Details about the Pag-IBIG Housing Loan Approval Time Duration for Application Processing
PAG-IBIG HOUSING LOAN APPROVAL TIME – Here is a guide on the processing time of application for Pag-IBIG Housing Loan.
A lot of Filipino families are living in their own house now with the help of the services provided by Pag-IBIG Fund. One of their members has been an active member of the social insurance institution for at least 24 months and decided to apply for a housing loan.
The Pag-IBIG Fund is popular for its housing loan offers. It can help you acquire a residential property including a house and lot and a condominium unit. You may also apply for the financing of a house construction or a home renovation. You may also apply for a take out of an existing home loan to a bank or another financing institution.
If you are a member of Pag-IBIG Fund, the government agency has set up to P6 million as the loanable amount in borrowing money for a housing loan. The approved amount will surely depend on the member-applicant’s capacity to pay for the monthly amortization.
Pag-IBIG Fund also considers several other factors in granting a loan to a member. It checks on the stability of the income of the member-applicant, the amount of gross earning monthly, and the status of his or her existing loans.
How long is the Pag-IBIG Housing Loan approval time? The processing of your loan application may take 20 days.
Out of the 20 days allowance as Pag-IBIG Housing Loan approval time, 17 of which are intended for the processing as long as you submitted complete housing loan documents. You can go for an online application.
To check on the requirements that you need to submit online, you may visit – Requirements for Pag-IBIG Housing Loan Online Application.
You may also visit – Pag-IBIG Housing Loan Application Forms for Principal Borrower & Co-Borrower