So you can claim the fresh have a look at/financing continues, introduce 2 valid IDs (see conditions section getting a list of legitimate IDs recognized of the Pag IBIG) from the Cash-Disbursement Department-Finance Help Functions Agencies/Members Attributes Part.
- A 3rd party member provided he/she submits a notarized Special Power of Lawyer (SPA) and you can 2 legitimate IDs each one of the principal borrower and representative/Attorney-in-Truth.
- Owner, in case your financing mission is one of the adopting the: Acquisition of Domestic Device, Lot Purchase, or Purchase of Lot and you may Build regarding House.
The brand new borrower will also be necessary to render several PDCs (post-old monitors) if your fee is not thanks to income deduction (pick step two to find out more).
8. Start Paying Their Month-to-month Amortization
Amortization is described as the procedure of dispersed aside a loan (in such a case, good Pag IBIG housing loan) to your some fixed repayments over the years.
It is the monthly payments that you’ll make for the new 2nd upcoming days and you may decades to pay off the new Pag IBIG casing financing.
a payday loan Gurley great. Fee Due to Post-Dated Monitors (PDCs)
If you undertake this, you need to topic and you may fill out twelve blog post-dated monitors towards Pag IBIG Financing through to mortgage discharge. This type of checks covers one-year month-to-month amortization.
Return to the fresh new Pag IBIG abreast of consumption of the newest 10 PDCs (private of your own leftover 2) to issue another a dozen monitors.
b. Payment Owing to Paycheck Deduction
For individuals who choose for amortization payment through paycheck deduction (as most Filipino personnel manage), you need to complete Authority to Subtract into the Asking Department/Account Management and you can Battery charging Company/Fund Administration and you will RecoveryHousing Providers Heart/Members Functions Branch.
c. Other Settings off Commission
- Car debit plan having banking institutions.
- Certified range couples (designed for one another regional and you may overseas remittance).
- Fee to an accredited creator that have a portfolio Upkeep Contract having the fresh new Pag IBIG Fund.
- Almost every other ways of percentage that the Pag IBIG Loans could possibly get pertain down the road.
Resources and you may Warnings
an effective. While we try all of our best to respond to all the you can inquiries in the this informative guide, its also wise to look towards most recent schedules of your Pag IBIG Homes Financing positioning system on their Twitter page.
Contained in this system, that is held several times a-year within the particular Pag IBIG twigs and you can locations, you could potentially target your own inquiries directly to the fresh new Pag IBIG teams.
b. Identical to when you are applying for a charge card, your credit score may also be reviewed inside evaluation away from their Pag IBIG casing loan application.
Make sure that your credit history is actually right up-to-time, exact, and actually tarnished of the outstanding expenses. You can secure a no cost content of the credit rating out of the credit Guidance Business (CIC) otherwise any of its qualified credit bureaus.
c. Usually do not check out Pag IBIG empty-given. Before you apply to possess a housing financing, you will want to curently have secured at the least 20% of property’s well worth towards down payment.
The better the new advance payment you really can afford, a lot more likely their houses application for the loan will get acknowledged. Additionally, it may reduce your rate of interest, monthly mortgage, loan-to-well worth ratio, and mortgage name.
d. For the working, the key to providing accepted will be to show you features an effective solid a job background. Job hopping and you may gaps on your own work record is generally viewed because warning flag. A career period setting earnings balance and also the capacity to pay off their property financing.
age. When you are afraid you do not getting accredited due to insufficient money, encourage anybody that have an everyday employment and you may good credit history so you’re able to take you because good co-debtor.
f. Very carefully evaluate your current money to see how much cash of it you could booked for monthly amortization. Preferably, the borrowed funds number should not exceed their around three-year paycheck, while your financial otherwise monthly amortization shouldn’t go beyond 20-30% of gross monthly earnings.