Pagibig Financing

Pag-IBIG Fund, Housing Loans, Mortgage, Membership, Foreclosures, etc

Mortgage Loan Fundamentals

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Real estate properties are seldom bought on spot cash. The vast majority are purchased with a little down payment and mortgage loans on the balance.

A mortgage loan is a form of secured financing; that is, the lender gives you the needed financing and in return you pledge the property as collateral.

In a mortgage loan, there are two very important documents that you will be committed to:

  • Note – is a promise to repay the loan on a timely basis
  • Mortgage or Deed of Trust – is a pledge to secure the loan with the real estate in question in case the borrower fails on his loan obligations.

A mortgage creates a lien on the property, which gives the lender the right to foreclose the property in question.

A loan default happens when you fail to repay the loan “on time” as stipulated on the contract. If that happens, the lender can foreclose the mortgage and take on the property.

Interest Rate and Loan Term

A mortgage loan has two very important components that you need to be aware of.

  • Interest rate – is the price of using the lender’s money and is applied to the principal balance. A lower interest rate means a cheaper use of the lender’s money and should be good for you.
  • Loan term – the time it takes to pay off the whole amount borrowed. Loan term usually spans a number of years.

These two factors primarily affect the installment payments, which is usually on a monthly basis.

The amount shown on the monthly installment schedule always remains constant. When you pay off a loan, a portion goes to the interest payment and another portion goes to pay off the principal amount. In other words, the principal balance is reduced with each payment that you make. And as a consequence, the interest is also reduced as the loan matures. Early installments mostly go to the interest payments while later installments mostly cover the principal.

Down Payment and Mortgage

Most lenders will not grant you a loan that is equivalent to the selling price of the property. In many cases, they will have to appraise the property and you will be asked to put a down payment and loan the remaining balance of the appraised value.

The down payment is sometimes referred to as equity on the property.

The standard down payment is 20% of the appraised value of the property; 80% being your loan or the financed amount.

The more money you put as down payment, the lower your loan will be. And always remember that the loan bears an interest.

Now comes the question: Which is better of the two?

  1. A low down payment and large loan.
  2. A large down payment and small loan.

There are arguments favoring one over the other. It’s all up to you and your circumstances. But sometimes, the lender will force you to take on lower loan (with large down payment) to lower their risk of loaning you the money to finance your real estate purchase. That’s just pure business.

