List of Pag-IBIG House Loan Refinancing Interest Rates based on Fixing Term
PAG-IBIG HOUSE LOAN REFINANCING INTEREST – Here is a guide on the rates implemented by the Pag-IBIG Fund based on the repricing period.
One of the most popular entities when it comes to housing loans is the Pag-IBIG Fund. It has an excellent offer that has helped countless Filipinos have affordable residential properties of their own.
The Pag-IBIG Housing Loan offer is the most popular offer of the government agency which has millions of members across the nation. Its offer encompass several purposes and one of its best features is that the loan repayment can be pocket-friendly as it allows up to a 30-year loan term.
Are you interested with the said loan offer of the Pag-IBIG Fund? It is best to know its purposes, loanable amounts, interest rates, and a lot more details which you can find below.
As mentioned, the Pag-IBIG Housing Loan offer is open for several purposes. You may file a loan application 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
For the purpose of refinancing an existing home loan, to qualify, here are the eligibility requirements that a member-borrower must meet:
- 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
How much you may borrow under the offer? The Pag-IBIG Fund provided the maximum loanable amount under the Housing Loan Refinancing. However, there are factors that the government agency considers when it comes to approving an amount.
With regards to the Pag-IBIG House Loan Refinancing interest rates, it is dependent on the chosen fixing term or repricing period. It is part of the details during the application process.
| 1-Yr* Fixing | 5.750% |
| 3-Yr Fixing | 6.375% |
| 5-Yr Fixing | 6.625% |
| 10-Yr Fixing | 7.375% |
| 15-Yr Fixing | 8.000% |
| 20-Yr Fixing | 8.625% |
| 25-Yr Fixing | 9.375% |
| 30-Yr Fixing | 10.000% |
The interest rate is implemented on the Pag-IBIG House Loan Refinancing until the loan is fully-paid. It is implemented based on diminishing principal balance basis.
In applying for the loan offer for the purpose of refinancing, there is a unique set of requirements for Pag-IBIG House Loan refinancing. Prepare the documents’ original copies as the Fund require the presentation of original documents.