Pag-IBIG Housing Loan Interest 2024 Member-Borrowers Must Be Aware Of

Guide on the Pag-IBIG Housing Loan Interest 2024 For Member Accounts

PAG-IBIG HOUSING LOAN INTEREST 2024 – You can check here the details regarding the interest rate set by the Pag-IBIG Fund.

Are you looking for a Housing Loan offer? If you are a member of the Pag-IBIG Fund, the agency which is under the government has a Housing Loan offer that can cater to several purposes related to residential properties. It is even open for combined loan purposes.

Pag-IBIG Fund
Photo Credit: CNN Philippines

The Pag-IBIG Housing Loan offer is open to finance the purchase of a fully developed residential lot, residential house and lot, townhouse or condominium unit; house construction; home renovation; and home loan take-out. As mentioned earlier, a member may apply for combined loan purposes like the financing of a lot purchase and house construction.

Pag-IBIG Housing Loan Interest 2024
Photo Credit: Altus Group

Under the Pag-IBIG Housing Loan offer, the institution has set a list of eligibility criteria for application. Here are the qualifications that the member-loan applicant must meet to be eligible to apply for the loan offer:

  • has posted at least twenty-four (24) monthly membership savings
  • age of not more than sixty-five (65) years at the date of application and not more than seventy (70) years at maturity of the loan
  • has the legal capacity to encumber real property
  • possesses the ability to pass satisfactory background / credit and employment / business checks of Pag-IBIG Fund
  • has no outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of the loan application
  • has no Pag-IBIG Housing Loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago
  • If with an existing Pag-IBIG Housing Loan as a principal buyer / borrower or co-buyer / co-borrower, the account must be updated

The loanable amount under the Pag-IBIG Housing Loan offer vary depending on certain factors like the actual need of the member-borrower and his/her capacity to pay. The Fund assesses the value of the residential property involved in the loan application as well.

The loan is payable for up to 30 years depending on the current age of the member-borrower upon the time of the loan application. It is subject to the Pag-IBIG Housing Loan interest rate which depends on the fixing period set under the loan offer.

Here are the Pag-IBIG Housing Loan interest rates based on the fixing period:

1-Year Fixing5.750%
3-Year Fixing6.375%
5-Year Fixing6.625%
10-Year Fixing7.375%
15-Year Fixing8.000%
20-Year Fixing8.625%
25-Year Fixing9.375%
30-Year Fixing10.000%

To apply for the loan offer, prepare and submit the requirements for Pag-IBIG Housing Loan application. Make sure to prepare all the original copies of each document required by the lender.

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