Pag-IBIG Mortgage Loan

Depending on the property and where you are buying it, Pag-IBIG Fund may give you a large amount of loan which is almost equal to the selling price of the property. But always bear in mind the maximum loan amount the Pag-IBIG Fund can grant you. If you find the amount too small for the property you are considering, you may need to come up with a large down payment or you may use an alternative financial institution.

~~~

Mortgage Loan Fundamentals is written by Carlos Velasco.

Reader Interactions

Comments

  1. hi,
    I’m an OFW.i’m planning to purchase a lot thru pag-ibig from a developer..the total contract amount of the lot is P2,160,000.00…I’m planning to pay only P160,000.00 and the balance of P2M is thru pag-ibig..is it possible?
    Thanks!
    Marian

    • Hi Marian,

      As a Pag-IBIG member, you are allowed a maximum of P 3M for your real estate loan. The answer is “Yes” it is possible. It’s better to check with the staff of Pag-IBIG because there are other things to consider before you will be granted the loan.

  2. Good Day.

    My dad has been working as a government prosecutor, thus, a member of pag ibig for more or less twenty (20) years. He has never applied for any loan program.

    We plan to purchase a lot valued at P1M. (1)How much can he loan? (2)What would be the loan term, like, how many years will we have to pay for it? (3) Assuming that we could loan the entire amount, can you please send the approximation of monthly rates plus interest? (4) How long will it take for the loan to be released? (5) Can it be released through a check where the lot seller will be named as the payee?

    Thank you very much.

  3. Hi. I paid 30 percent DP in cash of the real estate value and signed papers from the developer. The amount of the real estate is 1.7M Php. I was assured i have no more to pay except for the Monthly Amortizations. After 6 months I was told I must pay 150,000 more because Pag-Ibig assessed the value lower than the developers price. They also argued that my loanable amount approved by Pag-Ibig was lower.
    My question is, which real estate price must be followed? Pag-Ibig Assessment or Developers Price? should i pay more?
    I am an OFW with Pag-Ibig POP account.
    Thanks

    • Hi Noel,

      Thanks for pointing this out.

      Pag-IBIG will perform its own appraisal and since they that the one financing the property, naturally, it is their own appraisal which they follow. In this case, Pag-IBIG has the final say on the “real” (read as appraised) value of the property. And yes, you have to come up with upfront cash to make up for the price difference.

  4. For refinancing, is Pag-ibig lax on loanable amount? Lending institutions considers about only 60% of appraised value, how about Pag-ibig?

    • Eyl,

      I have yet to see a financial institution which is lax on the loanable amount, Pag-IBIG is no different. Pag-IBIG will conduct its own appraisal and might consider a loan of 80% or lower depending on the capacity of the borrower. It all boils down to the capacity to pay.

  5. Hi admin,

    I was made to understand that
    there is no prepayment penalty
    with Pag-Ibig

    What is the advantage then of opting
    for a 15 year loan when you can choose
    a 30 year loan but pay an amount like you
    chose a 15 year loan?

    Does choosing a 30 year loan mean bigger
    MRI/Fire insurance expenses?

    Thanks

    • Mark,

      The main advantage is that you can pay off the loan earlier with a 15-year mortgage than a 30-year mortgage, thereby saving on the interest payment. The MRI is usually paid off earlier than the loan, usually 2 to 5 years.

  6. Hi admin,

    I mean no offense but I think you
    misunderstood my statement or maybe not
    hehehe

    I’m going to use real life figures to
    make this more realistic.

    If I take out a loan for 1M at the
    current 8.5% rate, the monthly
    amortization of a

    15 year loan – 9,847.4
    30 year loan – 7,689.13

    Considering the figures above,
    I could take out a 30 year loan
    but still pay a monthly amortization
    of 9,847.4 and I would have paid
    the loan off in 15 years hence my question
    about the advantage in getting a 15 year
    loan.

    And if I experience any difficulties,
    I could dial down my monthly payment to
    as low as 7,689.13 without incurring penalties.

    This wouldn’t work elsewhere because as far
    as I know they have a prepayment penalty.

    So what’s the disadvantage in my plan?
    Maybe it has something to do with how the
    MRI and fire insurance is charged?

    You mentioned that the MRI/fire would be paid off
    2 years before the loan is paid off?
    I would have thought that it would be paid off
    as soon as my loan is paid off?

    How is that so?

    Thanks and more power!

    • Hi Mark,

