Pag-ibig Housing Loan

[Peejon]

pwede naman magloan sa pag-ibig kahit na hindi sa pangalan mo yung lot... you just need a special power of attorney document from your mother in law. may seminar yung pag-ibig every weekend (meron din weekdays kaya lang mas convenient na weekend if working ka) where they answer questions like these... and requirement din naman yung seminar before ka makapag-loan so you might as well attend it now don sya sa atrium sa may makati, 9 AM yata on Saturdays.

[berzerx]

The title we used as loan for collateral (pag-ibig) has my name and my brother's. We executed a special power of attorney for it so I could get the loadn. No hassles naman. I applied in June, got the initial loan( staggered) in August (Pag-ibig is strict though if you have missing information and docs, and discrepancies). So better to complete the requirements prior to submission. Part of the requirements before the loan application is to attend the seminar (with validity of 6 months during our time). That would be a good venue to raise your concerns.

As for the loanable amount, there's a criteria that they use (i.e. % value of your collateral, net disposable income, etc.) At the site of pag-ibig there's a mortgage calculator you can use which is pretty easy to follow. Again, these will be discussed in the two hour seminar. Hope this helps.

[voozaw]

The title we used as loan for collateral (pag-ibig) has my name and my brother's. We executed a special power of attorney for it so I could get the loadn. No hassles naman. I applied in June, got the initial loan( staggered) in August (Pag-ibig is strict though if you have missing information and docs, and discrepancies). So better to complete the requirements prior to submission. Part of the requirements before the loan application is to attend the seminar (with validity of 6 months during our time). That would be a good venue to raise your concerns.

As for the loanable amount, there's a criteria that they use (i.e. % value of your collateral, net disposable income, etc.) At the site of pag-ibig there's a mortgage calculator you can use which is pretty easy to follow. Again, these will be discussed in the two hour seminar. Hope this helps.

Ask ko lang pag makapirma ng SPA kelangan pa rin ba maibigay yung copy ng title? original copy ba or xerox copy ang kukunin?

[berzerx]

Both. In the initial application you give a certified true copy from the registry of deeds. Then before the initial take out you give the original (annotated copy).

[jovhelle]

@voozaw: i suggest you forget about that lot.... mas gagaan ang buhay nyo mag-asawa.. promise! heehheh.... there are housing projects na NO DOWN, NO EQUITY.. just pay the reservation fee, submit the complete requirements, the developer will take care of the processing.... once your loan has been approved by Pag-ibig, monthly amortization na lang ang iisipin nyo. sa cavite madaming ganun (no down, no equity), i think sa laguna din and bulacan meron.

again, forget about your husband's share dun sa lupa... get your own house and lot. pag wala na *** byenan mo at hinati-hati na nung magkakapatid *** mana, tangapin nyo na lang *** share nya. kase gulo talaga yan eh. ako, i always tell myself na hindi ako tatanggap ng kahit anong tulong sa in-laws ko... sabihin na nilang mayabang ako at mapride, basta ayoko na balang araw eh susumbatan nila ako dahil sa mga naitulong nila. with God's grace, nairaos ko naman *** isang normal delivery at isang CS ng wife ko and ngayon we have our own townhouse without any help from my in-laws.... all thanks to God... and my family.. hehheh...

(im using my wife's account right now... = )

[sassyandbrat]

do not make your life complicated, buy your own investment. kahit maliit basta sarili ninyong house walang ibang name sa title name niyo lang.

[Arthur_F]

Hello po. may tao po ba dito

[Arthur_F]

may question po sana ako regards sa cloa title for pag-ibig.. pwede po bang i-loan un? residential lot na siya, *** title na grant last 1994. please kung may alam po kayo, kindly e-mail me sa dusky_mac1982@yahoo.com... Thanks po..

[CebuRealEstateHo]

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[beckycuevas]

i also want to avail of a housing loan from pag-ibig. i have also attended the seminar and also preparing the requirements.

is there a guarantee that one can be approved for a home loan?
anyone here who can give advise on how long before a loan is approved?

thanks!

