Guide on Pag-IBIG Housing Loan Offer Application
PAG-IBIG HOUSING LOAN – Here is a comprehensive guide in applying for this loan offer of Pag-IBIG Fund for eligible members.
A lot of Pinoys are active members of Pag-IBIG Fund, a government agency that has helped many of its members acquire a residential property in an affordable way. It is through the loan offer of the government agency that is open for financing any of the following:
- a residential property purchase
- house construction
- home renovation
- home loan take-out
Under the Pag-IBIG Housing Loan offer, the member-borrower may repay the loan for up to 30 years. That is why members really have the option to fit the term that won’t be financially burdensome to them.
Do you want to check on the loanable amounts under the offer? Kindly visit – Pag-IBIG Housing Loan: Here’s How Much You May Borrow under it.
How to Apply for Pag-IBIG Housing Loan
Step 1 – Check the qualifications. To be eligible to apply for the loan offer, the member-borrower must:
- have posted at least 24 monthly savings
- be 65 years old and below upon the loan application and not more than 70 years old upon the loan maturity
- having no outstanding Pag-IBIG Short-Term Loan in arrears
- have no loan foreclosed, cancelled, or bought back due to default
Step 2 – Prepare the documents. Like in other loans even with other entities, the loan application for Pag-IBIG Housing Loan also requires some documentary requirements for submission. To check on the specific documents needed in applying for the loan offer, you may visit –
Requirements for Pag-IBIG Housing Loan – Here’s What You Will Need to Apply.
Step 3 – Visit a branch of Pag-IBIG Fund. Go to an office of the government agency nearest to you and submit your documents. The loan processing will take a few weeks. Wait for an update from the Fund.
READ ALSO: Pag-IBIG Calamity Loan: Here’s How Much You May Borrow under the Offer