Guide on Pag-IBIG Housing Loan Loanable Amounts 2024 for Qualified Members
PAG-IBIG HOUSING LOAN LOANABLE AMOUNTS 2024 – Here is a guide on how much a Pag-IBIG Fund member may borrow under the loan offer.
Are you planning to purchase a residential property but you need to find a loan provider? If you are a member of the Pag-IBIG Fund, you may turn to the said government agency. It has a Housing Loan offer that can finance several purposes related to residential properties.
Here are the purposes that are qualified under the Pag-IBIG Housing Loan offer:
- purchase of residential lot or adjoining residential lots with a maximum of 1,000 sq.m. plus cost of transfer
- purchase of residential house & lot, townhouse or condominium unit plus cost of transfer
- house construction
- home renovation
- refinancing of existing housing loan
- combined loan purposes
Under the offer, the Pag-IBIG Housing Loan loanable amounts is up to P6 million. The Fund have certain considerations with regards to the borrowing amount allowed per loan application just like the actual need of the member-borrower.
The Pag-IBIG Housing Loan loanable amount is payable for up to 30 years depending on the age of the borrower upon the loan application. Here are the qualifications set by the Fund in applying for the loan offer:
- active Pag-IBIG Fund member with least 24 months savings
- not more than 65 years old at the date of loan application and is not more than 70 years old at the date of loan maturity
- no Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
- legal capacity to acquire and encumber real property
- If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated
To apply for the loan offer, there are requirements for Pag-IBIG Housing Loan that must be submitted to the Fund. Make sure that you have all the original documents of each requirements when you visit the Pag-IBIG office for the filing of your loan application.
The Pag-IBIG staff will check the completeness of your loan requirements. He/She will check the original copies of all the documents required for the loan application. Feel free to download the Pag-IBIG Housing Loan Application Form online.