Pagibig Financing

Pag-IBIG Fund, Housing Loans, Mortgage, Membership, Foreclosures, etc

Top 5 Things Every OFW Should Know About The New Pag-IBIG Law of 2009

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With the introduction of the Republic Act 9679, otherwise known as the Home Development Mutual Fund Law of 2009 or simply Pag-IBIG Fund Law of 2009, a number of changes have been implemented to the existing rules of the Pag-IBIG Fund.

This article touches those affecting the Overseas Filipino Workers and those things that are most important to them.

1. Mandatory Membership

In the past, membership to the Pag-IBIG Fund by OFW and migrant Filipinos is only voluntary under the Pag-IBIG Overseas Program. But that’s not the case any more since the introduction of the Pag-IBIG Fund Law of 2009, which took effect last January 2010. All Overseas Filipino Workers (OFWs) and Filipino Seafarers are already required to become members of the Pag-IBIG Fund. Those who have been to the Office of the Philippine Overseas Employment Agency will tell you that they were made to pay for Pag-IBIG Fund Membership there. A lot of OFWs are not aware of this, but you who are reading this article should not be surprised any more.

(Please be concerned with your fellow OFW friends and share this article to them.)

2. Membership Application

overseas filipinoInstead of catching yourself unprepared for this thing at the POEA Office, it’s best if you are the one to enroll yourself to become a member of the Pag-IBIG Fund. To do this, please visit any of the following offices:

  1. If you are based overseas, please visit the Philippine Consular Office or Philippine Embassy in your host country.
  2. Locally in the Philippines at the following:
    • Any Pag-IBIG Fund Branch
    • Pag-IBIG Satellite Office at the POEA
  3. For all OFW concerns, don’t forget this office:

    Pag-IBIG Fund International Operations Group
    6th Floor, Justine Bldg.,
    Gil Puyat Avenue, Makati City

3. Contribution Rate

When it comes to the amount of contribution, Pag-IBIG doesn’t distinguish anymore between a locally based Pag-IBIG Member and that of an OFW Member. They are all under the Regular Pag-IBIG Membership likewise known as the Pag-IBIG I Membership. In other words, the contribution is only P 200 per month. And since there is no employer counter-part for OFW’s, you have to shoulder it all by yourself.

Take note that you may be asked to upgrade your contribution once you are approved a housing loan.

See also this article: “How Your Income And Contributions Affect Your Housing Loan Entitlement”

4. About The POP Membership

Some of you may have been a member of the Pag-IBIG Overseas Program (POP) already. Please bear in mind that POP is entirely different from Pag-IBIG I. While POP is optional for OFWs, Pag-IBIG I membership is mandatory since 2010 (refer to #1 above). Since the two programs are separate, your contributions to POP will not be merged with your Pag-IBIG I membership.

If you have been contributing for the POP Program, it would be to your advantage if you continue with it until it reaches maturity period where you are become entitled to withdraw your funds with its TAV.

Take note also that for other POP members, like the migrant Filipinos who are not OFWs, the membership to the Pag-IBIG I is only voluntary

( See also: Overview of Pag-IBIG Overseas Program )

5. Benefits of Pag-IBIG Membership

Basically, there are three benefits that all Pag-IBIG Members are entitled to.

  1. Housing Loan – this is the most popular and the most attractive benefit.
  2. Short Term Loan (Multi-Purpose and Calamity Loans) – a non-collateral loan that you can use for anything.
  3. Provident Savings – Pag-IBIG Fund’s Saving Program for its members.

