIG Savings: The more you’ve saved, the higher your potential loan amount.
- Income: Your income demonstrates your repayment capacity, impacting the loan amount.
- Existing Pag-IBIG Loans: Outstanding loans may reduce the amount you qualify for.