Wespark Realty|Philippines Real Estate

Q: I am employed in a local company and a PAGIBIG Member for less than 1 year. Am I qualified to apply for a Housing Loan?
A: Yes. PAGIBIG Members who are active in their contribution for twenty four (24) months and above are qualified to apply for a housing loan. However, new members like you who are still short of the 24-month membership requirement, shall be allowed to make lump sum payment based on the mandatory monthly membership contribution rates (both EE and ER share) to meet said requirement at point of loan application. Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the payment date.

Q: What if I have an existing property loan with PAGIBIG? Can I still avail another loan?
A: You should settle first your existing property loan before you can avail another loan.

Q: What if i have existing Salary or Multi Purpose Loan with PAGIBIG? Can i still avail property loan?
A: Yes, you can. You just need to present the CLA (Certificate of Loan Amortization) to the documentation officer handling your account.

Q: I am more than 65 years old, can I still avail of a housing loan?
A: Not anymore. You should not be more than sixty-five (65) years old at the date of loan application and must be insurable; provided further that he/she is not more than seventy (70) years old at loan maturity.

Q: How much can I borrow for the property I want to buy?
A: A qualified Pag-IBIG member shall be allowed to borrow an amount up to a maximum of Two Million Pesos (P2,000,000.00), which shall be based on the lowest of the following: the member’s actual need, his loan entitlement and the loan-to-collateral ratio.

Q: What is loan entitlement and loan-to-collateral ratio?
A: A member’s loan entitlement shall be proportionate to his Pag-IBIG contributions (inclusive of the employer counterpart contributions)