Guide on How To Pay for Pag-IBIG Housing Loan 2024 Monthly Amortization
PAY PAG-IBIG HOUSING LOAN 2024 – Here is a guide on the payment options for the member-borrowers of the Pag-IBIG Housing Loan.
A lot of Filipinos have turned to their Pag-IBIG account in their pursuit to achieve a target residential property. This is one of the biggest advantages in maintaining an active and updated account to the state-run entity.
The Housing Loan offer of the Pag-IBIG Fund can finance several purposes including the acquisition of a vacant lot and a residential unit, the construction of a residential property, home renovation, and home loan take-out. A member may also opt for combined loan purposes.
Who are qualified to apply for the loan offer of the Pag-IBIG Fund? There is a short list of qualifications in applying for the loan offer. Here is the set of eligibility criteria that a member-borrower must meet:
- 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
With regards to the collateral, the Pag-IBIG Fund only accepts clean Certificate of Title (TCT), Original Certificate of Title (OCT), and Condominium Certificate of Title (CCT) under the loan offer. The property must not be under any of the following circumstances which are not acceptable under the loan offer:
- Less than 28 sq. m. lot area
- Less than 18 sq. m. condominium floor area
- Properties with road right of way less than 1.5 meters
- Land types classified other than residential use
- Residential buildings must be compliant to the National Building Code, PD958 or BP220 as the case may be
There is an easy process for the Pag-IBIG Housing Loan 2024 application. You can even check the Pag-IBIG Housing Loan loanable amounts prior to applying for the offer.
With regards on how to pay for the Pag-IBIG Housing Loan monthly amortization, there are several ways that a member-borrower may choose from. Here are the options:
- Salary deduction through Employer Collection Servicing Agreement (CSA)
- Post-dated checks
- Auto debit arrangement with banks
- Accredited collection partners
- Asia United Bank (AUB)
- Landbank of the Philippines
- Globe GCash
- CashPinas
- SM Bills Pay
- Bayad Center
- UCPB
- Maya
- Metrobank
- ECPay
- Metrobank
- ECPay
- M Lhuillier
- Accredited Collection Partners
- iRemit
- Asia United Bank (AUB)
- Ventaja PayRemit
- CashPinas
- Philippine National Bank (PNB)
It is important to pay for your Pag-IBIG Housing Loan monthly due on time to avoid late payment penalties. You may be subject to a late payment fee of 1% of your loan due daily.