List of Pag-IBIG Loans for OFWs

Having a home is a symbol of financial independence and a significant achievement for everyone. And this is where Pag-IBIG loans for OFWs come in. Despite the various challenges that COVID-19 presented, more Filipinos were able to purchase a home last year. The government’s housing finance agency, the Pag IBIG Foundation, issued over a billion home loans.

Getting into homeownership can be a daunting task, especially since it involves a lot of money. However, with a home loan from the government-owned housing finance agency, Pag-IBIG, it can be easier than ever to make the purchase. One of the most flexible and affordable home loan schemes in the Philippines is offered by the government-owned housing finance agency. With a low interest rate of 3%, this home loan can be very affordable. In this guide, we will talk about the various steps that you should take to get approved for a home loan from Pag-IBIG.

List of Pag-IBIG Loans for OFWs

How Do Pag IBIG Loans for OFWs Work?

A home loan from Pag IBIG allows people to borrow up to 6 million for various purposes, such as buying a home or apartment, or for the construction or improvement of a home. Besides buying a home, this type of loan can also be used to fund other purchases, such as the purchase of land or a condominium.

Getting approved for a home loan from Pag IBIG can be a bit challenging. Aside from having to meet the necessary requirements, such as the minimum income and the number of documents required, it also takes a lot of energy and money to get approved.

Understanding the various factors that affect the approval of a home loan from Pag IBIG will allow you to make informed decisions when it comes to buying a home. Besides having to meet the necessary requirements, a home loan from the national housing finance agency also requires a credit and employment background check.

Eligibility for Pag IBIG SALARY LOAN Philippines

To qualify, you must:

  • be an active member of the Pag-IBIG Foundation at the application time;
  • have total fund savings of at least 4,800 or 24 months of membership savings contributions;
  • make at least one membership savings contribution within the last six months before the loan application date;
  • have proof of income;
  • have no defaulted Pag IBIG (housing or disaster loan) accounts on the application date.


Here are the  requirements for those interested to avail of Pag-IBIG’s salary loan:

  • Personal ID with photos and signatures;
  • Latest payslips equivalent to one month’s salary;
  • A duly completed Pag IBIG loan form 2022;
  • Access to the following employer information:
  • Signature of head of an office or authorized representative;
  • Company or employer name;
  • GSIS or SSS number;
  • Agency code and branch code.

Pag IBIG Salary Loan Online Application 2022

Applying for a Pag-IBIG salary loan is not a difficult process, but you should know what to expect. Here’s how:

  1. Download and complete the Pag-IBIG Multi-Purpose Loan Application Form;
  2. Email the form to your company’s human resources department, fund coordinator, or other authorized representative, along with photocopies of the front and back;
  • Valid ID;
  • Loyalty Card Plus;
  • Landbank card;
  • UCPB card;
  • DBP bank card;
  1. After receiving the application, your company’s representative will then email the details of the application to the appropriate fund department of the national government.
  2. You can also submit the documents for your multipurpose loan by email to the nearest branch of the national government’s housing finance agency, known as Pag IBIG.

Possible Loan Amount at the Pag-IBIG

The exact amount that you can expect to receive from the loan will depend on your contributions and the length of time that you have contributed to the organization:

  • monthly installment Allowable loan amount;
  • from 24 to 59 months, 60% of the total contribution;
  • from 60 to 119 months, 70% of the actual contribution;
  • one hundred twenty months or more 80% TAV contribution.

To calculate the monthly premium of the housing finance agency, use the formula below. It will take into account the compensation that you receive from your company and the contribution that you make to the organization.

Monthly Compensation x Employee or Employer Share.

For instance, if you earn around PHP 4,000 a month, your monthly contribution to Pag-IBIG is equivalent to PHP 80. On the other hand, your employer’s contribution is also equivalent to PHP 80.

You can also use the loan calculator that’s available online to determine the amount that you can borrow from the housing finance agency.

If you need to borrow additional money for the second loan, then you can use the amount that you have available to borrow from the housing finance agency. Most of the money that you can borrow will come from your employer contributions, accumulated dividends, and monthly contributions.

Even if you don’t have a virtual account with the housing finance agency, you can still check the status of your loan by accessing its various services. One of the most important steps that you should take is to create a new account to ensure that your conributions in the organization’s database are secure.

List of Pag-IBIG Loans for OFWs

The following sections provide the various advantages and disadvantages of using the housing finance agency’s loan programs.

Pag-IBIG Multi-Purpose Loan

If you’re planning on taking out a home loan, then you should read this section. First, it should be noted that Pag-IBIG is a government-owned housing finance agency that provides housing loans and wages to its members. It is the only public financial institution that also offers home loans to its members.

Although the housing finance agency is owned by the government, it mainly provides loans to private individuals who have completed the credit investigation process. Due to the lower interest rates that banks offer, they’re more flexible when it comes to terms and conditions.

Even if your loan amount is less than the housing finance agency’s, banks can still provide you with a competitive rate.

If you’re planning on borrowing up to a maximum of about 450,000 pesos, then banks can provide you with a better rate than the Pag-IBIG. In terms of processing times, banks are faster than the housing finance agency.

