To claim the latest consider/financing continues, present 2 legitimate IDs (see criteria area to possess a list of legitimate IDs acknowledged from the Pag IBIG) at Dollars-Disbursement Section-Financing Support Qualities Institution/Members Attributes Department.
- A third party representative so long as he/she submits good notarized Unique Stamina of Attorneys (SPA) and you can 2 good IDs each one of the principal debtor as well as the representative/Attorney-in-Fact.
- The seller, in the event your loan purpose is amongst the adopting the: Purchase of Residential Device, Package Purchase, or Acquisition of Parcel and Structure away from Home.
The fresh new borrower might also be necessary to offer twelve PDCs (post-old monitors) when your payment isn’t due to income deduction (pick step two to learn more).
8. Start Expenses The Month-to-month Amortization
Amortization is described as the entire process of spread aside a loan (in this instance, a great Pag IBIG houses financing) on the a number of fixed costs through the years.
They refers to the monthly premiums that you’ll lead to the newest second coming weeks and you will many years to settle the fresh new Pag IBIG houses loan.
an effective. Payment Owing to Article-Old Inspections (PDCs)
If you undertake this, you should topic and you can complete a dozen blog post-dated inspections to your Pag IBIG Financing abreast of financing launch. Such checks will cover 1-seasons monthly amortization.
Return to the fresh Pag IBIG on consumption of the fresh 10 PDCs (personal of remaining 2) to thing a new a dozen checks.
b. Fee Because of Income Deduction
For individuals who opt for amortization payment thru income deduction (as most Filipino teams perform), you need to fill in Authority in order to Deduct into the Asking Division/Accounts Management and you will Billing Agency/Money Management and you may RecoveryHousing Company Cardio/Professionals Functions Branch.
c. Most other Methods away from Percentage
- Auto debit plan that have finance companies.
- Qualified collection people (readily available for both regional and you can to another country remittance).
- Commission in order to a certified developer with a collection Servicing Agreement having the latest Pag IBIG Loans.
- Other methods of payment that the Pag IBIG Money could possibly get apply later on.
Resources and Warnings
an excellent. While we was all of our far better answer all you can easily questions within the this informative guide, it’s also advisable to look to the newest dates of the Pag IBIG Homes Financing direction program on the Twitter webpage.
Inside program, which is held a few times a-year in the specific Pag IBIG twigs and you can locations, you could potentially address their inquiries to the fresh Pag IBIG professionals.
b. Identical to while you are making an application for a charge card, your credit rating can also be assessed inside the testing off your Pag IBIG homes loan application.
Ensure that your credit history is up-to-day, direct, and you will actually stained because of the unpaid expense. You could potentially safer a free content of the credit rating away from the financing Recommendations Firm (CIC) or any kind of the licensed credit reporting agencies.
c. Usually do not head to Pag IBIG blank-passed. Before applying to have a casing loan, you will want to already have secured no less than 20% of your property’s value for the advance payment.
The greater the fresh down-payment you can afford, the much more likely their homes loan application gets approved. Additionally reduce your interest rate, monthly mortgage, loan-to-worth proportion, and you will financing title.
d. For the functioning, the key to providing acknowledged is always to make suggestions enjoys a strong a job background. Job hopping and openings on your a job background is generally viewed since red flags. Work tenure mode money stability while the capacity to pay-off the homes loan.
elizabeth. When you’re frightened you may not become accredited on account of shortage of earnings, convince anyone that have a normal job and you can a good credit score history to help you take you because the a co-borrower.
f. Cautiously evaluate your money to check out just how much from it you could potentially reserved to possess monthly amortization. Preferably, the mortgage number should not exceed the around three-12 months income, if you are their mortgage or month-to-month amortization ought not to exceed 20-30% of one’s gross monthly earnings.