For a detailed explanation of these benefits, please refer to this article: “Benefits of Becoming A Pag-IBIG Fund Member”.

~~~

“Top 5 Things Every OFW Should Know About The New Pag-IBIG Law of 2009” is written by Carlos Velasco.

Reader Interactions

Comments

  1. good evening po!pag ibi member po ako..balak ko pong i apply for house renovation un bahay ng mga in-laws ko.ako po ang mgiging principal borrower..pwede po ba un?(un title po ng lupa eh sknila nkapangalan).

    • Hi Admin, i would like to know if i can apply a housing loan for house renovation when the loan is not yet fully paid and is under my mom’s account??

  2. I am anxious to pay my amortization through On-line Bank Payment. I have read that you have this scheme or option already set up. Is this already working I bank with BPI in the Philippines. I am anxious to hear YES!

    This is one of the best tool that PAGIBIG would help itself and the borrowers for a convenient, safe and timely payment.

    Please take a look on this I believe this is VERY HELPFUL will save us all from a lot of trouble! PLEASE ANSWER MY INQUIRY THROUGH MY EMAIL IF WE CAN ALREADY PAY THROUGH BPI under its online- banking. Thank you very much

  3. you can also post your answer on line para marami po ang maka-alam at magpatronize sa ganong scheme. For sure marami ang matutuwa!

  4. Dear sir/madam,mula ng magbarko ako ay member na ako dyan sa pag-ibig at magmula noon since 1994 ay hindi pa ako naka avail ng kong ano or naka loan manlang, at ngayon ay gusto kong mag loan ng pabahay sa pamagitan ng pag-ibig ko at gaano katagal ba iyon dahil malapit ulit akong umalis at bago ako umalis ay gusto kong malaman para iwan ko lang sa asawa ko okay ba yon? may i know your response thanks in advance,,,,,,,

  5. Good day, I would like to know when I can stop paying Pag Ibig? Is it after 5 years of paying every month or I can pay 1 payments only equivalent to 5 years?

  6. Hello po.isa po akong existing PAGIBIG member since June1995-October 2004,gusto ko po sanang magtanong sa inyong opisina patungkol sa aking outstanding multi purpose loan balance noon bago ako mangibang bayan kung paano ako makakapagbayad kasi natigil po ang contribution ko at at gusto ko rin po sanang magtanong kung pwede po akong maka avail nang housing loan dahil nasira ang aming buong bahay sa kalamidad na dumaan sa Albay noong 2007.Sana po ay makatanggap po ako nang kasagutan sa aking katanungan.Maraming salamat po.

  7. Good evening,
    I already post my comment but until now there is no reply from PAG-ibig.
    Please read my comment again:
    Why the Pag-ibig member required to pay the equity of almost 1/3 of the total amount when you apply loan from the developer, or you should start your house before pag-ibig approve your loan base on the progress. The pag-ibig member apply for loan because we don’t have money. How can we avail housing loan in this kind of Pag-ibig policy.

  8. hello admin. I’m a member since 1997 sa pilipinas local job, then natigil po ako nang 5years on contribution at nag abroad, now naging active na po ulit ako en title po ba ako mag loan after six months of active contirbution as a OFW. on 500php. bracket loan.
    thanks.
    please response it very helpful to me. I

  9. hi good day po admin.. tanong ko lang po na kung magloloan ako ng halagan 300,000 peso pwedi ko po bang bayaran sa loob ng dalawang taon? tama po ba ang 6%?ang aking mababayan ay 10,636.95 peso per month kasama na po ang interest?..kailangan ko po ang imyong sagot..kc uuwi po ako ngaung march23,2012…salamat po…

  10. Hi, just want to express my disappointment with regards to application for housing loan. I attended the seminar 31st of January 2012 in Cabanatuan City even though in your website you advertise that seminar is no longer necessary to apply for a loan. I have all the initial documents needed then I submitted to them plus the SPA. I was told to follow-up after 3-4 weeks. It took my sister another 2 weeks before they said to her that I still miss 12months payments! How come? When June 2011 I paid 24 months in full in Macau. It has been 9months and my record has not been updated? wow! talking about lazy people in the office? My sister was told that once I have updated my payment they will re-apply for my loan, which means another 1 or 2 months wait for me when it wasn’t my fault that they have not updated my record! It’s unfair! I deserve to use the money I paid.
    If you could explain to me how this things happened and what can we do with it because I have wasted 6 weeks waiting for nothing and where’s my money gone? thank you.

  11. @Michelle:
    Thanks for your feedback.

    First off, we never advertised on this website that the Seminar is not necessary. Please don’t confuse this website with the others with similar topics. You may have gotten that information from another website, not this one.

    Secondly, please address your question at the particular branch where you applied for the housing loan.

    @mhel:
    If you are applying a real estate loan with that amount and loan term, it would
    probably be good if you consider the zero-interest offered by most developers.

    @Greg:
    You need to be active for at least 24 months by the time you applied for a loan.

  13. hi admin… paano po kung lupa lang muna ang gusto kong bilhin worth of 200,000 peso.. din babayaran ko po ng dalawang taon?.. then gaano po ba katagal ang processing pag nag loan?.. kc saglit lang po ang bakasyon ko sa pinas..at babalik din ako agad d2 sa abu dhabi…pwedi po ba na d2 ako mag paprocess ng mga requirements ko kung sakaling makapag loan po ako?… maraming salamat po…happy easter……..

  14. Godafternoon po, Iam a resident here in Japan. Kailangan po ba talagang sumusweldo ng atleast 75k a month pra ma avail ang maxim loan? Kc po sa katulad ko pong nanay na nagwowork dito sa Japan, hindi ako makakapag fulltime job pra kitain ang 15 lapad equivalent to 75k pesos. 8-10 lapad lang po monthly ang sweldo ko 5hours a day ang work ko.Pero kaya ko pong magbayad kung maa avail ko ang maximum loan na maghuhulog ng 1,4ook monthly.Tinatanong ko lang naman po baka meron kayong consideration pra sa amin.Maraming salamat po and more power.

  15. wala na po bang ibang option ang capacity ng isang member pra makapag bigay ng proof na capable syang makakuha ng maximum loan? Sa monthly salary lang po ba ang pinagbabasehan? Maraming salamat po ulit.

  16. @Celeste:
    Please read this for the Income Requirements:

    https://www.pagibigfinancing.com/articles/2011/how-your-income-and-contributions-affect-your-housing-loan-entitlement/

    Remember, that if you don’t qualify for a bigger loan, then maybe you should take a smaller loan, right?

    @mhel:
    Of course, you can loan that amount. And since you are moving back abroad, it’s best if you have a representative here
    who will take care of your loan application on your behalf.

  17. Good day! i would like to ask about the Housing program (Loan) for OFW, under POP. can i apply for a housing loan? I am a member of POP for 3yrs now, and paying my contributions every time i am in the Philippines. My inquiries is about the housing loan that is not a brand new house. i want to apply for pag ibig housing loan. i have a target house and lot in Pateros, Metro Manila. and the owner of the property is my relative. is it possible to have that thru POP? I am a OFW for 7years now. and trying to find a house for my family in Metro Manila. and until now we’re still renting a room. Thanks. please give me some informations about getting my own house.

  18. Hi Admin,
    I’m member of POP but contributed only last Dec. Have not paid again since Dec.
    I need to take-up a loan for balance payment of my condominium unit by April 2013. Amount would be 1.7M.
    Pls. advise if I can pay 24months lumpsum to avail of the loan by Apr.2013?
    What are the required documents for condominium units?
    Thanks,
    Carol