Six Steps You Must Do Before You Apply a Pag-IBIG Housing Loan (Finish-user Financing)


The easiest way to achieve something you aim for your housing loan plan is to gather and research pertinent information so that throughout the process in working out your goal will go smoothly and systematically. Listed below are the steps that you need to consider before you put much time and effort in your Pag-IBIG Housing Loan (Finish-user Financing).

1.    Attend financing counseling session in the Pag-IBIG office and achieve a Preliminary Loan Counseling Questionnaire, Housing Application for the Loan (HLA) and Membership Status Verification Slip (MSVS). You need to get Record of Needs if you are already eligible to process your loan.

2.            Submit HLA with complete needs, and pay for processing fee of P1, 000 (non-refundable).

3.    Receive Notice of Loan Approval/Letter of Guaranty and sign loan documents.

4.  Go to the next:
a. Bureau of Internal Revenue for payment of documentary stamps and capital gains tax
b. Registry of Deeds for change in the title and annotation of mortgage

5.  Submit the next documents to Pag-IBIG for that discharge of loan proceeds:

a. Original Transfer Certificate of Title (TCT) within the title from the applicant with annotated mortgage.
b. DOAS with original RD stamp.
c. New Tax Declaration within the title from the applicant
d. Up-to-date Property Tax Receipt (for house and lot, if relevant)
e. Occupancy Permit (guaranteed from LGU Engineering Office, if relevant)
f. Assignment of Loan Proceed

6.  Spend the money for first monthly amortization around the month right after the loan take-out/final loan release.

You are now on your way to achieve your goal to be one of the Pag-IBIG members who will give a success story. It is your determination to have it. All you have to do is to put close attention on the suggested steps so that you will not be confused and will lead to failure.