      I will get back to you again, but I think you got your figures messed up. 😉 I still maintain, the main advantage of paying earlier than the expected life of the loan is that you save on the interest payment.

      Please read that part under “Interest Rate and Loan Term”, that’s not the complete answer but you can get a hint from there.

  7. Hi,

    we want to buy an existing house or condo. How can we know that the seller has no mortgage loan on the house ? Is it the task of the realtor to check that the house is free from mortgage loan ?

    Another question: suppose there is still an outstanding mortgage loan for the house. must the buyer of the house take over the complete mortgage loan or does he has the option to pay off (a part of) the loan ? if paying off is possible, what would be the penalty (in percentage) ?

    Thanks

  8. Hi Admin,
    I would like to clarify something with the following situation:
    1. my loan limit is 3M right?
    2. is it possible that i buy a lot worth 1.5M and then put up a house worth 1.5M all in a pagibig financing?

    I am confused. thanks a lot.

    • Hi Markm7d2,

      Yes, possible. But what usually happens is that the value of the lot and the house is not equally shared 50-50.

      Bear in mind that the 3M could be lot-only, house-and-lot, or just plain house construction.

      I hope this clears things up for you.

  9. Hi Admin,

    could you please answer my questions on august 17th. (entry number 14) ?

    Thank you,

  10. Hi Irwana,

    Sorry, I missed that one. 🙂

    One of the ways you can check is by looking at the title and you are correct in saying that it is the job of the broker (Realtor) to disclose the real status of the property he is selling.

    If it is indeed on mortgage, you have two options:

    1. You can pay the seller and he will pay the balance.
    2. Or, you can assume the loan, and pay only a part to the seller. If you go this route, the interest rate is usually the rate when the loan was taken, assuming it is a fixed-rate mortgage.

    I hope this helps.

  11. Hi Admin,

    I am applying for a housing loan under Profriends, a local real-estate developer.

    I have a question regarding interest rate.

    Let’s say our scenario is this:

    Current Loanable Amount (Principal): 850,000PHP
    Current Interest Rate : 8.5%

    Then, after a year, I have saved 100,000PHP. At that time I would like to pay partial amount of the principal of my loan.

    Here are my questions:

    (1) Would this make my loananble amount 750,000PHP?
    (2) If so, would this decrease my loan interest rate to 7%?
    (3) Would PAG-IBIG adjust my monthly amortization?

    Please advise. Thank you!

  12. Hi, me and my husband working abroad, my husband have a housing loan in pag-ibig, can i ask if i will become a member of POP can i avail an housing loan as well?

    Thank you.

  13. Hello!

    I live and work here in Dubai. I wish to invest in a residential/commercial property in Boracay that requires 40% DP from me, with the 60% balance being paid out through developer finance over 10/15 years.

    What I want to know is, can I borrow the full 40% (around Php2.2M) from PAGIBIG? Would I have to put down a downpayment for that as well? I can manage perhaps Php200,000. As I am rather illiquid on account of my participation in long-term investment funds, I would prefer not to have to put up a DP to the 40% to be paid out to my real estate agent/developer.
    Will I be allowed to do this?

    Another thing, how long does it usually take to process a loan application for us overseas applicants?

    Thanks so much.

  14. Hi Admin,

    I have a question regarding interest rate.

    Let’s say our scenario is this:

    Current Loanable Amount (Principal): 850,000PHP
    Current Interest Rate : 8.5%

    Then, after a year, I have saved 100,000PHP. At that time I would like to pay partial amount of the principal of my loan.

    Here are my questions:

    (1) Would this make my loananble amount 750,000PHP?
    (2) If so, would this decrease my loan interest rate to 7%?
    (3) Would PAG-IBIG adjust my monthly amortization?

    Please advise. Thank you!

    • Hi Ging,

      Good question.

      You need to understand that the monthly amortization actually consists of two parts: principal and interest.

      If you are going to make an advanced payment, the first thing that will be covered in the interest due for that month and then the rest goes to cover the principal payment. This way you will actually save on the interest payments.

      1) It will lower the principal probably much lower than 750k if you have already made at least a year’s worth of amortizations.

      2) It will probably not affect the interest rate since that one is fixed.

      3) Either that of the loan term.

      Your questions are very sensible.

  16. Hallo — for a condo unit (no parking!), if i get a bank loan for the remaining 80% (abt 1.55M), can i subsequently get a Pag-IBIG loan to pay off part of that bank loan? since Pag-IBIG has lower interest rates.

