Check Here the Pag-IBIG Loans 2024 for the Members
PAG-IBIG LOANS 2024 – Here is a guide on the Pag-IBIG Fund offers that the qualified members may apply for and their features.
Are you one of the millions of members of the Pag-IBIG Fund? Truth be told that many people are members of this government entity as a membership to the state entity is mandated at work but lots of individuals are quite not well-versed about the benefits of their membership.
The Pag-IBIG Fund has several offers that attend to financially-challenging situations. These are loans which can help you buy a house, address your cash needs, or be an option that you can turn to in times when a natural disaster has struck your place. You can check on these offers below.
Each of the loan offers of the Pag-IBIG Fund has its own set of eligibility criteria for application. You can visit each of the offers to know about their loanable amounts, interest rates, and loan terms.
Pag-IBIG Housing Loan
Among the three (3) Pag-IBIG loans, the most popular offer is the Pag-IBIG Housing Loan. Under it, a qualified member may apply for the financing of a vacant lot purchase, an acquisition of a residential property, house construction, home renovation, or home loan take-out.
The Fund also accepts combined loan purposes like financing a vacant lot purchase and the construction of a house on the said lot. To qualify for the offer, here are the eligibility requirements:
- 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
- legal capacity to encumber real property
- possesses the ability to pass satisfactory background / credit and employment / business checks of Pag-IBIG Fund
- no outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of the loan application
- 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
Pag-IBIG Multi-Purpose Loan
The multi-purpose cash loan offer of the Fund is the Pag-IBIG Multi-Purpose Loan or also called MPL. It aims to provide cash for qualified members to help address their short-term financial needs. Here are the qualifications set by the Fund in applying for the loan offer:
- at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program
- in active membership, by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
- with sufficient proof of income
Pag-IBIG Calamity Loan
Also one of the Pag-IBIG loans is the Pag-IBIG Calamity Loan. As its name suggests, it is designed to help members during times when their area is under a State of Calamity. Here are the eligibility requirements that a member must meet to qualify for the loan offer:
- living or working in an area declared under a State of Calamity
- having at least one (1) monthly membership savings within the last six (6) months prior to the loan application
- having updated existing loans if there is
