How To Avail Pag-IBIG Housing loan?
Pag-IBIG - Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno
HDMF- Home Development Mutual fund
www.pagibigfund.gov.ph
HDMF- Home Development Mutual fund
www.pagibigfund.gov.ph
ELIGIBILITY / H0W TO AVAIL PAG IBIG HOUSING LOAN?
☑ Active member with least 24 months savings
☑ Not more than 65 years old at the date of loan application and is not more than 70 years old at the date of loan maturity
☑ Legal capacity to acquire and encumber real property
☑ No Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
☑ If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated
What can I do with a Pag-IBIG Fund Housing Loan?
The Pag-IBIG Fund Housing Loan allows you borrow up to Php6 million to purchase a residential lot, a house and lot or a condominium unit. You may also secure a loan for house construction, home improvement or renovation or even to refinance an existing housing loan.
Here are the type of properties you may purchase and the various purposes where you can use your Pag-IBIG Fund Housing Loan:
How much can I borrow?
You may borrow up to Six Million Pesos (P6,000,000.00). However, the loan amount you will receive shall still depend on either the actual amount you need, your loan entitlement based on capacity to pay or loan-to-appraised value ratio – whichever is lowest.
What are the interest rates?
Now, more than ever, is the best time to apply for a Pag-IBIG Fund Housing Loan as it carries its lowest-ever interest rates! The interest rate shall be based on your chosen re-pricing period under our Full Risk-Based Pricing Framework.
What are the available loan repayment terms?
The maximum payment period for the loan is thirty (30) years.
Does the Pag-IBIG Fund Housing Loan carry insurance?
Yes. Your Pag-IBIG Fund Housing Loan shall be covered by a Mortgage Redemption Insurance (MRI) or a Sales Redemption Insurance (SRI), whichever is applicable, as well as a Fire and Allied Perils Insurance (FAPI).
SOURCE:
https://www.pagibigfund.gov.ph/FAQ_HL.html
☑ Not more than 65 years old at the date of loan application and is not more than 70 years old at the date of loan maturity
☑ Legal capacity to acquire and encumber real property
☑ No Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
☑ If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated
What can I do with a Pag-IBIG Fund Housing Loan?
The Pag-IBIG Fund Housing Loan allows you borrow up to Php6 million to purchase a residential lot, a house and lot or a condominium unit. You may also secure a loan for house construction, home improvement or renovation or even to refinance an existing housing loan.
Here are the type of properties you may purchase and the various purposes where you can use your Pag-IBIG Fund Housing Loan:
- Purchase of fully-developed residential lot or adjoining residential lots not exceeding one thousand square meters (1,000 sqm);
- Purchase of a residential house and lot, townhouse, or condominium unit;
- Construction or completion of a relative of the borrowers;
- Home improvement on the house owned by the borrower or a relative of the borrower, or on a property currently secured under Contract-to-Sell (CTS) or Deed of Conditional Sale (DCS) between Pag-IBIG Fund and the buyer.
- Refinancing of an existing housing loan;
- Purchase of residential lot or unit plus cost of transfer of title.
How much can I borrow?
You may borrow up to Six Million Pesos (P6,000,000.00). However, the loan amount you will receive shall still depend on either the actual amount you need, your loan entitlement based on capacity to pay or loan-to-appraised value ratio – whichever is lowest.
What are the interest rates?
Now, more than ever, is the best time to apply for a Pag-IBIG Fund Housing Loan as it carries its lowest-ever interest rates! The interest rate shall be based on your chosen re-pricing period under our Full Risk-Based Pricing Framework.
What are the available loan repayment terms?
The maximum payment period for the loan is thirty (30) years.
Does the Pag-IBIG Fund Housing Loan carry insurance?
Yes. Your Pag-IBIG Fund Housing Loan shall be covered by a Mortgage Redemption Insurance (MRI) or a Sales Redemption Insurance (SRI), whichever is applicable, as well as a Fire and Allied Perils Insurance (FAPI).
SOURCE:
https://www.pagibigfund.gov.ph/FAQ_HL.html