So you can claim the new look at/financing continues, present 2 valid IDs (discover conditions part to possess a listing of legitimate IDs approved by Pag IBIG) during the Dollars-Disbursement Department-Fund Help Characteristics Agencies/Members Functions Department.

• An authorized member so long as the guy/she submits an effective notarized Special Energy of Attorneys (SPA) and you may 2 legitimate IDs each one of the dominating borrower and representative/Attorney-in-Facts.
• The seller, in the event your financing goal is amongst the following the: Acquisition of Residential Equipment, Package Purchase, or Purchase of Package and you may Framework regarding Home.

The brand new borrower can also be needed to promote 12 PDCs (post-dated inspections) should your commission isn’t thanks to paycheck deduction (see second step for more information).

8. Begin Spending Their Month-to-month Amortization

Amortization is described as the whole process of spread aside a loan (in cases like this, an effective Pag IBIG construction loan) for the a series of repaired repayments throughout the years.

It refers to the monthly obligations which you yourself can produce the fresh 2nd upcoming months and decades to pay off the brand new Pag IBIG houses financing.

an effective. Percentage Because of Blog post-Dated Inspections (PDCs)

If you undertake that it, you ought to topic and you will complete 12 post-dated monitors for the Pag IBIG Money abreast of mortgage release. Such checks will cover 1-12 months month-to-month amortization.

Return to the brand new Pag IBIG abreast of consumption of the newest ten PDCs (private of one’s remaining 2) to help you thing another 12 inspections.

b. Fee As a consequence of Salary Deduction

For many who go for amortization payment via income deduction (as most Filipino group manage), you really need to fill out Expert so you’re able to Deduct on the Billing Department/Levels Administration and Charging you Agency/Finance Administration and you can RecoveryHousing Providers Cardio/Participants Qualities Branch.

c. Most other Methods off Fee

• Auto debit plan having banking institutions.
• Licensed collection partners (available for one another regional and you can overseas remittance).
• Fee so you’re able to an accredited designer which have a portfolio Repair Arrangement which have the fresh Pag IBIG Financing.
• Most other types of fee that the Pag IBIG Financing could possibly get use afterwards.

Information and Warnings

a great. While we try all of our better to address americash loans Fort Rucker the you’ll be able to issues inside this guide, it’s also advisable to be on the lookout towards most recent dates of Pag IBIG Casing Mortgage orientation system to their Facebook webpage.

Within system, that’s held once or twice a year inside certain Pag IBIG branches and sites, you could address the inquiries to the brand new Pag IBIG professionals.

b. Identical to when you find yourself applying for a credit card, your credit rating can also be assessed inside the evaluation out of their Pag IBIG casing loan application.

Make sure that your credit score try up-to-date, precise, and you will actually discolored of the unpaid expense. You could potentially safe a free content of the credit score regarding the credit Advice Enterprise (CIC) or any kind of its qualified credit bureaus.

c. Do not see Pag IBIG empty-passed. Before you apply getting a homes loan, you will want to currently have saved up at the very least 20% of property’s worthy of for the advance payment.

The higher the fresh new advance payment you can afford, a lot more likely the houses application for the loan gets accepted. Additionally decrease your interest rate, monthly financial, loan-to-worth proportion, and you may loan label.

d. To your operating, the secret to providing accepted is to try to make suggestions has a good solid a position history. Business jumping and you will holes on your own a job history may be seen because red flags. A career tenure mode money balance and the ability to pay off your own construction financing.

age. While you are scared you do not end up being certified because of not enough money, convince somebody with a consistent employment and you can a good credit score background in order to elevates since the an effective co-debtor.

f. Very carefully determine your money and see exactly how much of it you might reserved to own monthly amortization. Ideally, the borrowed funds amount cannot exceed the about three-season paycheck, when you find yourself your home loan otherwise monthly amortization cannot meet or exceed 20-30% of the gross monthly money.