Pag Ibig Loan

Last update 27.05.2024
PH - Digido


Loan Amount 10 000 - 25 000 php
Loan period 1 - 6 mo.
Minimum age 21 year
Interest rate 143 %
  • Get your first loan with 0% interest

  • Payout to your account within 4 minutes

  • Don't require guarantors or guarantee deposits

PH - Loanonline


Loan Amount 500 - 25.000 php
Loan period 3 - 12 mo.
Minimum age 20 year
  • Quick response time

  • Borrow money anytime anywhere

  • Competitive interest rates

PH - Finbro


Loan Amount 1.000 - 20.000 php
Loan period 12 - 12 mo.
Minimum age 20 year
  • 0% interest on first loan

  • Fast response on SMS

  • No guarantor nor a payslip

Pag Ibig Loan Products & What you Need to Know

Building your dream home is quite fulfilling. However, one of the main hindrances to achieve your dream home is your finances. Sometimes, no matter how good our plan is, unforeseen circumstances may affect the budget we have already set. Good thing the government owned and controlled corporation who administers affordable shelter financing for Filipinos or Pag Ibig loan has a lot of loan products that could help us achieve our dream home.

The Pag-ibig loan products are the perfect solution for those who struggle to find financial assistance. So they achieve the home they dream of. All members who have at least 24 months of contribution and are below 65 years old at the time of loan application are eligible to avail these loans. The application process is simple, and can be easily applied through online. Read further below to know how to apply Pag Ibig loan and the Pag Ibig loan requirements.

Pag Ibig Loan

What is Pag Ibig?

Pag-IBIG is an acronym which stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno. It is also known as HDMF or Home Development Mutual Fund which is a government owned and controlled corporation. They are under  the Department of Human Settlements and Urban Development of the Philippines and is responsible for the administration of the national savings program and the affordable shelter financing for the Filipinos.

They were founded through Presidential Decree No. 1530 signed by President Ferdinand E. Marcos last June 11, 1978. It was mainly to answer the need of savings program and affordable housing financing. Its main function is to become a provident fund encouraging Filipinos to save. In March 1979, the fund was administered by National Home Mortgage Finance Corporation or NHMFC. Then in December 1980, HDMF was created through the amendment of Presidential Decree No. 1752.

Today, Pag IBIG has a total of 113 branches nationwide and 20 overseas posts. In 2018, Pag IBIG members reached a total of 14.02 million where 10.54 million are private workers, 2.12 million are government employees, 1.06 million overseas Filipino workers (OFWs), and 300,000 other working group. Also, the interest rate for housing loan is the lowest at 5.375% for regular and 3% for socialized housing. Other than these they also offer Pag IBIG multi purpose loan and calamity loan are the short term loan Pag IBIG members can avail.

Pag IBIG Loan Products

Being mandated to become a savings or provident fund of Filipinos while providing affordable housing financing, Pag IBIG also has other different loan products that members can avail. There are the short term loans which are multi purpose loan, formerly pag ibig salary loan and calamity loans, then the long term loan which is the housing loan. Lastly is the provident fund, or more known as the Pag IBIG MP2. Read more below to know how to apply for Pag IBIG loan.

Short Term Loans

  • Pag-IBIG Multi Purpose Loan

The Pag IBIG fund multi purpose loan or MPL is a cash loan which mainly focuses on giving immediate financial assistance. A member can avail up to 80% of their regular savings which can be processed for as fast as 2 days. However, only those who have completed the 24 months of contribution. The multi purpose loan pag ibig process is easy. This product was formerly the pag-ibig salary loan which merged with the mpl the agency offers.

First, you will need to fill up the MPL application form, and submit it to any branch nearest you or where you are registered at. After submission, Pag IBIG will be informing you if your application is approved or if you can already claim your net proceeds through a text message or email. The loan is payable for 24 months with 10.5% annual interest rate. If you wish to apply for salary loan pag ibig, then you should apply for this.

  • Calamity Loan

The Calamity Loan is a seasonal type of loan Pag Ibig offers. It is usually offered to members whose areas of residence under a state calamity or those who are affected by disasters of the like. This loan product aims to aide the financial needs of members who are affected by the calamity. Just like the MPL application process, applying for a calamity loan is easy.

You will need to accomplish and submit a Calamity loan application form with the required supporting documents. Then wait for an approval confirmation through text or email. This product can be paid for 24-36 months with an annual interest rate of 5.95%. The great thing is, the first payment is deferred.