    My goal is to minimize the interest i’ll end up paying (i like earning interest, not paying it!) Thanks very much 🙂 PS. this site is awesome

    • Hi Angela,

      Essentially you are saying that you will get a loan to pay for another loan, right?

      First, Pag-IBIG Fund doesn’t allow this. And secondly, your analysis is juggled. 😉 You don’t save on interest that way because you are doubling your loan.

  17. I would like to buy a lot worth 6.8M…can I borrow 3M from Pag-ibig and the rest from a bank? Will Pag-ibig allow this? The reason why I asked is because I want to buy that particular property immediately, and I am a little strapped for cash, but I have a big monthly income, and I already own a house and lot which I can sell later on for about 8M (net of capital gains already), so I can pay off the bank loan and just retain the pag-ibig loan. Hope you can help me.

    • Hi PCSO,

      No, Pag-IBIG doesn’t allow that one. If you can get the whole thing from your bank, then do it. That way, you will be dealing with only a single company and it should simplify the transaction.

  18. hi admin…i want to buy a house and lot worth 3million..magkano po ung total monthly payment ko po sa pag-ibig if i choose the 10-15 years?xenxa po and godbless!!!

  19. i have a housing loan for a property and i’ve paid 2 years amort. but now i want to dispose of it and offered to sell it to anyone who would pay me back what i’ve paid for two years and then assume the loan balance. what document shall we secure for this kind of transaction? will pagibig allow it?

  20. I am male and already married, can i get a house construction loan from pag-ibig with my BROTHER as co-maker? I am planning to purchase the lot on the owner giving us a terms and afterwards apply for a house contruction loan to Pag ibig? Would there be a cash out on the Pag ibig loan process? Is my loan possible? Tnx

  21. Good morning sir/madam,
    Meron po akong gustong bilhing lupa(lot only) worth P/1.6 million pesos, i have a cash amounting P/ 1 million pesos in my hand, then i wanna ask kung puede P/ 600,000.00 ay thru Pag-ibig fund, my montly salary is P/9,500.00, what other requirement(s) should i settled to grant my request.

  22. sir tanong ko lang kung babayaran yung total balance nung housing loan magkano po kaya ang babayaran namin yun na po ba yung naka lagay sa statement of account yun na po ba yung babayaran na balanse.

  23. Sonny,

    That’s possible. First you need to get the Title ready. When you apply for a loan, the property will be appraised and basically, you have to wait for the approval from there.

  24. Hi Admin,

    Are there any changes in PAGIBIG policies since the G.A. issue? My developer said it is now taking them longer to facilitate PAGIBIG loan applications. Main reason for delayed turn-over.

    And, I also read from the news that VP Binay is arranging lower interest rates for house loans. Any updates?

    Thanks!

  25. hi admin:

    just want to ask im a 3year member of pagibig with existing short-term loan with good standing…

    my questions are:

    1. can i purchase a lot thru pag-ibig even i have existing short-term loan?
    2. if yes, can my wife apply a loan from the bank for house construction…lets say after 3 years while im still paying the lot thru pag-ibig?

    thank you so much

  26. hi admin;ask lng po if still pwede pa po po ba mg avail ang father ko ng housing loan kasi he is now turning 60 years old police po cya mgreretired na po.pls help thnx…

  27. Updated:

    Hi Admin,

    Is it true that if your monthly contribution to Pag ibig is only 100, the maximum amount you can borrow is below 500,000? (Even if you are earning more than 40,000 a month).

    Thanks.

  28. i am an OFW in abu dhabi for 2 years now. before i left our country, I already contributed 39 months to PAGIBIG. I want to renovate my place in manila. but the title owners are my parents who are now past 70 years old. how can I secure a loan from Pagibig. If I need to buy it what shall I do? thnks

  29. Hi, Admin! May existing housing loan po ako sa Pag-ibig. Tanong ko po sana kung ano po ang base ng repricing ng interest rate ng pag-ibig after every 3 years, yun po bang original mount of the loan, or yung remaining balance after deducting the credited amortizations within the 3-yr period?

    Also, pano po pag-compute nila ng interest rate? Per end of calendar year po ba or per end of the 1-yr period from date of the take out (e.g. August 30)? Thanks po.

  30. hi sir! tanong ko lang po kung magkano po ba pwede ko ma loan kasi contribution ko lang po is P300 peson only pwede ko pa bang dagdagan para maka avail me ng mas malaki na loan for lot purchase.maraming salamat po ..

  31. hi admin,

