For those Who Plan to Avail a Pag Ibig Housing Loan…
To those of you who are planning to avail of a Pag Ibig Housing Loan and are first-timers at it, kindly take note that the maximum loanable amount for a Pag Ibig House Loan is P3 million pesos. Also, most of the applicants of Pag-Ibig are usually borrowing P400,000 to P700,000, and you will get the lowest interest rates of these amounts. Hence, Pag ibig housing loans are actually more ideal for middle-income earners.
Below is the Interest Rate table for the corresponding Pag-ibig Loan Amount (30 year maximum loan term):
| Up to P400,000 | 6% |
| Over P400,000 upto P750,000 | 7% |
| Over P750,000 upto P1,000,000 | 8.5% |
| Over P1,000,000 upto P1,250,000 | 9.5% |
| Over P1,250,000 upto P2,000,000 | 10.5% |
| Over P2,000,000 upto P3,000,000 | 11.5% |
In addition, take note of these guidelines when applying for a Pag ibig housing loans…
- Pag-ibig can only be applied to existing properties already built. Only selected pre-selling properties are accredited by Pag-Ibig, and usually they are affordable-type properties and socialized houses.
- The amount of the Loan is always lower than the value of the property stated in the Deed of Absolute Sale. This means that you cannot loan the whole amount of the property, and must be prepared to shell out a downpayment (about 20 to 30% of the property’s price)
- When you want to apply a Pag-ibig Loan on a property which has encumbrances (utang) like unpaid property taxes or mortgages, you must first verify with HDMF (Home Development Mutual Fund or the official name of Pag-Ibig) if this property is acceptable for a loan.
- Improvements outside of the unit (e.g. fences) are not included in Pag-Ibig financing, and you must consult with them before you plan to construct these outer improvements.
- Follow the Bill or Materials specified by your loan. Any attempt to finance more than the specified amount of materials will result to lower loan releases, so please be honest with your construction.
- Borrowers who are separated from their husbands/wives must submit legal separation papers so that the signature of the spouse will not be required from all legal documents.
The FIRST STEP to applying a Pag ibig housing loan is to attend their Loan Counseling session at the Pag-Ibig offices, so set your appointment there by calling their hotline at 7244244 (PAGIBIG) or going to this web address: http://www.pagibigfund.gov.ph/mt_fac.htm.
Goodluck and Godspeed to your application folks!
Tags: Pag Ibig House Loan, Pag Ibig Housing Loan, Pag ibig housing loans, Pag-Ibig, Pag-ibig Loan
Nice! Im planning to get 2 units from lancaster residences by profriends. one for my sister and one for me.
Ah.. goodluck to you
Glad you found this helpful. Please tell your friends about this Site also
intresado po ako ..asap
ok please call the Pag-ibig hotline then
plsss txt us we are going yo buy a house and lot
e2 poo ung # nmen 09072745914
Please go to the Pag-ibig Website instead at http://www.pagibigfund.gov.ph. Im not a Pag-Ibig agent Im afraid
Bookmarked, thanks
Your welcome
You can share this with others too to help them as well…
Is it possible to use Pagibig Loan to pay for the downpayment amount of a condo unit?
Call the Pag-big hotline or go to their website listed above to check
Hi,
Do I have to loan the full amount for pag-ibig? Or can I just apply for a partial loan?
Ex: Condo unit price is 2.4M
Do I have to apply for the loan for 2.4M? Will pag-ibig only release loans if you apply for the whole amount? Or can I apply for only 700K (balance of 1.7 will be from my own pocket).
Thanks for the helpful blog!
You should try calling Pagibig to answer your questions, check the number listed above
I believe they only grant a Partial Loan of about 60-80% of the appraised value of the property, and Pag-ibig will also look at your past contributions to compute your Monthly Amortization with them.
Hi,pwede na po bang mag apply ng pagibig housing loan,magbayad lang po ako ng 2yrs.
please go to the Pagibig website or call their numbers listed above
Nag member po ako na pag-ibig sa iligan city, ngayon plano ko po sa metro manila po ako mag avail ng housing loan, pwede po ba yun na dun ako mag avail ng bhay sa metro manila area khit dun po ako nag-register ng pag-ibig sa mindanao? at isa pa poh kailangan po ba maghanda ng initial downpayment pag kukuha ka ng bahay khit na nag kocontribute kana ng ilang years? salamat po.
tawag nlng kyo sa hotline
or sa website nila…
pwede n po ba mag-apply ng housing loan kahit 4 years palang ang contribution?
Pwde
Please call their hotline listed above..
does pag ibig grant loan 100% for exam. if the townhouse price is 1.5m , then i will apply a pag ibig loan for 1.2m, will it grant the 1.2m?
Pls call the Pagibig hotline or website listed above