To help you claim the brand new view/financing proceeds, expose 2 legitimate IDs (come across conditions part to possess a list of legitimate IDs accepted by Pag IBIG) during the Dollars-Disbursement Division-Money Help Qualities Institution/People Features Part.
- A 3rd party affiliate so long as he/she submits an effective notarized Unique Stamina off Attorney (SPA) and you may 2 valid IDs all the dominant debtor as well as the representative/Attorney-in-Truth.
- The seller, should your financing mission is just one of the after the: Purchase of Domestic Device, Lot Get, or Acquisition of Package and Design away from Domestic.
The fresh borrower will additionally be required to bring several PDCs (post-old inspections) in case your percentage is not as a consequence of paycheck deduction (see step two to find out more).
8. Start Spending The Month-to-month Amortization
Amortization is defined as the process of dispersed away a loan (in this instance, a good Pag IBIG houses financing) on the a few repaired repayments over the years.
It refers to the monthly obligations which you’ll produce the latest 2nd upcoming days and ages to pay off the newest Pag IBIG construction financing.
good. Commission As a consequence of Post-Dated Monitors (PDCs)
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If you undertake this, you will want to situation and you will submit a dozen blog post-dated monitors for the Pag IBIG Fund up on loan launch. This type of monitors will cover one-12 months month-to-month amortization.
Go back to the fresh Pag IBIG through to usage of the latest ten PDCs (personal of left 2) so you can topic a different a dozen monitors.
b. Fee Owing to Salary Deduction
For individuals who opt for amortization fee through income deduction (because so many Filipino staff do), you need to fill in Power so you’re able to Subtract on the Asking Department/Account Government and you will Battery charging Agency/Money Government and you may RecoveryHousing Providers Cardio/Members Qualities Branch.
c. Almost every other Settings off Commission
- Vehicle debit plan with banks.
- Qualified range partners (available for both local and you may overseas remittance).
- Commission so you’re able to a certified designer having a portfolio Servicing Contract having the newest Pag IBIG Funds.
- Other ways of fee your Pag IBIG Financing could possibly get implement subsequently.
Info and you will Cautions
an effective. Even as we try our very own better to answer every you’ll concerns in the this guide, you should also look into the latest dates of one’s Pag IBIG Construction Mortgage positioning system on their Myspace web page.
Within system, which is held once or twice a year within the particular Pag IBIG twigs and you will venues, you might address your issues to the latest Pag IBIG group.
b. Same as while you are trying to get credit cards, your credit rating can also be analyzed inside the evaluation away from the Pag IBIG homes application for the loan.
Make sure your credit history is upwards-to-go out, precise, and actually stained by delinquent debts. You can safer a free backup of one’s credit history regarding the financing Recommendations Corporation (CIC) otherwise any of the qualified credit agencies.
c. You should never see Pag IBIG empty-given. Before you apply getting a houses loan, you ought to have secured about 20% of your property’s worth for the downpayment.
The higher the fresh down-payment you can afford, the much more likely their casing loan application gets acknowledged. Additionally reduce your interest, month-to-month mortgage, loan-to-really worth ratio, and you can financing identity.
d. Into the functioning, the answer to providing acknowledged is always to direct you features good good a career record. Jobs hopping and you may openings on your a job history can be seen while the warning flags. A position tenure form earnings balance and also the ability to repay their homes mortgage.
age. When you find yourself afraid you may not end up being certified due to not enough earnings, encourage someone that have an everyday job and a good credit score background so you’re able to take you because a good co-borrower.
f. Carefully determine your income and determine simply how much of it you could potentially set aside having monthly amortization. Essentially, the borrowed funds amount cannot exceed their three-season paycheck, when you find yourself their financial or monthly amortization should not exceed 20-30% of your own gross month-to-month money.