    I am Seventh-day Adventist which worship God on Saturday. Since I desire to avail of housing loan in your institution, but the problem is i can’t attend the scheduled housing counselling which falls on every Saturday. is there any day availbale aside from Saturday to which i can attend the counselling for housing loan. or any suggestion that i could be able to attend another day aside from saturdat.

    Dennis jay
    Tambulig, Zamboanga Sur

  32. hi admin,

    do you have a branch which conduct couselling on housing aside from saturdat.

    dennis jay

  33. hi admin,ask lng po ako.andito po ako sa taiwan may asawa po ako dito.pero mmbr po ako ng pag ibig fund 2yrs na po.,mga mgkno po ba pwd ko ma loan para pagawa ng bahay?at magkno interst?kng pwd ako mka loan pwd po ba dito ako mag apply sa taiwan?thanks

  34. hi admin,ask lng po ako.andito po ako sa taiwan may asawa po ako dito.pero mmbr po ako ng pag ibig fund 2yrs na po.,mga mgkno po ba pwd ko ma loan para pagawa ng bahay?at magkno interst?

  35. Eric: You may want to avail of the Multi-Purpose Loan and use the money to renovate the house.

    Puzzled: Good question. The repricing will be based on the balance. And there is a table to determine the monthly amortization given the interest rate, loan term and loan amount.

    Asunta: You can either increase your contribution or show them that you have the capacity to pay for a bigger loan. This means your income document should prove that you have the capacity.

    Dennis: Please inquire from you branch there. Some branches will conduct even on weekdays to accommodate members who may not be available on Saturdays.

    Recelina: Your loan amount will depend on your capacity to pay, you employment history and your contributions.

  37. Hi Admin,

    Just wanna ask lang po if is possibble for me to avail the Multi Purpose Loan although andito po ako sa singapore?. Hows the process & what are the requirements? & how long it would take?.

    I hope to hear from you soon.

  39. what if my loan is 835000 from pag-ibig and i want to pay it within 15 yrs how much is the interest? and as my principal balance go lower from time to time i made a payment, will my interest will go lower too? is the interest fixed?

  40. Angel:
    I think there is an office there. So, if you have the time, please visit the Pag-IBIG Office in Singapore.

    Nino:
    Please refer to the Table shown at the Right Panel of this website. The interest rates are shown there.

  41. My loanable amount from Pag-ibig is 3M. The amount of property i’m interested to buy is worth 1M. Do i still need to put an equity or downpayment? Is this an option or a requirement? Thanks

  43. Good Day!

    I would like to ask how long does it takes for a Mortgage Loan before PAG-IBIG release? cuz we have a buy for our land and its like we’ve been waiting for a year already cuz they said they are waiting for the PAG-IBIG loan to be release.

    Thank!

  44. Hi,
    Gusto ko lang itanong kung magkano po ba ngayon ang bahay at lupa sa subdivion to pay for 25 yrs? magkano po ba ang downpayment sa pag ibig para makaavail nito at anong dapat naming gawin?

  45. hi,

    i wish to buy a lot worth 400,000 pesos (200 sq meter), how much can i loan from pag ibig? magkano ba ang downpayment ko po and magkano din po ang monthly payment ko?

    thanks

  46. Good day sir/madam,
    we already paid for the 20% downpayment of the total amount/price of the house and lot the we are going to buy from the developer..940,000plus is the total amount of the unit. the 80%of the total amount wil be loan thru pag-ibig..we completed already the 24 months required contribution and continue paying the contribution..How long will our loan be taken out after the developer completely submitted all the requirements? thanks

  47. VirtualVamp:
    Thats depends on many factors. For one, there are documents coming from you and the buyer that Pag-IBIG will be checking. If you want, you may coordinate with the buyer and asking them at what stage of the loan application they are currently in.

    Brenbratz:
    You may want to pay the standard 20% down. Actually, you can pay more than that. Please check on the Table of Interest Rates shown at the Right Panel of this website to know the corresponding interest rate.

    Ian:
    It should take less than a month. Please follow up with the office where you applied for the real estate loan.

  48. Hi,

    My Fil-Am citizen aunt bought a condo unit here; she’s paying thru post-dated checks. If I become a co-owner, can I apply for the PagIBIG housing loan so I can fund her remaining post-dated checks?

    Thanks,
    Cancan

  49. good day admin,

    good day. we have a housing loan (term, 25 years) and i am planning to pay-off my outstanding balance which is according to the statement we are receiving monthly, is only 420,000+.

    my loaned amount = 490,000
    monthly amort = 5,008
    i already paid for 5 years since 2006
    outstanding balance = 420,000+

    if i pay off this balance come december 2010, would i be considered a discount, like for example i will pay only around 400,000 or 390,000?

