Most of us would like to avail of this loan because it is very hard to spend big money at one time to buy a house. Banks are also willing to lend their money for housing loan but the interest rate which they ask is not minimal so Pag-ibig Fund still the best option. Home development Mutual Fund (HDMF) is the other name of Pag-ibig Fund.
Here is the table and Pag-ibig Fund Housing Loan Guidelines:
The loan will depend on your capability to pay your monthly amortization. Here is a table that will guide you on how much loanable value you can loan base on your contribution.
|Pag-ibig Fund Table of monthly Contribution|
The maximum loan duration is 30 years and you must not more than 65 years and your age during maturity of the loan must be 70 years. It means that even if you are 65 years old you can still avail of the loan but for 5 years maturity option since you will be 70 years old after 5 years.
Basic Requirements for the Pag-ibig Housing Loan: employment certificate, two years Pag-ibig fund Contribution, Registration payment (just bring P5000.00), 1x1 pictures, checking account, electric bill (address verification).
Additional for House repair loan or building your own dream house: Lot tittle, map location (sketch), your lot must be accessible by electricity, water and drainage provision and road right of way. This is the basic explanation of Pag-ibig fund Housing Loan Guidelines for you if you are interested to own a house by availing Pag-ibig Fund.