February 27, 2009

House Construction Loan From Pag-IBIG

A reply by Simarun on a forum topic at Sulit on Pag-IBIG Housing Loan caught my attention and I am posting it here in its entirety:

i applied for a house construction loan sa pagibig, started last march and notice of approval was granted last august. It also took me around 50K to complete all requirement bago nirelease yung 1st check. sa akin na nakapangalan yung lot when i applied.
some requirements after the seminar at pumasa ka sa evaluation:
- bldg plans
- bldg permits
- tax clearance/declaration
- mortgage/chattel ba yun? (from registry of deed, mga 5K din)
- Doc stamp/Tax declaration (around 5K)
- notary of application (1% of loan amount)
- katakut-takot na paghihintay at pabalik balik
- etc, etc, etc.
4 gives ang check na ibibigay (30-30-30-10%) and may interest pa pag natagalan bago mo pina-inspect after the 1st, 2nd or 3rd release). The 4th release na 10% is ibibigay pag nakuha mo na yung occupancy permit (gastos uli) at nabayaran yung bagong tax declaration.

From the above reply, the salient points are scaring me!
-Processing took almost 5 months
-Processing fees cost P50,000
-Requirements include building plans and permits, tax declaration etc etc.

If you have any relevant experience on this topic, kindly share it here.


  1. Hi.Thanks for sharing this.Nakakatakot naman at super hirap pala.im an OFW's wife who just recently acquired a titled lot.plan sana namin ipafinance ang house construction sa Pag-ibig.Have you started yours yet?How was it?

  2. hi. ako din im still on the process of approval. bale nasubmit ko na lahat lahat ng hininge nila.parang every week kc tumatawag sila sa akin at kelanagan na naman u submit ung kelangan nila (note: all the requirements listed for their house construction were already submitted).
    may question lang ako, kunwari 600k ung loan ko. they are requiring me to have an equity of 30 percent prior to first release. if i have accomplished the 30% equity, first release ako, then second and third. before they give the final release dapat tapos na ung construction right? matagal ba ang process ng pagkuha ng occupancy permit? thank you.

  3. Hello! Ask ko lang po, kelan nag start ung monthly mo sa pagibig? right after po b ng nakuha mo ung first check? Tnx :)

  4. @paperball25, hindi pa ako nag apply ng house construction loan. we wanted to pay off na sana kasi the whole loan e.

  5. When variable interest rates raise a borrower with a fixed interest rate is relatively better off because their rate will remain unchanged.Learn more about Low Doc.

  6. magkano po ang naloan mo for house construction?

  7. hi sa design po pa may policy sila residential commercial kc ang balak ko along the h way kc yun target place ko tnx.

  8. sa bldg plant how much nagastos mo complete na ba yun? dis coming july mag tataas daw sila ng loan and the bababa ang monthly payment.

  9. So you need to have a lot title. Pero pwede bang isabay yung pag paprocess nang title transfer at saka contrsuction loan??

  10. Hi... ano po tinitingnan ng pag ibig pag magpapa inspect n po kayo???and need po ba pakita s kanila receipts ng nagstos sa materials???