Because of GA Scam, HDMF have been very strict, we applied last year before GA Scam, a month later, it was approved, it also depends if your applying with developer assisted window or if u are individual filer., (GA-Globe Asiatique, FYI )

[beckycuevas]

i also want to avail of a housing loan from pag-ibig. i have also attended the seminar and also preparing the requirements.

is there a guarantee that one can be approved for a home loan?
anyone here who can give advise on how long before a loan is approved?

thanks!

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[wow_gorgeous]

hi tita_kikay! haven't attended the pag ibig seminar... would it be possible for you or anyone here to post the requirements na kailangan? para magka-idea din kami we're still deciding kung pag-ibig o bank loan eh...

hope to hear from you guys soon! thanks in advance!

[CebuRealEstateHo]

Affordable Luxury Homes for "SEAMAN" and family in Cebu Philippines.

http://www.facebook.com/pages/CEBU-PAGE/206542952698730

[feeler]

We are going to apply for a Pag Ibig Loan in May aantayin ko lang yung increase ni misis.Supposedly I will be applying for the loan,unfortunately my company's site in Makati closed just this month.
So no choice but to have her as the applicant for the loan and yung loan amount na maibibigay sa min definitely smaller.

[wow_gorgeous]

hi everyone! i have a question... pardon my ignorance... hehehe

let's say our pag-ibig loan gets approved...tapos we go on na with the construction of our home... when do we start making monthly payments for the loaned amount? do we start making payments when the house is complete... or do we start making payments when the loan is approved... help

thanks in advance!

[garckerr]

Nowadays, The bank lending rates are actually better than Pag-ibig. and the requirements are less stringent.

I was able to borrow money from one bank at much less than that of Pag-ibig

[wow_gorgeous]

Nowadays, The bank lending rates are actually better than Pag-ibig. and the requirements are less stringent.

I was able to borrow money from one bank at much less than that of Pag-ibig

really? OT: saang bank yung alam mo na may better rates? kasi sa bpi and bdo medyo mataas eh suggest naman kayo so we can check them out tia!

[NeoAnderson88]

really? OT: saang bank yung alam mo na may better rates? kasi sa bpi and bdo medyo mataas eh suggest naman kayo so we can check them out tia!

Pag-IBIG's interest rates depends on how much your loan is. Currently, it ranges from 6% to 11.5%. And the maximum interest rate at Pag-IBIG is 12.5%. (If I remember correctly). You can verify this from the Pag-IBIG website.

Banks' interest rates usually depends on the repricing schemes. Usually 1-3 year repricings have lower interest rates.

As of December 2010, Metrobank's 3-year repricing is at 7.75%, while BDO was at 7.88% (though I heard BDO's rates have increased already). PSBank has the lowest rates for long term repricing or long term loans.

You can either check the banks' websites or call a branch or the head office.

One advantage of Pag-IBIG, according to those who have loaned already, Pag-IBIG will not immediately foreclosed your property if you are delinquent on your payments. Sa banks daw, sobrang bilis mambawi ng property, malate ka lang ng ilang buwan.

[paolorenzo]

From what I remember, ok ang Pag-Ibig for loans up to 1M. For loans 1-2M, comparable rates with banks. Pero for loans greater than 2M, mas ok ang bank rates.

PSBank rates today yata is around 9.5% per annum?

[NeoAnderson88]

Pag-IBIG interest rates per annum are as follows for the following loan amounts in Philippine pesos:

50,000-400,000 --> 6%
450,000-750,000 --> 7%
800,000-1,000,000 --> 8.5%
1,050,000-1,250,000 --> 9.5%
1,300,000-2,000,000 --> 10.5%
2,050,000-3,000,000--> 11.5%

Prevailing banking interest rates is also a factor. If I remember correctly from the seminar, Pag-IBIG's maximum interest rate is at 12.5%

House and Lots worth 3 million pesos, apparently, are still categorized as low cost housing.