22/01/2023
UDHO- Real Estate Agent
Today's Thought
Who are eligible?
Guide to Pag-ibig Housing Loan.
First, letโs specify who are eligible to apply for the Pag-IBIG housing loan. According to Pag-IBIG, members who satisfy the following requirements may avail of the housing loan program:
Must have remitted 24 monthly contributions under Pag-IBIG I, Pag-IBIG II or Pag-IBIG Overseas Program (Members with less than the required number of contributions will be allowed to make a lump sum payment provided they have been contributing members of the Fund for at least 12 months);
Not more than 65 years old at the date of loan application and not more than 70 years old at loan maturity;
Has passed satisfactory checks (background, credit and employment) of the Pag-IBIG Fund;
Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;
Has no outstanding Pag-IBIG multi-purpose loan in arrears; and
Had no Pag-IBIG housing loan that was foreclosed, cancelled or bought back due to default or subjected to dacion en pago, which includes cases where the borrower is no longer interested to pursue the loan and surrenders the property.