Step-by-Step Process for Pag-IBIG Housing Loan 2024 Application Process
PAG-IBIG HOUSING LOAN 2024 – Here is a guide for the Fund members on how to apply for the Housing Loan offer of the government office.
A lot of people even those who have huge savings in their bank accounts prefer to purchase residential properties through loans rather than buying the property in cash. They would rather save the money or invest it in businesses where it has a chance of growing. When it comes to housing loans, the Pag-IBIG Fund’s offer is one of the most popular.
Actually, among the many Pag-IBIG loans that members of the Fund may apply for, the Pag-IBIG Housing Loan offer is the most popular. It is the biggest contributor to the popularity of the government office.
Under the loan offer, a qualified member may apply for the loan to finance a 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, a house construction, a home renovation, the refinancing of an existing housing loan, or combined loan purposes
The Pag-IBIG Housing Loan loanable amounts depends on certain factors like the actual need of the borrower but the government office has set a high limit. The loan is payable for up to 30 years thus there is really a chance for light monthly installments.
The interest rates under the Pag-IBIG Housing Loan depends on the loan term. Here are the steps on how to apply for the Pag-IBIG Housing Loan 2024:
Step 1 — Check the Qualifications.
- 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
Step 2 — Prepare the Requirements.
Gather the requirements for Pag-IBIG Housing Loan application. Make sure to have all the original copies of the documents required in applying for the offer.
You can download the Pag-IBIG Housing Loan Application Form online. It can save you not only energy but as well as money and time.
Step 3 — Go to Pag-IBIG Fund.
Visit a branch of the Pag-IBIG Fund nearest to you. Submit your documents for evaluation. The loan processing may take as fast as two (2) days and you will get your money if the loan application was approved.
