The home development collective fund( HDMF), also known as PAG- IBIG( Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya at Gobyerno) Fund. It’s a government-possessed and controlled pot under the Department of Human agreements and Urban Development of the Philippines responsible for the administration of the public savings program and affordable sanctum backing for Filipinos.
ARE YOU ELIGIBLE TO Advantage THE LOAN?
To be suitable to mileage the loan you need to meet the following criteria
You should be an active member with at least 24 months of savings
Your age shouldn’t be further than 65 times old at the date of loan operation and shouldn’t be further than 70 times old at the date of loan maturity.
You should have the legal capacity to acquire and encumber real property.
No Pag- IBIG casing loan should have been foreclosed, canceled, bought back, or freely surrendered by you.
If you wish to take the loan with being Pag- IBIG Housing account or Short Term Loan( STL), all the former payments must be streamlined to date.
TYPES OF LOANS
Housing loan
Short-term loan
Multipurpose loan
Disaster loan
Provident savings
PAG- IBIG MPII
REQUIREMENTS TO APPLY FOR PAG- IBIG LOAN
Fill a casing loan operation.
Have the vicinity chart of the property.
You’re needed to have evidence of income
A streamlined duty protestation and duty damage.
All the valid ids are needed for the same.
A certified true copy of the title.
All fresh conditions for loan purposes.
STEPS TO APPLY FOR A HOUSING LOAN
Complete all the conditions to apply for a PAG- IBIG casing loan.
After completing your conditions, you need to submit your PAG- IBIG casing loan operation
If your operation is complete and in the order you’ll admit your notice of blessing( NOA) and a letter of guarantee( LOG)
The coming step is to fulfill all the conditions stated in the notice of blessing( NOA), all of which should be done within 90 timetable days including the transfer of title and reflection of the mortgage.
Upon submission of all the post blessing conditions and completing all the formalities, you’ll admit the proceeds of your loan within 10 working days. You’ll be notified on how your loan shall do and shall be released safely and accessibly.
You can now start paying back after 1 month after the loan release date. Keep in mind your endless casing loan account number, and the 12 number LAN while paying. You can accessibly pay via their online virtual runner or via their accredited collecting mate outlets or their online installations like bill pay, AUB, Metrobank, etc for original and cashpinas, Iremit, etc for overseas payments.
CONCLUSION
A house of our own is a different feeling altogether. Having a roof over our head doesn’t only save us from heat, storms, etc it also gives us a sense of belongingness and safety. This is why PAG- IBIG loans play a big part in people’s life.
