Pag-IBIG Overseas Program for Overseas Filipino

This is a savings program intended for overseas Filipino, immigrants and permanent resident s as well as seafarers who are interested to avail the savings program named as POP- Pag-IBIG Overseas Program. It is an investment scheme where you can save for your future and have an opportunity to avail the housing program. Every member of this program could loan up to P 3,000,000.00.

Membership under the Pag-IBIG Overseas Program (POP) shall be open to all Overseas Filipino Workers (OFWs) with valid visas or employment contracts. Likewise, it shall be open to Filipino immigrants and to Filipinos naturalized in other countries.

Below are the following questions on the Pag-IBIG Overseas Program (POP):

1. How can I register this program?

To register, accomplish and submit the Member’s Data Form (MDF), together with the required membership contributions. Also, attach a photocopy of the passport or contract, and a 1x1 ID photo.

2. Where can I register as a member?

Register in any of the Pag-IBIG Fund Offices nationwide, designated POP offices (click this) abroad or accredited/authorized Pag-IBIG coordinator.

3. How much is the contribution rate?

The contribution rate for all mandatory members, including OFWs will be as follows:

Monthly Compensation

1,500 and below = 1%(employee share) 2% (employer counterpart)
Over 1,500 = 2% (employee share) 2% ( employer counterpart)

Dividend Rate

Variable dividends from surplus earnings of the Fund shall be distributed annually to all POP members, to be credited to their Total Accumulated Values (TAV).

Membership Term/Maturity

The accumulated savings under the program may only be withdrawn at the end of five (5), ten (10), fifteen (15), or twenty (20) years at the option of the member upon membership registration. Withdrawal of contributions shall be in Philippine peso. Contributions in foreign denomination shall be converted to Philippine peso based on the prevailing US dollar exchange rate as of payment date.

Loan Availment

POP members may avail themselves of the housing loan benefit, subject to the provisions of the existing Consolidated Guidelines of the Pag-IBIG Housing Loan Program, through their immediate family members with the execution of a Special Power of Attorney (SPA), duly certified by the Philippine embassy or consulate in the country of their workplace. They can also avail of the Multi-Purpose Loan (MPL), subject to the existing guidelines of the MPL Program

If you have more questions about the contribution rate and related terms in the third question, see the list of POP DIRECTORY to contact the Pag-IBIG Fund officer.

4. Who may apply for a housing loan under the PAG-IBIG Overseas Program?

- An active member with at least 24 monthly contributions at the time of loan application
- Insurable, is not more than 65 years old at the time of application, and not over 70 years old at loan maturity
- Has the legal capacity to acquire and encumber real property
- Has passed satisfactory background /credit and payment/business checks by the developer and the Fund
- Has no outstanding PAG-IBIG housing loan, either as principal or co-borrower
- Has no Pag-IBIG housing loan that was foreclosed, cancelled, bought back or subjected to dacion en pago
- Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application

5. What are the applicable housing loan purposes?

The Pag-IBIG Housing Loan may be used to finance any or a combination of the following:

- Purchase of a fully developed lot not more than 1,000 square meters, located within a residential area
- Purchase of a lot and construction of a residential unit thereon
- Purchase of a residential house and lot, townhouse or condominium unit
- Construction or completion of a housing unit on a lot owned by the member
- Home improvement
- Refinancing of an existing mortgage loan with an institution acceptable to the Fund
- Combination of loan purposes

6. How long is the payment period?

The loan shall be repaid at a maximum term of 30 years, and should not exceed the difference between 70 years and the present age of the principal borrower. The housing loan should be fully paid when the borrower reaches the age of 70 years.


7. Can additional loans be availed of?

A qualified Pag-IBIG member who has an existing housing loan may avail himself of an additional housing loan for house construction or improvement of a house constructed on a lot purchased through a Pag-IBIG housing loan; or for home improvement.

8. When can a POP member’s savings be withdrawn?

A member or his legal heirs ( in case of death ) will be entitled to claim his total savings from the Fund, less any and all pending obligations the member may have with the Fund, upon termination of membership.

9. What happens to a housing loan when the borrower’s membership is terminated?

Once the member terminates his Pag-IBIG membership, the Fund shall automatically apply his total savings to the outstanding housing loan, regardless of the status of the account.
To have a clear understanding about the POP Program, don’t hesitate to contact the assigned Pag-IBIG officer in your location.

WE RECOMMEND 

 Pag-IBIG Overseas Program is entirely different from Pag-IBIG I. POP was a voluntary savings scheme for Filipinos abroad while membership under Pag-IBIG I is mandatory for Filipinos working abroad by virtue of RA 9679.

Sa ilalim ng Republic Act 9679 o ang “ Home Development Mutual Fund Law of 2009,” mandatory ang pagpaparehistro ng lahat ng overseas Filipino workers (OFWs) sa Pag-IBIG Fund bilang miyembro.

Planning to have your own dream house through Pag-IBIG is easy and accessible. Learn how to scout for your family's dream house even when you are miles away from home through  Pag-IBIG Home Matching Program for OFWs.

Preparing for the future is one of the priorities of our fellow kababayans who are working abroad. Pag-IBIG Mandatory Membership is a solid response to this need. 

Pag-IBIG Overseas Program is part of the goal of the government to reach out and give opportunity to our fellow Kababayans who are working abroad in providing affordable housing loans through this POP Program. There are some offices abroad and willing to assist your queiries regarding this program.

It is practical for every worker to save at least ten percent of salaries and it is also important that every worker could backup funds ready in times of emergencies and provide if they need something in the future. Overseas Filipino Workers (OFWs) can also save some part of their salaries for future needs.

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