Buying a house through PagIbig financing - Please share your experiences

KaboomskieKaboomskie Expendable PExer
I've had my share of PagIbig contributions for more than 2 years na and I'm considering buying my own house that I can avail through PagIbig. I would like to have feedbacks and hear stories of how you were able to buy your houses using PagIbig. I'd like to do some more research and hear your stories before talking to an agent.

If you have tips and suggestions for me and even for our fellow pexers who are planning to buy a house also and use PagIbig, please feel free to share.

Thanks in advance!

Comments

  • sentrysentry Zerg Lurker PExer
    based on my experience (fyi ofw ako, if it matters to you):

    finance:
    - loan amount of 1M and below, mura interest sa pagibig, else comparable lang sa bank, and even higher at loan amounts >2M.
    Research the current interest since alam ko bumaba na interest sa banks.

    - matagal sa pagibig ang processing kasi mabusisi daw. Sa akin, developer na nag asikaso ng loan application, more than 3 months yata inabot. For me, malaking tulong kung developer mag-aasikaso since ofw ako. hassle lang yung recomputations, since nung di pa approved ang loan, nagbayad kami ng filler, and so on. simply put, be ready to review your maths.

    flexibility:

    I guess ang isang advantage sa pag-ibig is hindi sila strict sa pag-remata if ever tight sa budget. Unlike banks na 3 months lang, foreclosed na bahay mo. Ito ang nabasa kong opinion lang din.

    If you are on the other side of the financial group, madali din ang capital repayment sa kanila.
    Though sa tingin ko same lang sa bank so no advantage there unless naka-lock-in ka.
  • KaboomskieKaboomskie Expendable PExer
    If I may ask bro, which subdivision ka nakabili ng bahay?

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