Pag-IBIG Loans – Can I Apply For Cash Loan If I Have Existing Housing Loan?

Guide in Possibility of Applying for Two (2) Pag-IBIG Loans – Cash Loan & Housing Loan

PAG-IBIG LOANS – Are you wondering if you can still apply for Pag-IBIG Cash Loan if you already have an existing Pag-IBIG Housing Loan?

One of the government agencies in the Philippines with excellent loan offers to help its members is the Pag-IBIG Fund. It is greatly known for its main purpose of helping provide affordable housing to Filipino families.

There is a minimal set of eligibility qualifications in applying for the Pag-IBIG Housing Loan. To be eligible for the said offer, the applicant must be:

• an active member of Pag-IBIG Fund
• having at least 24 monthly savings in his or her Pag-IBIG account
• not more than 65 years old at the time of applying for the loan and 70 years old upon the maturity date of the loan
• capable of acquiring and encumbering a real property
• having no housing loan foreclosed, bought back, cancelled, or surrendered

Also one of the Pag-IBIG loans aside from the housing loan offer is the multi-purpose loan. Also known as the Pag-IBIG Cash Loan, it is intended for other purposes apart from acquiring a residential property.

Do you want to know who may borrow money through the Pag-IBIG Cash Loan? You may visit – PAG-IBIG LOAN – Who May Borrow Through the Pag-IBIG Multi-Purpose Loan.

The amount that you can borrow under the said cash loan offer depends on your monthly savings. You must have posted at least 24 monthly contributions. You can borrow up to 80% of your savings.

Can I Apply For Cash Loan If I Have Existing Housing Loan?

You may acquire both Pag-IBIG loans provided that upon the application for the cash loan, you have updated payments for the housing loan that you obtained. The same rule applies if you have an existing calamity loan and you wish to apply for the multi-purpose loan offer.

You might want a guide on how to apply for the Pag-IBIG Multi-Purpose Loan. Feel free to visit – PAG-IBIG LOAN – How To Apply & Requirements To Prepare.

Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.

READ ALSO: Pag-IBIG Cash Salary Loan – How To Compute the Amount You May Borrow