So you can claim the fresh new see/mortgage proceeds, introduce 2 good IDs (see conditions part to have a listing of good IDs approved from the Pag IBIG) at Cash-Disbursement Office-Money Service Functions Agency/Users Characteristics Branch.
- An authorized user provided that the guy/she submits an effective notarized Special Fuel regarding Lawyer (SPA) and you may 2 legitimate IDs all the dominant borrower and also the representative/Attorney-in-Reality.
- The seller, if your financing objective is amongst the after the: Purchase of Residential Product, Lot Purchase, otherwise Acquisition of Lot and Build away from Home.
The fresh borrower can also be needed to promote a dozen PDCs (post-dated monitors) if the commission isn’t owing to income deduction (come across second step to find out more).
8. Begin Purchasing Your Monthly Amortization
Amortization is understood to be the whole process of distribute out a loan (in this case, a good Pag IBIG property loan) into the several repaired money over time.
They is the monthly installments which you yourself can make for the fresh 2nd coming weeks and you can decades to settle the brand new Pag IBIG construction mortgage.
an excellent. Commission Owing to Article-Dated Checks (PDCs)
If you choose which, you should thing and fill out several article-dated checks into the Pag IBIG Money up on mortgage discharge. These monitors will take care of one-season monthly amortization.
Go back to the fresh Pag IBIG up on consumption of the latest ten PDCs (exclusive of remaining 2) so you’re payday loans Fruithurst able to question a different 12 monitors.
b. Fee Owing to Salary Deduction
For individuals who choose amortization percentage via salary deduction (as most Filipino personnel create), you should complete Authority so you can Subtract to the Charging Division/Membership Management and Charging Company/Loans Administration and you can RecoveryHousing Team Cardio/Players Qualities Department.
c. Almost every other Methods out of Fee
- Automobile debit arrangement that have banks.
- Certified range lovers (readily available for both local and you may overseas remittance).
- Payment to a certified designer which have a profile Repair Arrangement having the new Pag IBIG Money.
- Most other ways of percentage your Pag IBIG Funds get incorporate subsequently.
Tips and Cautions
a. Even as we was all of our better to address all of the it is possible to issues in the this informative guide, it’s also advisable to look to your latest dates of your Pag IBIG Property Mortgage positioning program on the Twitter page.
Inside program, that’s conducted from time to time a-year inside specific Pag IBIG branches and you can spots, you can target their inquiries to the new Pag IBIG group.
b. Just like when you’re obtaining a charge card, your credit rating may also be reviewed inside the testing out of your Pag IBIG property loan application.
Make sure your credit score was right up-to-date, specific, and you will actually discolored from the delinquent debts. You could potentially safer a no cost duplicate of one’s credit history regarding the financing Guidance Corporation (CIC) or some of their licensed credit reporting agencies.
c. Don’t see Pag IBIG blank-passed. Before you apply to possess a housing financing, you will want to already have secured about 20% of property’s well worth on the down-payment.
The higher the brand new deposit you can afford, the much more likely the housing loan application will get recognized. Additionally reduce your interest, monthly home loan, loan-to-value ratio, and loan label.
d. For the working, the secret to getting approved is to try to show you provides an excellent solid a position records. Occupations hopping and you may gaps in your employment background is generally viewed since warning flags. Work period function money stability plus the power to repay your houses financing.
age. While afraid you may not feel licensed due to decreased money, persuade anyone with a frequent business and you may a good credit score records so you can elevates since the a great co-borrower.
f. Carefully determine your income and see how much cash from it you might set aside getting monthly amortization. Ideally, the borrowed funds amount shouldn’t go beyond your own three-year salary, when you find yourself your mortgage or monthly amortization should not go beyond 20-30% of your gross month-to-month earnings.