Pag-ibig cuts interest rate on housing loan

[in@n]

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ahaka ani oi. kami intawng mas naka una ug loan, kami na hinooy nag antos sa kataas sa interest rate. kato hinoong karon pa nagloan, mao na hinooy nabulahan. kanus-a pa kaha mo-ubos ang interest rate sa mga naka loan na? hinaut naa pud untay programa ang Pag-IBIG nga ma-adjust pud ang interest rates sa existing nga nang loan.
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Pag-ibig cuts interest rate on housing loan
Friday, April 3, 2009

VICE President Noli de Castro has announced another adjustment in Pag-ibig Fund housing loan interest rates, making the monthly amortizations for its most popular loan package even more affordable.
The interest rate for loans up to P400,000 has been reduced from seven percent to only six percent per annum.
Interest rate for loans worth over P400,000 up to P750,000 is seven percent, and 10.5 percent for loans over P750,000 up to P2 million.
As a result of this rate cut, the monthly payment for principal and interest for a P400,000 loan will go down from P2,661.21 to P2,398.20 at the maximum payment period of 30 years.
Low-income
The Vice President said the bulk of housing loans taken out by Pag-ibig are those worth P400,000 and under.
“The market for Pag-ibig loans are mostly the low income earners, so this latest interest rate adjustment will benefit them,” he said. “In these difficult times, we want more Pag-ibig members to have home ownership as an affordable option to renting,” he added.
De Castro said the rate reduction dovetails the Fund’s commitment to allocate P82 billion for housing and multi-purpose loans this year as its contribution to the go-vernment’s economic stimulus package.
“With this, we hope to attract more borrowers. This will help keep the housing market vibrant, generate business activity in related industries, and create much-needed jobs for our workers,” he said.
In support of the Fund’s higher allocation for shelter financing, de Castro has directed the Pag-ibig Fund to review its housing loan application process and find ways to further streamline it.
De Castro also assured members that Pag-ibig will continue to invest at least 70 percent of its investible funds in housing even with the Fund’s charter change.
This is in reference to the recently approved Senate Bill that aims to strengthen the Pag-ibig Fund by amending its charter to restore its exemption from income taxes and to empower its Board of Trustees to adjust contribution rates, among other things.
“Housing will continue to be Pag-ibig’s core service to its members, and its main contribution to our country’s economic growth,” he said. (PR)

[jamzy]

good news diay ni.... mag loan nata!

[redrosebuds]

bitaw kuha na kay investment sad ni...

[peewee_toot]

nka kuha jd akong miga ani.

[omar50071]

ahaka ani oi. kami intawng mas naka una ug loan, kami na hinooy nag antos sa kataas sa interest rate. kato hinoong karon pa nagloan, mao na hinooy nabulahan. kanus-a pa kaha mo-ubos ang interest rate sa mga naka loan na? hinaut naa pud untay programa ang Pag-IBIG nga ma-adjust pud ang interest rates sa existing nga nang loan.

You can always apply for a restructuring bro para ma fall under the new scheme ang imo loan, but you need to pay and update your real estate tax first and of course your amortization.

[al1974]

[QUOTE=in@n;4305863][FONT=Arial][SIZE=2][COLOR=black][COLOR=#2153aa][FONT=Arial][B]ahaka ani oi. kami intawng mas naka una ug loan, kami na hinooy nag antos sa kataas sa interest rate. kato hinoong karon pa nagloan, mao na hinooy nabulahan. kanus-a pa kaha mo-ubos ang interest rate sa mga naka loan na? hinaut naa pud untay programa ang Pag-IBIG nga ma-adjust pud ang interest rates sa existing nga nang loan.

Actually bro, I gathered they will give you a sort of a rebate of 2% if you pay on time for the old loans. They will deduct the 2% from the capital.

[wadzsg]

Hi to everyone, need some advise regarding the restructuring of pag ibig loan.
My loan was approved last march 2009, the loan was 5 years to pay around 12700 pesos/month, total loan is 600k. I want to restructure it to 10 years but the problem is the first payment was already begun last april 20. So is it possible to restructure the loan terms at this time? Is there any administrative payment to pay?

Thanks sa magreply...

[chuck_scofield]

It's good to hear that PAG-IBIG has lowered its interest rate on housing loan. This will definitely encourage members and non-members of PAG-IBIG to avail of the loan package. Prices of apartments have tremendously increased during the past decade. Payments for monthly rentals are taking a big chunk on a the budget of an ordinary family. Therefore, having a house of your own will surely help these families to minmize their expenses.

[samamar21]

Hi to everyone, need some advise regarding the restructuring of pag ibig loan.
My loan was approved last march 2009, the loan was 5 years to pay around 12700 pesos/month, total loan is 600k. I want to restructure it to 10 years but the problem is the first payment was already begun last april 20. So is it possible to restructure the loan terms at this time? Is there any administrative payment to pay?

Thanks sa magreply...

i think you can restructure your loan terms. visit their office and ask what to do. people their will assist
you. what i tried before was to shorter the terms from 25 years to 15 years. now tapos na my 15 year installments. titles were released in a short period of time without any problem.

[jennilexanng]

Ganahan ko mo apil sa pag ibig la ko kblo unsa requiremnts