eight. Allege Your See/Loan Continues from the Pag IBIG Funds

So you’re able to allege the fresh new take a look at/mortgage continues, expose 2 legitimate IDs (come across requirements area to have a list of appropriate IDs recognized because of the Pag IBIG) within Cash-Disbursement Department-Fund Help Characteristics Institution/Users Characteristics Department.

A 3rd party affiliate provided that the guy/she submits an effective notarized Unique Strength of Attorneys (SPA) and you will 2 appropriate IDs all the dominating borrower while the representative/Attorney-in-Reality.
Owner, if the loan objective is amongst the following the: Acquisition of Residential Device, Parcel Get, or Purchase of Parcel and you may Design regarding Household.

The newest borrower may also be needed to offer several PDCs (post-dated monitors) when your payment is not thanks to salary deduction (discover step two to learn more).

8. Begin Paying The Monthly Amortization

Amortization means the entire process of distributed away that loan (in such a case, a good Pag IBIG Indian Springs Village bank loans property loan) to your a few fixed repayments through the years.

They is the monthly obligations that you’ll produce the newest next coming weeks and years to settle the fresh new Pag IBIG property loan.

a. Fee Due to Post-Old Inspections (PDCs)

Should you choose it, you really need to question and fill in a dozen article-dated checks towards Pag IBIG Financing abreast of financing discharge. These inspections covers 1-season month-to-month amortization.

Return to the new Pag IBIG abreast of usage of the latest 10 PDCs (private of your own leftover 2) to help you question a different several inspections.

b. Fee As a result of Salary Deduction

For folks who decide for amortization percentage through paycheck deduction (as most Filipino team manage), you will want to fill in Expert to Deduct to your Recharging Department/Membership Administration and you will Recharging Agencies/Finance Government and RecoveryHousing Team Cardio/Users Functions Branch.

c. Other Modes out of Payment

Car debit plan with finance companies.
Certified range partners (available for one another regional and you can overseas remittance).
Fee to help you a certified designer that have a portfolio Repair Agreement having the fresh Pag IBIG Loans.
Almost every other ways of payment the Pag IBIG Funds get apply later on.

Information and you will Warnings

a. While we is actually our better to answer every you’ll be able to issues inside this article, it’s also wise to be on the lookout for the current times of one’s Pag IBIG Housing Loan positioning system to their Twitter webpage.

Within this system, which is presented once or twice a year within the certain Pag IBIG twigs and you can venues, you could target your issues right to the brand new Pag IBIG group.

b. Identical to if you are applying for credit cards, your credit rating could be assessed within the investigations regarding your own Pag IBIG homes loan application.

Make sure your credit score try upwards-to-day, accurate, and you can actually discolored because of the outstanding debts. You can safe a no cost content of one’s credit rating off the financing Recommendations Organization (CIC) otherwise any one of its accredited credit reporting agencies.

c. You should never see Pag IBIG blank-passed. Before you apply to have a casing loan, you should actually have saved up no less than 20% of property’s worth on the advance payment.

The higher the new advance payment you can afford, a lot more likely their homes application for the loan becomes recognized. Additionally decrease your rate of interest, monthly financial, loan-to-well worth ratio, and you may mortgage identity.

d. To the functioning, the secret to taking approved would be to make suggestions possess an effective solid a position record. Work hopping and you may openings in your work history are seen since the warning flag. A job tenure mode income stability and the power to pay off your own houses financing.

elizabeth. When you are afraid you may not getting licensed on account of shortage of money, persuade people having a normal employment and good credit history so you’re able to elevates while the an effective co-debtor.

f. Very carefully assess your existing earnings and see how much from it you could reserved to own monthly amortization. If at all possible, the mortgage number must not go beyond their around three-season paycheck, while the home loan otherwise month-to-month amortization must not go beyond 20-30% of your own terrible monthly money.