Housing Loans

Since HDMF’s first mandate is to provide affordable shelter financing, one of the loan products is the housing loan. You may use the housing loan for several home related purchases like the ones listed below:

  • Purchasing residential lots or adjoining lots that do not exceed 1,000 square meters along with the transfer cost
  • Purchasing a residential house and lot, townhouse, condo units that may be old, new, a Pag IBIG fund mortgaged property, or adjoining including the parking slot and transfer fee
  • To finance the construction of your house
  • To finance your house renovation
  • To refinance your existing house loan;
  • or a combination of all these purposes.

Although compared to the short term loans, the housing loan has quite a number of requirements and a longer waiting time for approval. Further, the loan term is usual at 25-30 years with an interest rate depending on the cost of the loan you are applying for. The term length minimizes the amount of your monthly amortization which will not hurt your pocket. You can read more about pag ibig housing loan here.

Requirements to avail Loan

For those who are wondering how to apply for pag ibig loan, one of the things you need to consider are the requirements they need. For the multi purpose loan, you will need the mpl form, valid ID, proof of income which will vary for members who are employed, self-employed, and for overseas Filipino workers. In addition, you will need a bank account where your loan proceeds will be disbursed.

The requirements for filing a calamity loan is similar to the ones needed for the multi purpose loan. Except for the additional requirement that will be the proof if your area is indeed affected by a calamity. For farmers, certification from the Municipal Agriculture Office is need, while for business or market vendors need a certification from the Market Vendors Association or the Municipal Mayor. Lastly, for members whose family member is affected with certain illnesses due to the calamity will need a Medical certificate from the doctor.

Requirements for the application of housing loan depend on which purpose of your application. The common requirements across the purposes are two copies of housing loan application. Along with it should be the recent ID of the borrower and co-borrower. Then the accepted proof of income, a copy of valid ID of the principal and spouse, co-borrower and spouse, seller. Then the spouse, developer’s authorized representative, and attorney-in-fact IDs that is photocopied back to back, whichever is applicable. Lastly, you will need the notarized borrower’s conformity if your are purchasing through a Pag IBIG accredited developer.

How to apply Pag IBIG loan online?

After the pandemic hit a lot of agencies decided to open a virtual version of the services they offer. One of the agencies is Pag IBIG. They recently launched Virtual website which allows you to access the services they offer like applying for a pag-ibig loan online. Aside from loan application, you can also pay your loan and calculate your net proceeds.

A lot of people ask how to loan pag ibig. The application process for online pag ibig loan is easy. It just requires a few clicks, and your pag IBIG loyalty card where your net proceeds will be deposited at. Approval for the loan and the status of your application can be seen in the website as well. Online loan application for short term loans and housing loan are both available in the virtual pag-ibig website. You just need to have all the needed requirements uploaded in the website, and fill up the application fully and correctly. That is simply how to loan in pag ibig.

Tips when availing Pag IBIG Loan

Generally, getting loans need to be thoroughly thought of as they are major decisions in everyone’s life. One of the main thing a borrower should consider is the amount of amortization they will be paying, and for how long. Borrowers need to consider this as this is one of the things they will be dealing with after they receive the money they borrowed. Although the loan providers will check your capability to pay, you might also be losing money for your other expenses.

Also, getting a loan only when necessary is very much advised. This is to prevent yourself from getting unnecessary expenses and end up getting more debt to cover the other. This is not only for how to apply loan in pag ibig but from other providers too. For those who are wondering about pag-ibig salary loan online application 2021, they have combined it with their consolidated loan and has become multi purpose loan. Anyone who wanted to apply for it can apply for a multi purpose loan instead.

At any rate, the Philippine government has indeed achieved their goal of providing Filipinos a low cost housing loan which is affordable and accessible to majority of Filipinos. This has greatly helped the citizens to achieve the home they have always dreamed about. Despite being long term, the low monthly amortization can be easily afforded. Both the low to middle class families as long as they have a stable source of income.


FAQ: Pag Ibig Loan

How to loan in pag ibig?

Applying for a pag ibig loan is easy, you can apply both online and through their offices. You just need to fill out the necessary forms and submit the requirements.

Pag Ibig Loan

Pag IBIG or agtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno was established in 1978. Its main purpose is to provide Filipinos with an affordable house financing. They have multiple kinds of products which you can avail to achieve your dream home.

These products are the short term loan consist of multi purpose loan or formerly the salary loan, along with this is the calamity loan. While the other one is the housing loan. All members of Pag-IBIG is eligible as long as they have paid an equivalent of 24 months contribution and is not yet at 65 years old at the time of application. Read more of our article to know more, and how you can avail the loan.


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