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Benefits and Availment of Housing Loan Program in Pag-ibig Mutual Fund...

Pag-ibig Mutual Fund Housing Loan Availment
 
These are the benefits that a qualified Pag-ibig member can avail. They can avail the following opportunities mentioned:

This housing loan program grants opportunities to Pag-IBIG Fund members to avail of housing loans to finance any one or a combination of the following:
  1. Purchase of a fully developed lot not exceeding 1,000 square meters, which should be within a residential area;

  2. Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot, which may be:

* Old or brand new;
* A property mortgaged with the Fund; or
* An acquired asset, which is disposed of through sealed public bidding, negotiated sale, the Rent-to-Own Program, or the "Magaang Pabahay, Disenteng Buhay” Program.

  1. Construction or completion of a residential unit on a lot owned by the member;

  2. Home improvement, i.e. any alteration in an existing residential unit intended by a homeowner to be a permanent integral part thereof, which will enhance its durability and material value;

  3. Refinancing of an existing mortgage with an institution acceptable to the Fund, provided that:

* The loan is not in default within 12 months prior to the date of application;
* The said loan has a repayment history of at least two (2) years with the original mortgagee

  1. Combination of loan purposes, which shall be limited to the following:

* Purchase of a fully developed lot not exceeding 1,000 square meters and construction of a residential unit thereon;
* Purchase of a residential unit, whether old or new, with home improvement;
* Refinancing of an existing mortgage with home improvement;
* Re* Refinancing of an existing mortgage, specifically a lot loan, with construction of a residential unit thereon.




















































































Source: http://www.pagibigfund.gov.ph/BenPro/HLAvailment.htm
 

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"Benefits and Availment of Housing Loan Program in Pag-ibig Mutual Fund" was written by Mary under the Philippine Government category. It has been read 4124 times and generated 0 comments. The article was created on and updated on 24 September 2010.
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