    also if i pay it off, how can we get our title?

    hope for your reply. thanks…

  50. Hi! My husband and I are planning to buy a condo or a townhouse that’s worth P1.5M. We understand that the loanable amount is 3M. But the loan pag ibig can give is based on the monthly income of both husband and wife, is that right? The usual problem that we have is that how to pay for equity. You see, we’re renting an apartment right now that’s worth 11k/month. Our equity is 17K, so monthly we’re paying 29K. My question is, can we loan a full amount of 1.5M to Pag ibig so that we don’t have to pay for equity? I’m sorry, can you please enlightened me about this. Thank you.

  51. @Cancan:
    Pag-IBIG Home Loan requires that both of you be members of Pag-IBIG FUnd.

    @Jay:
    There is no discount, but you can save on the interest payments due in the future. Any advanced payment goes directly to cover the principal amount. As for the title, you have to wait for it to be released.

    @Yen:
    Take note that 3M is the maximum amount and not necessarily available for everyone. You are already aware that the loan amount also depends on your income. You can start with that knowledge and work from there. What I would suggest if for you to first save up for the down payment (or equity) and then pay it at once.

  52. Hi, Admin, thanks for answering my question. A follow-up: My Fil-Am citizen aunt, who bought the condo here, is a retired pharmacist but does some consultancy work sometimes. Can she still join Pag-IBIG as a Voluntary Member? (So that if we’re both Pag-IBIG members then I can apply for co-ownership of the unit and for the housing loan to finance her remaining post-dated checks to pay for the unit)

    Thanks again!
    Cancan

  53. @Cancan:
    That’s possible indeed. But you need to be aware of some more details like the age of your aunt and the proof of income.

  54. Thanks admin. How long does it usually take for them to release the title once the loan has been paid off already? Because I worry na baka mamaya, madelay lang sya ng madelay. You know, typical Filipino procedure.

  55. hi po.. ask ko lang kung ano po ba nilalgay sa checks pag nag housing loan ka? kanino po naka address? tapos na po kasi ako pay s equity ng house.. thanks..

  56. hi admin, i want to be a member, how to download ur membership form? please help me. or can u send me the file to my email add **deleted by admin on purpose**

  57. @Jay:
    I think 3 months should be maximum, though it should be faster now since the Registry of Deeds is already computerized.

    @Mhae:
    It should be to the account of Pag-IBIG Fund… Please, please check with the staff before you write anything on it.

  58. Hi admin, kumuha ako ng house and lot sa pinas. Gusto ko i-apply ng pag-ibig loan yung balance na 950k. Ang tanung ko po is.. pwede ko bang i-apply dito sa dubai yung pag-ibig loan ko? If pwede, Anong requirements san at pano ako mag -aaply nito? Active member po ako ng Pag Ibig. Maraming salamat.

  59. Hello again, Admin.

    Is there any service where I can set up an appointment with a Pag-IBIG representative so I could ask about the nitty-gritty, really complicated stuff? Thanks as always 🙂

    ~ Cancan

  60. hi ..admin,

    8 yrz n po akong active sa pag ibig and yung bf ko na plan nabalak kumuha ng house thru pag ibig payment…6 yrz n pong reg sa work..may na inquiry po kami n 3,800.00 ung equity ng house n payable 18 months then ung monthly 3,400.00 but ang salary nya lang po ay nag rarange ng 5k to 6k ..pasuk po ba sya sa loan ng pag ibig

  61. hi ..admin,

    8 yrz n po akong active sa pag ibig and yung bf ko na plan nabalak kumuha ng house thru pag ibig payment…6 yrz n pong reg sa work..may na inquiry po kami n 3,800.00 ung equity ng house n payable 18 months then ung monthly 3,400.00 but ang salary nya lang po ay nag rarange ng 5k to 6k ..IN 15 DAYS pasuk po ba sya sa loan ng pag ibig

  62. hi admin i just want to assume a property actually from my tita which 2 years n di nahuhulugan sa PAG-IBIG. . .

    question. . . is there any instances b n ung property eh maremata???

    just want to make sure lang kc i want to finish 1st the payment on the part of my tita then afterwards pay the arear of the property and continue its monthly payment. . .

    TNX ADMIN 4 THE RESPONSE GODBLESS

  63. How many months does it takes for the approval of a housing loan? let say Home improvement… when will know the notice of approval or dis approval? thanks

  64. i’m a 1 year old member of pag ibig, and im planning to increase my contribution as much as php 1000 a month. what beneficial should i get from doing this? tnx in advanced.

  65. hi admin.

    i would just like to ask if i could take out a bank loan to cover the 20% equity and then apply a pagibig loan for the 80% balance?

  66. Hello Admin,
