Details about the Pag-IBIG Housing Loan Amount 2023
PAG-IBIG HOUSING LOAN AMOUNT 2023 – You can check the details below as a guide on how much you may borrow under the Pag-IBIG Fund offer.
When it comes to housing loans, one of the most popular entities is the Pag-IBIG Fund. Millions of Filipinos are members of this government agency that has stood for decades now and help countless Pinoys get residential properties in affordable schemes.
The Pag-IBIG members contribute a monthly savings in their accounts to maintain an updated account. If you have posted at least 24 monthly savings in your account, you may qualify for the Housing Loan offer of the government agency.
Under the Housing Loan offer of the Pag-IBIG Fund, you may apply for a loan for the purpose of financing any of the following purposes:
- Purchase (plus cost of transfer) of residential lot or adjoining residential lots (max 1,000 sq.m.)
- Purchase (plus cost of transfer) of residential house & lot, townhouse or condominium unit (old or brand new, property mortgaged w/ the Fund, adjoining houses/units) inclusive of a parking slot
- Construction of house
- House improvement
- Refinancing of an existing housing loan
- Combined Loan Purposes
With regards to the Pag-IBIG Housing Loan amount 2023, the maximum borrowing amount allowed by the Fund is P6 million. You can apply for the loan offer with a co-borrower for bigger loanable amounts.
All loan applications are subject to the approval of the Fund. You must pass the eligibility criteria and submit the documentary requirements for the Pag-IBIG Housing Loan application. To qualify, the member-borrower must meet the following criteria for qualification:
- active member with least 24 months savings
- not more than 65 years old at the date of loan application
- not more than 70 years old at the date of loan maturity
- Legal capacity to acquire and encumber real property
- No Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
- If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated
For the purpose financing a lot purchase, there are documentary requirements for the Pag-IBIG Housing Loan 2023 application that you must prepare. Submit the documents to a branch of the Fund nearest to you for the application.
The Pag-IBIG Fund will assess your loan application. Wait for a notice or update from the Fund regarding the result.
