Guide on Pag-IBIG Housing Loan Refinancing Loanable Amount under the Offer
PAG-IBIG HOUSING LOAN REFINANCING – Here is a guide on the loanable amount under this purpose of Pag-IBIG Fund Housing Loan offer.
Are you caught in a hard time by your housing loan? If you are a Pag-IBIG Fund member, you may qualify for its Housing Loan offer that can provide you with a financial solution to your problem.
The Pag-IBIG Fund is one of the biggest government agencies in the Philippines. Millions of Filipinos are members of the said government agency and these are individuals coming from different walks of life.
Among its many loan offers, the Pag-IBIG Fund is most popular for its Housing Loan offer which serve several purposes related to residential properties. It has helped countless Filipinos obtain a residential property in affordable ways.
The Pag-IBIG Housing Loan serves many purposes. You may apply for the loan offer to finance any of the following:
- purchase of residential lot or adjoining residential lots plus the cost of transfer
- purchase of residential house & lot, townhouse or condominium unit inclusive of a parking slot plus the cost of transfer
- house construction
- home improvement
- refinancing of existing home loan
- combined Loan Purposes
In qualifying for the loan offer, there are eligibility requirements that the member must meet. To qualify, you must be:
- active member
- has posted at least 24 months savings
- not more than 65 years old at the date of loan application but not more than 70 years old at the date of loan maturity
- has the legal capacity to acquire and encumber real property
- has noo Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
In the case of refinancing an existing home loan, the maximum loanable amount under the Pag-IBIG Housing Loan Refinancing is up to P6 million. However, all loan applications are subject to the assessment and approval of the Fund and the government agency is basing on several factors including the actual need
The Pag-IBIG Housing Loan Refinancing amount is payable for up to 30 years. Thus, you can restructure the loan to make the monthly dues more pocket-friendly to you. If you are interested, prepare the Pag-IBIG House Loan Refinancing requirements 2023.
The Pag-IBIG Fund requires original copies of the documentary requirements for evaluation.