Beruflich Dokumente
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243
The Pag-IBIG housing loan may be used to finance any one or a combination of
the following:
o Purchase of a fully developed lot not exceeding one thousand square
meters (1,000 sq. m.), which should be within a residential area;
o Purchase of a lot and construction of a residential unit thereon;
o Purchase of a residential house and lot, townhouse or condominium unit,
inclusive of a parking slot
o Construction or completion of a residential unit on a lot owned by the
member;
o Home improvement, i.e. any alteration in an existing residential unit
intended by a homeowner to be a permanent integral part thereof, which
will enhance its durability and material value;
o Refinancing of an existing mortgage with an institution acceptable to the
Fund
o Combination of loan purposes shall be limited to the following:
Purchase of a fully developed lot not exceeding one thousand
square meters (1,000 sq. m.) and construction of a residential unit
thereon;
Purchase of a residential unit, whether old or new, with home
improvement;
Refinancing of an existing mortgage, specifically a lot loan, with
construction of a residential unit thereon.
¾ A member, whether new or with existing monthly contributions that are still
short of the 24-month membership requirement, shall be allowed to make
lump sum payment based on the mandatory monthly membership
contribution rates (both EE and ER share) to meet said requirement at
point of loan application. Lump sum payment of membership contributions
shall be considered a single contribution for the applicable month as of the
payment date
¾ Not more than sixty-five (65) years old at the date of loan application and
must be insurable; provided further that he is not more than seventy (70)
years old at loan maturity;
For loans up to Seven Hundred Fifty Thousand Pesos (P750,000.00) which shall
either be secured by a First Real Estate Mortgage or a Deed of Assignment of
Contract to Sell on the property, which is bought from a developer and is covered
by a buyback guaranty, the member’s loan entitlement shall be based solely on
his Pag-IBIG contributions.
With the Fund’s move to make home financing more affordable to Pag-IBIG
members, the loan-to-collateral value ratio was increased. At present, the
following rates are in effect:
Such interest rate shall accrue on the basis of 365-day actual days elapsed.
The loan shall be repaid at a maximum term of thirty (30) years, and shall, in no
case, exceed the difference between the present age and age seventy (70) of the
principal borrower.
The borrower shall pay a Processing Fee of Three Thousand Pesos (P3,000.00),
which shall be paid as follows:
1.1 One Thousand Pesos (P1,000.00) upon filing of the loan application,
which shall be non-refundable if the loan is disapproved