PAG-IBIG AFFORDABLE Housing Loan Financing The following are the excerpts from Home Development Mutual Fund (Pag-ibig) Circular No. 312 on Loan Purpose and Processes in acquiring a property (either house or lot or both) for Subdivision/Housing Projects, as guidelines on the Pag-ibig Fund Affordable Loan Financing Program. Section 2: LOAD PURPOSE The Pag-IBIG housing loan may be used to finance any one or a combination of the following: 2.1. Purchase of a fully developed lot not exceeding one thousand square meters (1,000 sq. m.), which should be within a residential area; 2.2. Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot, which may be: 2.2.1. Old or brand new; 2.2.2. A property mortgaged with the Fund; or 2.2.3. An acquired asset, which is disposed of through sealed public bidding, negotiated sale, or Rent-to-Own Program. 2.3. Construction or completion of a residential unit on a lot owned by the member; Section 3: PAG-IBIG MEMBERSHIP 3.2. Has a gross monthly income not exceeding Seventeen Thousand Five Hundred Pesos (P17,500.00). Gross monthly income is herein defined as basic monthly compensation and cost of living allowance. 3.6. Has no outstanding PAG-IBIG housing loan, either as a principal borrower or co-borrower.