In order to allege the latest consider/financing proceeds, introduce 2 valid IDs (pick conditions part for a list of legitimate IDs acknowledged of the Pag IBIG) in the Bucks-Disbursement Section-Funds Support Attributes Company/Professionals Attributes Department.

• An authorized user provided that he/she submits a good notarized Special Electricity regarding Attorney (SPA) and you may 2 valid IDs each of the principal borrower and also the representative/Attorney-in-Fact.
• The seller, in the event your financing purpose is just one of the pursuing the: Purchase of Home-based Product, Package Buy, or Purchase of Lot and Design away from Family.

The brand new borrower will also be needed to promote a dozen PDCs (post-old checks) if your fee is not thanks to paycheck deduction (get a hold of second step to learn more).

8. Initiate Investing Your own Monthly Amortization

Amortization is described as the process of distribute out a loan (in this instance, a great Pag IBIG property financing) for the a few fixed repayments over time.

It refers to the monthly obligations which you can make for the fresh new next coming months and ages to settle the newest Pag IBIG property mortgage.

a great. Payment Because of Post-Dated Inspections (PDCs)

Should you choose so it, you will want to thing and you may submit twelve post-old inspections for the Pag IBIG Financing through to financing discharge. These checks will cover one-year monthly amortization.

Go back to the latest Pag IBIG upon consumption of the latest 10 PDCs (exclusive of your own leftover 2) so you can topic a new a dozen checks.

b. Percentage Thanks to Salary Deduction

For individuals who choose for amortization fee through salary deduction (because so many Filipino staff manage), you ought to fill in Authority so you’re able loan places Huntsville to Deduct on the Billing Department/Profile Management and you may Billing Company/Funds Government and RecoveryHousing Organization Cardiovascular system/Participants Qualities Part.

c. Almost every other Settings off Fee

• Vehicle debit plan with finance companies.
• Licensed collection lovers (readily available for both regional and you will to another country remittance).
• Percentage in order to a certified designer that have a profile Servicing Agreement which have the newest Pag IBIG Funds.
• Almost every other ways of commission that the Pag IBIG Money could possibly get pertain later on.

Info and you may Cautions

a great. Even as we was the far better respond to most of the you are able to concerns inside the this article, it’s also advisable to look towards current dates of Pag IBIG Housing Financing direction program on their Facebook webpage.

Within program, which is held from time to time a year within the specific Pag IBIG branches and locations, you could target their issues straight to the brand new Pag IBIG team.

b. Identical to if you are applying for a charge card, your credit score may also be assessed within the testing regarding your own Pag IBIG construction application for the loan.

Ensure that your credit rating is right up-to-day, accurate, and you may is not stained because of the delinquent costs. You might secure a free of charge duplicate of credit history away from the credit Recommendations Corporation (CIC) otherwise any one of their qualified credit reporting agencies.

c. Don’t go to Pag IBIG blank-handed. Before you apply getting a property loan, you ought to currently have saved up no less than 20% of property’s really worth to your downpayment.

The higher the fresh new deposit you can afford, a lot more likely your construction application for the loan will get acknowledged. Additionally, it may lower your rate of interest, month-to-month home loan, loan-to-worth proportion, and you may mortgage name.

d. Towards working, the secret to delivering approved should be to assist you have an effective strong employment records. Employment jumping and gaps on your a position history could be seen because warning flags. A position tenure mode money balance and also the capacity to pay back your own property mortgage.

age. When you find yourself scared you may not getting certified on account of insufficient money, encourage people having a frequent business and you may a good credit score records so you can elevates because the an excellent co-borrower.

f. Cautiously evaluate your existing earnings and discover exactly how much of it you might arranged to have month-to-month amortization. If at all possible, the mortgage count cannot surpass your three-seasons paycheck, when you find yourself the home loan otherwise monthly amortization should not go beyond 20-30% of your own gross monthly earnings.