Pag-IBIG contribution amounts to about 100.00 pesos a month. This may not seem such a big deal especially if you are an employee earning more than the average income. But if you have been working for let’s say 10 years, that 100.00 per month, twelve months in a year for 10 years, plus your employers contribution, that already amounts to…well, a substantial amount.
Now you start to ask the question, what can I do with this substantial amount of Pag-IBIG contribution? Luckily for us, Pag-IBIG has developed so many ways to make loaning appealing to all its members.
Here, Pag-IBIG answers questions their member-customers most frequently asked about the End-user Home Financing Program (EUF). More loan types are available to active Pag-IBIG members information available on their website. You may download the full FAQ PDF by clicking on this link:
How much is the loanable amount and what is the interest rate?
A qualified member may apply for a housing loan of up to Six Million Pesos (P 6 M), which shall be based on the lowest of the following: member’s actual need, desired loan amount, loan entitlement based on capacity to pay, and the loan-to appraised value ratio. The interest rate to be charged shall be based on the chosen re-pricing period of the borrower under the Fund’s Full Risk-Based Pricing Framework.
Your Future Self will Thank you. Preselling units start at 4.5K, Anuva Residences, Preselling Condo Muntinlupa, Alabang.
What are the loan purpose?
The Pag-IBIG housing loan may be used to finance any one or a combination of the following:
- Purchase of a fully-developed residential lot or adjoining residential lots not exceeding 1,000sqm
- Purchase of a residential house and lot, townhouse or condominium unit; Construction or completion of a residential unit on a residential lot owned by the member
- Home Improvement
- Refinancing of an existing housing loan
What are the eligibility requirements?
The End-user Home Financing Program (EUF) is available to active Pag-IBIG Fund members, including OFWs who:
- Have made at least 24 monthly savings. The lump sum payment of the required 24 monthly savings is allowed.
- Are not more than 65 years old and not more than 70 years old at maturity of loan application
- Have the legal capacity to acquire and encumber real property
- Have passed satisfactory background/credit and employment/business checks of Pag-IBIG fund
- Have no outstanding Pag-IBIG Short-term Loan in arrears at the time of loan application
- Have no Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago;
- If with existing Pag-IBIG housing loan, either as principal or co buyer/borrower, it must be updated
Loan Term
The maximum repayment period for the loan is thirty (30) Years.
Processing the Pag-IBIG EUF loan by yourself would require from you alot of time and effort. The good news is, we are Pag-IBIG’s accredited developer and partner processing agency. You can course through us your Pag-IBIG applications for any of our development projects. Just present all the required documents and we will do the rest for you. You can even do this as you move in to our ready for occupancy condo units so you can sit back and relax while we do the legwork for you. Talk to us now and find out how you can use your Pag-IBIG today.
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