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.