Guide on the Pag-IBIG Fund Housing Loan 2023 Application Process
PAG-IBIG FUND HOUSING LOAN 2023 – Outlined below are the steps in applying for the loan offer of the government fund to eligible members.
Are you looking for a loan offer that can help you get your dream house or, at least, a home you can call your own? If you are a member of the Pag-IBIG Fund, you can actually turn to the government agency for financial assistance.
The Pag-IBIG Fund offers a Housing Loan that serves multiple purposes. You may apply for it for the financing of a purchase of a vacant lot or a residential unit, house construction, home renovation, lot purchase with house construction, and refinancing of an existing home loan.
With regards to the loanable amounts under the Pag-IBIG Housing Loan 2023, the government has detailed the maximum borrowing amounts under the offer. The maximum loan term is 30 years.
With regards to the Pag-IBIG Housing Loan 2023 interest rate, it depends on the repricing period that you have chosen. If you are interested to apply for the Pag-IBIG Fund Housing Loan 2023 offer, here are the steps that you may borrow:
Step 1 – Ensure your Qualification to the Loan
Make sure you are qualified to the loan offer. The member-borrower must meet the following eligibility criteria for application:
- 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
Step 2 – Prepare the Requirements
The requirements in applying for the Pag-IBIG Fund Housing Loan 2023 depends on the purpose of your loan application. Here’s a guide…
- For Lot Purchase — Pag-IBIG Housing Loan Requirements 2023 for Purchase of Lot
- For House Construction — Pag-IBIG Housing Loan Requirements 2023 for House Construction
- For Lot Purchase & House Construction — Pag-IBIG Housing Loan Requirements 2023 for Purchase of Lot with House Construction
- For Refinancing — Pag-IBIG Housing Loan Requirements 2023 for Refinancing
Step 3 – Go to the Pag-IBIG Fund
Visit a branch of the Pag-IBIG Fund in your area and submit your documents. Make sure to bring all the original copies for presentation to the Fund.
Step 4 – Wait for an Update
The Pag-IBIG Fund updates loan applicants regarding the status of their loan application.