The Latest Information on the PAG-IBIG Overseas Program (POP)

The following is the latest information on the Pag-IBIG Overseas Progam known as "POP". It should be of interest to all Filipino's who work overseas.

If anyone desires more detailed information on this excellent program in the Philippines, please e-mail me at marshrealestateagency@yahoo.com. I would love to assist any of our great OFW's and Balikbayan's who are sacrificing so much for their families and the Philippines.

GOD BLESS ALL OF YOU

PAG-IBIG OVERSEAS PROGRAM

What is the PAG-IBIG Overseas Program (POP)?

The PAG-IBIG Overseas Program is voluntary savings program which aims to provide Filipino overseas contract workers, immigrants, permanent residents and seafarers the opportunity to save for their future and to avail themselves of a housing loan of as much PhP2,000,000.00.

Who are eligible to become members of the PAG-IBIG Overseas Program?

Any Filipino who works overseas (OFW), or as an immigrant, permanent resident or seafarer may enlist as a member. 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.

How much is the contribution rate?

A POP member shall contribute monthly an amount equivalent to US Dollar ($5.00). Should he decide to apply for a housing loan and wish to avail of a higher amount, he would be required to upgrade his membership contribution. The upgraded membership contribution shall be incorporated as part of the housing loan monthly amortization.

How much dividend will the savings earn?

Variable dividends from the Fund's surplus earnings shall be declared annually to all POP members, to be credited to their Total Accumulated Value (TAV) or savings.

When can the POP savings be withdrawn?

The accumulated savings under the program may only be withdrawn at the end of 5, 10, 15 or 20 years, depending on the membership term opted by the member upon registration.

Who are eligible to apply for a housing loan under the PAG-IBIG Overseas Programs?

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