    I would just like to ask a question coming from an individual seller. We have our property for sale and the buyer has applied for a loan with Pagibig to pay us in full. We helped him with all the requirements and he was able to get a loan approved. We were also given a copy of the letter of guaranty from Pagibig which is real good news for us and the buyer. However, my question is this. One of the requirements is for buyer to submit the TCT under their name and a deed of sale in their favor. If we give the original title to the buyer and sign the deed of sale as if we have been paid, what is our protection? I mean, from the time he has the title changed under his name and the time he submits this to Pagibig as check release requirement, what is our protection? Are there instances that the buyer had the title changed to his name, has a copy of the deed of sale and yet does not pursue his loan…he then becomes the owner of the property leaving us unpaid? We will appreciate your guidance, we really want to sell the property but we would also like to be protected. Thank you.

  67. I have a property that is loaned to PAGIBIG. I wanted to give this property to a friend and he will assume the loan, he is also a PAGIBIG member. what are the requirement to transfer my loan to his account? thank you.

  68. hello ADMIN..
    i just want to ask if possible bang ma loan namin yong lot na hinulugan namin sa tiyahin ko worth 1M? we already paid my aunt 1/4 of the total amount ng lot & she want us na e loan nlang sa PAG-IBIG so we could pay her the remaining balance… querry ko po sir, can we use the lot tittle to have a LOAN kahit hindi pa na transfer sa name namin?

  69. Hi admin,

    You’re doing a good job answering all these queries. My fiance and I are planning to get married next year and intend to buy a condo unit. Here are my questions:

    1. Are my fiance and I entitled to a housing loan as individuals? Or will PAG-IBIG treat us as one? Meaning, can we for example loan P6M (P3M for each of us assuming max is approved)? Or just P3M?

    2. We’ve been working for 10 years now but for different employers (3 different companies). We are still eligible right because rule said we should be members for at least 24 months or have made 24 monthly contributions. We’ve made more than that. We were told kasi before that it has to be contributions, meaning no gaps. Eh we’ve had 3-4 months vacations t in between jobs within 10 years. Please tell us we’re still eligible!! 🙂

    3. We’re both starting work with a new employer. My fiance’s monthly salary is P35,000 while mine is P100,000. If i understand the Loan Entitlement table right, I am entitled to max of P3M loan (based on P100,000 monthly salary) or should it be monthly salary less taxes?

    Sorry i have a lot of questions – our Human Resources officer does not know a thing! Looking forward to your reply. Many thanks! 🙂

  70. Hi admin, member ako ng pagibig for more than 2yrs na, ask ko lng kng mg loan ka para patayo ng bahay, pero ung lupa sa parent ko, pwede ba un? kung pwede naman… How long naman ung proseso ng requirements, OFW ako, uuwi ako ngayong Dec. for vacation, so I planned to build a house but my money is not enough so, plano ko kung pwede iloan ko sa pagibig ang kulang… Looking forward to your reply. Thanks!

  71. gud day sir,member po ako ng pag-ibig,ask ko lang po kung pwede ko po ba i-loan sa pag-ibig yung tittle ng lupa na sinanla ng mother ng asawa ng ate ko.gusto na po ng mother nya mkuha yung tittle ng lupa pro wala syang pera kya po sbi nya sa akin n ako nlang po mghanap ng paraan para mbayaran n yung nasanla nya,sayang po daw kc pgmaremate lang,500k lang po ang amt. 7hectare po yun, sa malungon,general santos city po yung place,.lupang taniman po yun..if pwde po anu po ba mga requirements?may business ako ngayon at malapit n akong mag 2yrs.member ng pag-ibig.pls.reply po sir,tnx po.

  72. Hello! I’m an OFW here in China. I just got here last year, Sept. Prior to my job here, I was employed in the Philippines and was a member of Pag-ibig since 2004 until I left the country in Aug. Since then, I haven’t made any contributions since I don’t know how to send money to Pag Ibig. Last month, I decided to buy a condominium unit. What should I do to avail the housing loan? Do I need to be a member of the OFW Pag-ibig program to avail the loan? What about my contributions since 2004 till 2011?? The only loan I had was my salary loan back then. plese help.

  73. hi admin,
    good day!may tanong lang po ako,kumuha po kasi kami ng husband ko ng inhouse financing na 138sqm lot lang po corner po for 5yrs term, may kasunduan po na pagnaka kalahati na ung payment sa TCP pwede na umpisahan patayuan,so balak po kc namin if incase na dumating ung time na nkakalahati na kami uumpisahan na namin muna then pasok na sa pag ibig ung loan po sa pagpapagawa ng bahay, pwede po ba yun?

