01/06/2023
PAG-IBIG HOUSING LOAN TIPS
If Plan Mag avail ng House thru Housing Loan sa Pagibig
๐บ Always pay your monthly amortization and monitor it online via virtual pag-ibig website. They don't send monthly bills so pay your monthly amortization diligently para di lumobo utang mo.
๐บ Yung binabayaran mo na monthly amortization, naku ang liit lang ng napupunta nyan sa principal. I asked the staff sa pagibig and they told me about the breakdown of my P9,555.34 Monthly Amortization:
P7,166.67 interest
P235.80 Fire
P360 insurance
P1,792.87 Principal ๐ญ
= P9,555.34 total monthly Amortization
Diba ang liit ng kaltas sa principal. Ang laki ng bayad sa interest. ๐ญ
๐บ This is how you compute your monthly interest. Bigay ko na example yung amin.
1.610, 000= principal (Loanable Amount/inutang sa Pagibig)
5.375% = annual interest
divided by 12 months
1, 610,000 x 5.375% รท 12 = P7, 211.46
๐บ That's why, it is highly recommended to pay in advance sa principal mismo if you have extra money para lumiit din ang interest na binabayaran mo. For example, after 5 years, 1M na lang principal mo so 1M x 5.375% รท 12 = P4,479.17
๐บ Di bababa ang monthly amortization mo BUT because smaller na ang interest, BIGGER na ang kaltas sa principal mo.
๐บ If you have extra money and you want to pay in advance, go directly to pag-ibig office and sabihin EXCESS TO PRINCIPAL yung payment mo.
---For example, magbabayad ka ng 50k and
10k ang monthly amortization,
the excess which is 40k will be deducted directly sa principal amount mo. So nakabayad ka na ng monthly Amortization, nabawasan pa principal mo.
๐บ Iwasan mag advance payment sa monthly amortization sa bayad centers. Mababa lang nababawas nyan sa principal mo. Bayad ka na lang sa principal.