Availment Of Housing Loan

AVAILMENT OF A Pag-IBIG HOUSING LOAN (For Direct or Retail Loan Application) SERVICING UNIT – NCR HOUSING GROUP/MORTGAGE & LOANS DIVISION REGIONAL/SUB-REGIONAL OFFICE/MORTGAGE TAKE-OUT SECTION – Pag-IBIG INTERNATIONAL OPERATIONS GROUP (PIOG)

MEMBER-APPLICANT

STEP 1

STEP 2

Attend Loan Counseling ƒ Accomplish PLCQ ƒ If eligible, accomplish MSVS ƒ Submit accomplished PLCQ MSVS

and

If eligible, secure a Pag-IBIG Housing Loan Application form (HDMF H1-1) together with the checklist of requirements*

ƒ Counsel/screen member-applicant on the PagIBIG Housing Loan Program ƒ Provide Preliminary Loan Counseling Questionnaire (PLCQ) and Membership Status Verification Slip (MSVS) (HDMF H8-8)

Provide Pag-IBIG Housing Loan Application form (HDMF H1-1) and checklist of requirements

* Required Documents for submission upon loan application: 1. Housing Loan Application with ID photos of borrower (properly accomplished and duly notarized) 2. Income Tax Returns (ITRs) and BIR Form No. 2316 for the last two years immediately preceding date of loan application 3. Valid Certificate of Employment and Compensation (CEC) (for Pag-IBIG I & II)/ Employment Contract or Employer’s Certificate of Income duly certified by the employer (for POP members) (where applicable) 4. Latest Payslip (one-month) 5. Certified true copy of TCT/CCT/OCT by the Register of Deeds (latest title) 6. Location Plan and Vicinity Map 7. Photocopy of Updated Tax Declaration and Tax Receipt 8. Special Power of Attorney (for member/s abroad, SPA must be duly certified by the Philippine Embassy or Consulate in the country where the member is staying) 9. Medical Questionnaire and/or Full Medical Examination (For loans over P750,000 and for borrowers over 60 years old) 10.Proof of Billing Address

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MEMBER-APPLICANT

SERVICING UNIT – NCR HOUSING GROUP/MORTGAGE & LOANS DIVISION REGIONAL/SUB-REGIONAL OFFICE/MORTGAGE TAKE-OUT SECTION – Pag-IBIG INTERNATIONAL OPERATIONS GROUP (PIOG)

STEP 3

Submit accomplished HDMF H1-1 form together with the complete required documents

ƒ Check completeness of documents ƒ Request applicant to pay the P1,000 processing fee

STEP 4

Secure Payment Order Form (POF)

Issue Payment Order Form to member-applicant TREASURY – HEAD OFFICE/ CASH DIVISION - REGIONAL/SUB-REGIONAL OFFICE/PIOG

STEP 5

Pay the initial processing fee of P1,000 and upgraded monthly contribution (if applicable)

Issue Pag-IBIG Fund Receipt (PFR) (HDMF T1-1) NCR HOUSING GROUP/MORTGAGE & LOANS DIVISION - REGIONAL/SUBREGIONAL OFFICE/MORTGAGE TAKEOUT SECTION – Pag-IBIG INTERNATIONAL OPERATIONS GROUP (PIOG) Review/evaluate loan documents and conduct ocular inspection of the subject property 2

MEMBER-BORROWER

STEP 6

Receive the Notice of Approval(NOA) and sign the loan documents

STEP 7

Proceed to the BIR and present the Deed of Absolute Sale (DOAS) executed by the owner of the property and the applicant for the computation of documentary stamps and capital gains tax, and proceed to authorized banks for the payment of documentary stamps and capital gains tax. NOTE:

Authorized bank shall issue a receipt as proof of payment which shall later be presented to the BIR. The BIR shall then issue to the member-borrower a Certificate Authorizing Registration.

NCR HOUSING GROUP/MORTGAGE & LOANS DIVISION - REGIONAL/SUBREGIONAL OFFICE/MORTGAGE TAKEOUT SECTION – Pag-IBIG INTERNATIONAL OPERATIONS GROUP (PIOG) Prepare and issue the Notice of Approval together with the following loan documents: ƒ Promissory Note & Loan and Mortgage Agreement (PN with LMA) (HDMF H4-71) ƒ Certificate of Lot Acceptance (for lot purchase) ƒ Certificate of Lot/House Acceptance (for purchase of a residential unit) ƒ Certificate of House Acceptance and Completion (for house construction) ƒ Disclosure Statement on Loan Transaction

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MEMBER-BORROWER

STEP 8

ƒ Proceed to the Registry of Deeds (RD) for payment of transfer tax and registration fees relative to the transfer of title and annotation of mortgage ƒ Present the following documents to the RD: - TCT/CCT/OCT in the name of the seller - Deed of Absolute Sale (DOA) between the owner of the property and applicant - PN with LMA - Certificate Authorizing Registration (issued by BIR)

STEP 9

Proceed to the Assessor’s Office for the assessment of property, and secure new tax declaration in the name of the member-borrower.

STEP 10

Secure Occupancy Permit from the Local Government Unit’s (LGU’s) Engineering Office. This is applicable to the following loan purposes: Purchase of New Residential Unit, Purchase of Lot and Construction of House (PLCH), and Construction of House (CH).

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MEMBER-BORROWER

STEP 11

PROCESSING UNIT – NCR HOUSING GROUP/MORTGAGE & LOANS DIVISION REGIONAL/SUB-REGIONAL OFFICE/MORTGAGE TAKE-OUT SECTION – Pag-IBIG INTERNATIONAL OPERATIONS GROUP (PIOG)

Submit the required documents*

* Required Documents for submission upon loan approval: 1. Owner’s Duplicate Copy of the TCT/CCT/OCT in the name of the borrower with proper mortgage annotation in favor of the HDMF 2. Tax Declaration in the name of the borrower 3. Deed of Absolute Sale with R.D. stamp (for PLCH, DOAS shall cover lot only) 4. Promissory Note with Loan and Mortgage Agreement (PN with LMA) (HDMF H4-71) with original RD stamp 5. Certificate of Lot/House Acceptance (if not self-administered) 6. Certificate of Lot Acceptance (for lot purchase) 7. Updated Real Estate Tax Receipt 8. Certificate of House Acceptance and Completion (for house construction) 9. Disclosure Statement on Loan Transaction 10. Authority to Deduct Loan Amortization, if applicable 11. Occupancy Permit (upon loan take out)

Check completeness of documents

Processing of Request for Payment (RFP) and DV/Check

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MEMBER-BORROWER

STEP 12

Cash Unit-Technical Support Housing Group/Cash Division-/RO/Sub-RO/PIOG

Claim check

Release check

NOTE: The remaining processing fee of P2,000 shall be deducted from the loan proceeds.

NOTE:

HDMF shall release the take-out proceeds due the member-borrower within 5 working days from the date of submission of complete loan documents.

Pay monthly amortization STEP 13

NOTE: If payment of amortization is not thru salary deduction, issue 12 post dated checks (PDCs) upon receipt of loan proceeds.

PROCESSING TIME: ƒ Issuance of Notice of Approval (NOA) - 30 Working Days upon submission of complete loan documents ƒ Release of Take-out Proceeds – 5 Working Days upon compliance with the requirements stated in the Notice of Approval (NOA)

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