  75. Sir i have existing loan in Pag ibig. I got house and lot and it goes to pag ibig 5 year terms of payment. I finish two years and i am planning to pay the remaining 3 years in cash basis. I just want to know if the whole amount left is the same amount i will pay for example 300,000? or the ineterest will be deducted? what will be the procedure or computation for my case. Please help me. Thanks, – Weng

  76. hello admin…

    my husband is a public school teacher..my parents bought a lot,we plan to put up an apartment out of that lot..parang family business ba..sa parents ko yung lot samin nman yung money png pa tayo ng 4 or 5 door apartment..is it possible..my father works abroad kc he will be helping us to build the apartment..sayang yung lot kc ilng years ng nkatenga..can my husband loan for about 1.5 million..how much will be d monthly deduction? hope you can shed a light on this matter

  77. @aileen:
    In your case, here are the most important things to remember:

    1. The lot title must be in the name of the member-borrower, your husband.

    2. The maximum loan amount is 3M, but the borrowers income plays a big factor in the evaluation process.
    Read this article:

    https://www.pagibigfinancing.com/articles/2011/how-your-income-and-contributions-affect-your-housing-loan-entitlement/

    @weng:
    Please request for a computation there at the office. You should be paying only the outstanding balance.

    @Desiderio:
    Please follow it up at the branch where you applied for the loan.

    @ezra06:
    Yes, that’s possible. But the title must be clear.

  78. hello admin,

    i was a member of pag-ibig for 14 yrs.. i had an outstanding salary loan with pag-ibig before i stop working last april 2010. my question is can i continue to be a member despite the fact that i already stop remitting contributions for 2 yrs now? i planed to pay my loan personally here in Cebu is it still possible? if it is, once i paid completely my outstanding salary loan, and continue my membership starting again this yr 2012, can i still apply for a housing loan or a house repair loan? pls kindly clarify.

    thank you very much

  79. Hello,

    I acquired a lot in Antipolo for P1m 2 years ago thru pag-ibig payable in 10 yrs. Can I start to construct a house though I have just paid 2 yrs?

    Also, I bought a house and lot last month worth P2.5m in Cavite thru in-house payable in 5 years. Can I fully pay the loan in Antipolo lot and apply for refinancing this house and lot to pag-ibig inorder to lessen the interest and extend the term?

    Thanks,
    Michael

  80. Hi I have a question, I am confused with the amount if I get a housing loan of 750,000 and i am told that my monthly payment is 4,989.77 for a 30 yr loan i will be paying twice the amount of what i original loaned, how is the computation for this? the thing is my loan is being processed by the developer and the 4,989.77 is the monthly payment i was quoted. please help

    Thanks,

  81. How long will it take to know if my loan is approved?
    And after the approval, how long will it take for Pag-ibig to release the check?

  82. I wish to apply for a housing loan, based on the maximum loanable about, i just want to know how much is the interest rate per annum payable for 15 years.

    • Teresa,

      There is a new rate of interest already and the maximum is up to 6M. We’ll be posting a new article on that topic. So please visit us again.

  83. Required po ba magdownpayment s pagibig housing loan? s bank kc kelangan ng 20% DP for housing loan.
    Thanks a lot!

  84. Hi Admin,

    I just would like to ask if pag-ibig offers loan to purchase a lot and contruction of the house all at the same application. Or only puchase of lot or construction or completion of a residential unit on a lot ownedby the member. If yes, on the first how much can you loan? If not, does it because you require that the lot should be under the name of the buyer before constructing the house? Appreciate your quick response. Thanks!

  85. Hi admin..
    gusto ko pong iloan yung bahay ko pero may kulang pa akong 100th. sa real state .. Pwede ko po bang ma iloan ito sa pagibig ..Ano po ba ang dapat kong gawin.. Member po ako ng pagibig pero 6mnth lang ang nahulog ko.. salamat po.

  86. Hi Admin,

    Question lang po… Nakasanla po sa bangko yung house and lot ko po sa Cainta Greenpark.
    Bale yung loan po ay House Renovation pero hindi po natuloy dahil nagkaroon po kami problema and yung money na na loan (900K) nagastos po para ayusin yung problema namin.

    Pagibig member na po ako since 2006.
    Ano po bang klase ng pagibig loan program ang dapat kong i-apply para po mabayaran yung existing renovation loan ko sa bangko and also ma renovate na din po yung bahay ko.

    Maraming salamat po!

  87. hi admin
    gusto ko kasing kumuha ng bahay ito kasi yun sabi ng developer the amount ng bahay is 584 thousand babayad ako ng processing fee daw.. 25k pero sabi nya e endures nya sa pag-ibig at e upraise so baba daw upraisal rate baba din monthly ko.. confuse ako