Pag-IBIG Housing Loan Basics. Plus: Dividends, Lost Land Title, etc

We are starting a new Question-and-Answer format here at Pag-IBIG Financing from this month onwards. At the end of each month, we will showcase
the best questions and our summarized responses to each of them and post them as article.

So feel free to send out your questions.

For this month, here are some of the questions we tried to answer:

1. What to do if the Land Title is lost?
2. How Pag-IBIG Financing works… This is basic, but worth reading.
3. Is it perfectly legal to loan for a lot even if I’m using the money to build the house?
4. I want to know about the dividends.

Plus many other such questions. So, please read this latest article.

5 Home Buying Strategies When Money is Tight

Home buying eventually boils down to the question: “Can you afford to buy that house?”

It is very important that you buy the property which you can afford to pay instead of buying one which you will eventually lose when financial disasters strike.

Here are some tips recommended by the author:

1. Save up.
2. Move farther from downtown.
3. Buy a small house with a large lot.
4. Buy “dirt” and clean it up.
5. Buy foreclosure properties

Read the rest of the article to know more.

Common House Types in the Philippines

Once you have already figured out how to finance a house and you are ready for a long term commitment as a result of becoming a home owner, now is the right time to search for that home.

Here are some of the most common houses you will see in the Philippine Real Estate Market:

1. Bungalow vs. 2-Storey House
2. Single-Family vs. Multi-Family
3. Detached vs. Attached

Which one is your type?

Home Ownership And Its Many Benefits

Home ownership has a lot of benefits to the individual who owns the house, his family, the government and the society where he lives.

1. Home ownership fulfills a basic need of man.
2. It promotes freedom.
3. A house provides security.
4. Study has shown: Home ownership promotes family stability.
5. Your house is a good investment.
6. Homeownership helps fuel the economy of the Philippines
7. Encourages countryside development.

So, if you can, you should buy a house!