Members of the Pag-IBIG Fund have a chance to enjoy lower interest rates and longer payment terms when they avail of Pag-IBIG Housing Loan program. Take a look at list below and see the current prevailing interest rates and loan terms available to you as a Pag-IBIG Member.
- Loan amount of up to Php 300,000; 6% interest rate per annum.
- From Php 300,001 to PhP 500,000; 7% interest rate per annum.
- From Php 500,001 to PhP 750,000; 10.5% interest rate per annum.
- From Php 1,000,000 to PhP 2,000,000; 11.5% interest rate per annum.
Loan amount of up to PhP 700,000 can be paid in 30-year term; Php 700,001 up to PhP 2,000,000 can be paid up to 20 years.
Please take note that you can only loan up to PhP 2,000,000 through Pag-IBIG. If the price of the property is higher than 2,000,000, you may want to personally finance the balance.
So you are Pag-IBIG Fund Member and want to use Pag-IBIG for your housing loan mortgage? Here are some money matters things you to know about.
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Pag-IBIG Housing Loan is perfect for those who are on a tight budget and wanted to avail of long term payments at lower interest rates. Overseas Filipino Workers who are already members of the Pag-IBIG Overseas Program (POP) are highly encouraged to avail of this loan for their real estate investment here in the Philippines.
If you are already member of the Pag-IBIG Fund, you may want to check the following are the requirements to avail of the Pag-IBIG Housing Loan.
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A Pag-IBIG member may avail of a Housing Loan to finance any of the following types of project:
1. Contruction of Residential Unit (CRU)- construction or completion of residential unit on a lot owned by the member.
2. Lot Purchase (LP) - purchase of a fully developed residential lot not exceeding 1,000 sq m in area.
3. Purchase of Residential Unit (PRU)
- old or brand new
- properties mortgaged with Pag-IBIG Fund
- acquired assets disposed of through sealed public bidding or negotiated sale
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So you think you have piled up enough money and are excited in buying a real estate? Wouldn’t it be better if you have also prepared your documents in case you decide to proceed with the actual purchase?
Listed below are some of the most important documents to prepare. Please take note that different developers and Financial Institutions will require different set of documents to be able to apply for a housing loan. Some are very strict requiring you to disclose detailed financial information; while others are not so strict provided you can pay your obligation. It is always safe to be sure you have these documents.
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