If the banks are able to provide you with a letter of guarantee within three to four weeks, then the Pag-Ibig can process your application. However, in that case, it usually takes around three to four months. One of the most important advantages of using the housing finance agency’s loan programs is its flexible payment terms. For instance, if you have a loan amount of 750,000 pesos, you can pay a monthly amortization of 5,600 pesos for 30 years.

One of the most flexible features of the housing finance agency’s loan programs is its ability to allow its members to pay their loan early. This means that they can get a credit of the excess of their original loan amount. Another advantage of this type of loan is that it allows its members to have a large amount of money at any time.

Pag IBIG Short Term Loan

The Pag-Ibig’s short-term loan program, known as the MPL, is designed to help its members with urgent financial needs. With this type of loan, members can get up to 80% of their regular savings within two days.

Short term loan

The MPL can also be used to finance other financial needs. For instance, if you need money for an immediate need, then the MPL can be a good option, such as for the following purposes:

  • Minor home improvement or home renovation.
  • Livelihood, business finance.
  • Education spending
  • Finance for gadgets and expenses for technology.
  • Payment of utilities and credit cards.
  • Vacation and travel expenses.
  • Car repair
  • Other needs.

Here are the requirements that you must submit to be eligible for a short-term cash loan:

  • Saved at least 24 monthly membership savings;
  • cannot apply for the MPL if you are withdrawing your monthly savings due to membership expiration unless you have paid 24 months of monthly savings after the withdrawal date;
  • can apply for an MPL if you have already accumulated 24 monthly savings, regardless of months;
  • Have made at least one monthly deposit within the last six months before the loan application date;
  • In the case of an existing Pag-IBIG home loan fund, the MPL/disaster fund account does not need to be in default;
  • Have received sufficient proof of income.

Pag-IBIG Payday Loan

A payroll loan is a type of loan that can be used to fund specific expenses, such as car repairs, medical care, and home improvements. It can also be used to pay for emergencies and other financial needs.

People tend to use this type of loan program or offer due to its lower interest rate than other types of loans. Re-lending or payment methods are also more accessible with this type of loan.

Pag-IBIG Fund Multi-Purpose Payday Loan

Before you apply for a loan, it’s important that you have a good understanding of the terms and conditions of the loan. The amount that you can borrow depends on your income and assets, and the monthly payment will be around 24 to 36. In addition to this, the interest rate will also be charged at 10.75% per annum. If you fail to make the required payments, the housing finance agency will impose a monthly penalty of 0.5%.

If you are genuinely interested in taking advantage of the loan, then you can apply for a payroll loan. The amount that you can borrow depends on your income and assets, and the repayment period can be as short as 24 months. According to the housing finance agency, their processing time can only take around 1-2 weeks.

Tips to Get Your Pag-IBIG Loan Approved

Tip #1: Maintain a stable job.

When it comes to applying for a loan through the PAG-IBIG program, your job stability and income are two of the most important factors that the agency will consider. Having a stable source of income is also very important to gain their trust and confidence.

Tip #2: Settle any overdue PAG-IBIG loans.

If you have an outstanding loan with the PAG-IBIG program, then your chances of getting approved are significantly affected. For instance, if you have a home loan that was previously canceled, defaulted, or subjected to a foreclosure, then you might not be able to get approved.

Before you apply for a home loan through the program, make sure that you have all of your existing loans paid off. Doing so will allow the agency to check if there are any outstanding payments.

Tip #3: Apply for a realistic home loan amount.

The maximum amount that a qualified PAG-IBIG member can borrow through the program is only up to a maximum of six million pesos. However, this doesn’t mean that they will be automatically approved for every request below that amount.

Before you start looking for a home loan, it’s important that you have a realistic financial situation. This will allow you to determine how much you can afford to pay in monthly installments.

Tip #4: Consider getting a co-borrower.

If you are not confident about your credit history and income, then getting a co-borrower might be a good idea. Having someone with a stable employment and excellent credit history can help boost your chances of getting approved for a home loan through the program. If you have a second-degree relative who is up to second-degree, you can also enlist their help in securing a home loan.

When it comes to getting a co-borrower, make sure that they are not only willing to help you out with the purchase, but they also want to be responsible for any debts that you make. Ideally, you should look for someone who is genuinely interested in helping you with the purchase and would give you their full support.


In the Philippines, the poverty rate is at 21.6%. In 2017, at least twenty-eight people died due to poverty. There is a need for government-backed housing finance, and one of the most reliable and effective options is the Housing Mutual Fund of the Philippines, also known as the HDMF.

Getting a loan from the Pag-IBIG Fund requires a lot of paperwork and verification. However, the HDMF is a mutual fund that can be accessed by any Filipinos who want to own their own home but cannot afford it. The HDMF has several loan schemes which are designed according to the goals of each borrower. These are all good options to get extra funds for various reasons and personal needs. If a borrower is planning to buy a house, he or she may apply for the HDMF’s housing loan scheme. This can be done through any of the HDMF’s partner banks, which include Metrobank, BDO and PNB.

We hope that you’ve learned more about Pag-IBIG loans and find one that suits your needs. If you have any questions, you may visit the Pag-IBIG website at

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