Pag Ibig Fund Home Sweet Home Loan By Crissy Taruc on - Updated Sep 18, 2011
Hubby and I received a 131 sq m lot from his parents as a wedding gift. When we decided to construct our house on it we knew that it is better that we obtain the fund from a government agency. Being members for years of Pag-Ibig Fund we are entitled to avail of the housing loan they are offering to their members. The rate is affordable and fixed and for more ease of processing. We got our needed housing loan payable in 15 years at a rate of 12% with less processing fees. The lot title was surrendered as collateral and we have the option to terminate the loan in advance. We are currently on our 6th year of payment and the agency gave us a 2% discount per month for one year and will continue with the discounts depending on the value of peso.
Pag-Ibig Fund url for housing loan information.
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Pag-Ibig Fund Housing Loan
It sounds like you got a great deal/rate!
As long as you got what you wanted, it sounds good.
that's a good deal! i wonder why i never availed while i was there???
I also take the privilege as a PAGIBIG member to acquire a house and lot. Though the property is not as big as a dream house might have been, the affordability is more important. The fixed monthly rate is very helpful to give you more room in budgeting for other necessities. We moved in last year so I’m now on to my second year of payment. I choose 25 years to pay, since I’m still young and single, so my monthly due is only less than 5000 pesos (or around 100 US$). If ever I decide to pay the remaining balance as a whole, they recompute and the interest will decrease.