Has no outstanding Pag-IBIG loan in arrears.You are not more than 70 years at loan maturity.You are not more than 65 years old by the time of loan application.If you have less than the required number of contributions, you can make a lump sum payment as long as you have been a contributing member for at least a year Remittance of monthly contributions for 24 months under Pag-IBIG I, Pag-IBIG II, or Pag-IBIG Overseas Program.To be eligible for a Pag-IBIG housing loan, you should have the following: Check the video below from Pag-IBIG for more details. Pag-IBIG has two types of housing programs you can avail. Refinancing an existing mortgage, particularly a lot loan, with the construction of a residential unit thereon Refinancing an existing home loan with home improvement Purchasing an old or new residential unit with home improvement Purchasing a fully developed lot of up to 1,000 square meters and building of a residential unit thereon And to combine loan purposes, limited to:.Refinance an existing mortgage with an institution acceptable to the Pag-IBIG Fund.Construction or completion of a residential unit.Home improvement or alteration of an existing unit which will improve the house’s durability and value.Buy a fully developed residential lot or adjoining lots of not more than 1,000 square meters.Purchase a residential house and lot, condo unit, or townhouse.Where can I use the Pag-IBIG Housing Loan?Īpart from buying your dream house, you can get a Pag-IBIG housing loan for the following purposes: With this loan, you can borrow up to PHP 750,000 with a repayment period of up to 30 years. The Affordable Housing Program, on the other hand, caters to low and minimum wage earners. You can also get multiple loans and apply with a co-borrower. Under this program, Filipinos can borrow up to PHP 6 million for a housing loan. This is the Pag-IBIG Fund's regular housing loan program. You can get a housing loan from Pag-IBIG as an alternative to mortgages offered by banks.īelow are the two housing loan programs offered by Pag-IBIG: End-User Financing Program It manages the national savings program and offers affordable house financing for Filipinos. What is the Pag-IBIG Housing Loan?Įstablished in 1978, the Home Development Mutual Fund or the Pag-IBIG Housing Fund, is a government-owned agency under the Human Settlements and Urban Development department. Its main service, the Pag-IBIG Housing Loan, can be used for various purposes such as purchasing a house to making home improvements. However, you can turn this dream into a reality with the help of the Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund. It may seem impossible, what with basic goods getting more and more expensive by the day. Many Filipinos long to have their own home.
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