Philippines - Apply for Pag-IBIG Conversion to Full Risk Based Pricing (Re-Pricing)

Advertisement

Procedure

Apply In-Person:

1. To Apply for Pag-IBIG Conversion to Full Risk Based Pricing (Re-Pricing), the applicant has to approach the Pag- IBIG Fund office Link
2. An application form will be provided to the applicant by the concerned officer. Or the applicant has to download the application form from the following link
3. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
4. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
5. The applicant has to attach the photocopies of the required documents along with the application form while submitting.
6. Submit all the documents with the completed form to the concerned officer.
7. After receiving the application, the concerned authority will check the submitted application and document set. If all are in place, the application will be accepted.
8. All applications are processed within a reasonable time, having regard to the particular circumstances of each application, including the completeness of information and documents submitted to the authority by the applicant.
9. The authority may seek additional information from an applicant if this is necessary to assess the application. The authority does not need to deal further with an application until the applicant has provided this additional information.
10. This entire process can be completed within 30 days or as per the timeline advised by the respective department authority.

Advertisement

Required Documents

• Completed application form link
• Applicant identity
• Property documents

Office Locations & Contacts

Pag – IBIG FUND
Petron Mega Plaza
358 Sen. Gil J. Puyat Avenue, Makati City
(02) 8-422-3000
Email: [email protected]
Website link
Contact Details link

Eligibility

Housing loan borrowers, whose accounts were taken out under Circular No. 247 or earlier Circulars or were restructured under Circular No. 300 or earlier Circulars as of date of application, may avail of the FRBP Program; provided, the following conditions are met:

• The borrower's housing loan account is updated. However, borrowers whose accounts are in arrears shall be required to fully update their accounts before they are allowed to apply for the program.
• The borrower must be an active Pag-IBIG Fund member.
• A copy of the updated real estate property tax receipt must be presented and submitted at the point of application.

Fees

• The applicant has to pay the prescribed fee as per the authority’s request.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

• Application form link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• This entire process can be completed within 30 days or as per the timeline advised by the respective department authority.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
• Applicants must provide genuine information while applying for this procedure.

Required Information

Loan Particulars

• Property location
• Unit/Room No
• Floor
• Building Name
• Block No
• Phase No
• House No
• Street Name
• Subdivision
• Barangay
• Municipality/City Province
• State
• Country (if abroad) Zip Cod

Borrowers Data

• Name of the applicant
• Address
• Email
• Telephone
• Employee id
• Date of birth
• Gender
• Marital status
• Employer/ business particulars
• Spouse personal data

Need for the Document

• All borrowers whose housing loan accounts have interest rates more than the prevailing market rates may avail of the Full Risk Based Pricing (Re-Pricing) Program

Information which might help

The Conversion to Full Risk-Based Pricing (FRBP) Program seeks:

• To align interest rate policies in accordance with the Fund's Full' Risk-Based Pricing Framework;
• To encourage Pag-IBIG Fund borrowers to retain their housing loan accounts with the Fund; and
• To reduce the Fund's non-performing housing loans.

For more Information link

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Link

Others

RISK-BASED PRICING PROGRAM

• The housing loan accounts of eligible borrowers shall be charged with the prevailing Pag-IBIG Fund End-User Home Financing Program interest rates for their chosen re-pricing period.
• Interest rates shall be re-priced periodically depending on the chosen fixed pricing period of the borrower.
• Re-priced rates shall be applied on the borrowers nearest due date following the date of approval of his application for the Full Risk-Based Pricing Program.
• Interest rate setting shall be made semi-annually in accordance with the prevailing market rates.