Guide on Pag-IBIG Affordable Housing Loan Offer for Members under Minimum-Wage
PAG-IBIG AFFORDABLE HOUSING LOAN 2024 – The Fund has a special Housing Loan offer for members who are minimum-wage earners.
The Pag-IBIG Fund is one of the biggest state entities in the Philippines that has helped countless Filipinos achieve a residential property of their own. Undeniably, its Housing Loan offer is one of the most popular of its kind in the country.
The regular Pag-IBIG Housing Loan is popular for its low interest rates and its affordable monthly installments that can extend up to 30 years. However, what many people are not aware of is that the Fund also has a special loan offer for minimum-wage earners members. You may avail the Pag-IBIG Affordable Housing Loan specially-crafted for minimum-wage earners.
Under the Pag-IBIG Affordable Housing Loan offer for minimum-wage earners, a member may enjoy a monthly payment of as low as Php 2,445.30 per month. The loan term can be extended to up to 30 years.
The Pag-IBIG Affordable Housing Loan is ready to finance several purposes. You may apply for the loan offer to finance any of the following:
- purchase (plus cost of transfer) of residential lot or adjoining residential lots (max 1,000 sq.m.)
- house construction
- 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
- house improvement
- refinancing of an existing housing loan
- combined loan purposes
The Pag-IBIG Fund accepts a clean title under the loan offer. The state-run social insurance entity does not accept rights and free patents not covered by the Republic Act 10023 as collaterals. The state entity also does not accept collateral documents with disputes or claims in the court.
The Pag-IBIG Housing Loan offer is open for locally-employed and self-employed members as well as overseas Filipino workers (OFWs). There are varying requirements for application. You may check the following:
- Pag-IBIG Affordable Housing Loan Requirements for OFW Members