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No More Long Waiting Period for Your Pag-IBIG Fund Housing Loan

House and Lot Loan

With the news of Pampanga becoming the next BPO hub in the country, John, 32, immediately left his job in Manila to take his chances in the province. He then decided to buy a house and lot in Pampanga with his humble savings from his decade-worth earnings.


However, John found out his savings was not enough to purchase his dream home. But he is not worried though, since he knows he can apply for a housing loan from Pag-IBIG Fund. That way, he can make up for the needed amount to get his hands on his desired property.
Come application time, he visited the San Fernando branch to submit his housing loan requirements. He had to travel from offices to offices to complete his requirements. Not to mention he’s incurring expenses every time he prepares the needed documents. Little did he know that it will take a month for his loan to get approved and released.

After what seemed like forever, John’s real estate agent broke the bad news: the house and lot in Pampanga he was eyeing has already been sold. With all the long wait and the hassle, he realized his efforts were all for naught. He had to find another property again.

John is only one of the countless members of Pag-IBIG Fund who had endured the long waiting days (even months) of getting their housing loan approved. If you are planning to avail a housing loan but feel discouraged to apply because of the same horrors above, here’s some good news for you: Pag-IBIG Fund is cutting the process time for housing loan applications.

In a press release posted in Pag-IBIG Fund’s website last January 10, the Home Development Mutual Fund stated that it is now cutting the processing time from the previous 27 days to 20 days. This covers the application period and the release of proceeds.

With the enhanced procedure, housing loan can now be approved in 17 days after  submission of complete requirements. Furthermore, the proceeds of the loan can now be released in just three days after its approval.

According to Pag-IBIG Fund President and Chief Executive Officer Atty. Darlene Marie Berberabe, this commitment to enhance the process is in line with the thrust of the new administration to cut red tape. She furthered that Pag-IBIG Fund is continuously reviewing its procedures in order to improve public service.

Aside from the shortened processing time, the state-run lender is also reducing the number of housing loan requirements from the previous 14 to seven documents. Berberabe pointed out that these improvements are made for the benefit of Pag-IBIG members and the public.


Thanks to PAGIBIG management’s initiative, these improvements take you one step closer to buying your dream house and lot in Pampanga. So, what are waiting for? Prepare your requirements, head straight to the San Fernando branch and file your housing loan application now! 
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