Acquiring a house and lot through Pagibig Financing

Being in a real estate business has made me more confident in dealing with different people. From low income to elite Filipinos in our country, overseas Filipino Workers(OFWs), immigrant fellow Filipinos abroad and foreigners married to Filipinos. I am selling middle income housing projects with the price range of 1.5M to 5M and high-end housing projects ranging from 6M and up. When I was a newbie in this business I used to sell low income housing projects where most Filipinos apply their Pagibig or HMDF(Housing Mutual Fund Development) contribution to avail a housing loan. Pagibig Fund provides programs that help the needs of the members belonging to the bottom economic level dreaming to acquire their own house. Nowadays, there are so many pagibig housing projects ranging from 500,000 to 1M. So, if you are a minimum wage earner, you can now own a house and lot for as low as 3,000/month. But, the housing loan still depends on your gross monthly income or monthly contribution. So, if you are planning to buy a house and lot through Pagibig Financing, you must first fully understand their housing program. This is their website for your reference: www.pagibigfund.gov.ph.

You must also remember, in acquiring a house and lot through pagibig financing, you should be capable of providing their required documents needed to process your loan. If you don't have time to prepare the requirements then pagibig financing option is not for you.

Pagibig Housing Requirements:

1. Photocopy of Income Tax Return(ITR)- locally employed
2. Cerificate of Employment and Compensation(original, sealed and notarized)- consularized if OFW
3. Latest 3 months payslip
4. Valid Government IDs(photocopy of passport, PRC license, driver's license, SSS ID and etc.)
5. 1x1 ID pictures
6. Photocopy of Birth Certificate, if single
Photocopy of Marriage Certificate, if married
7. Proof of Billing Address(like meralco, PLDT and etc)
8. Photocopy of Company Valid ID
9. MSVS(couselling) slip
10. TIN Number
11. Photocopy of Job Contract(notarized & consularized) - OFW
12. Special Power of Attorney(SPA) - notarized and consularized - OFW
13. Photocopy of POP Book - OFW

Not all housing projects can be applied to pagibig financing especially if the price ranges from 2M and up. Other Financing options are: Bank Financing and Inhouse Financing.

I will discuss about Bank Financing and Inhouse Financing too. Just stay tune!