Posts Tagged ‘house loans’
PAG-IBIG loans:Turning our Dreams to Reality
At the back of our minds even if we do not consciously entertain it because of the daily grind of work and worries, lies the dream of owning our own haven, a dream house we can call our own. But because of mounting financial pressure, global recession and economic hindrances, this prospect of having our own home seems bleak after paying all the bills and buying our basic necessities. Thus, we may resign to just renting apartments, houses and condo units for the rest of our life and living without the assurance and security that owning a private home gives.
But average consumers need not fret because PAG-IBIG is giving us all the opportunity to make this dream a reality and well within reach. Since membership to this government-sponsored fund is mandatory for SSS and GSIS members, individuals outside this group who are at least 18 years of age but not more than 65 years old may register as well. An aggregate loan value of 2,400,000,000.00 pesos is allocated to finance 6,000 eligible beneficiaries annually.
This program is readily available to eligible borrowers under the prevailing end-user housing loan program provided that they have not acquired or availed of a housing loan previously from the PAG-IBIG fund for any agency or institution. A maximum loan of 400,000 pesos is available for purchasing residential lots not exceeding 160,000 pesos, for purchase of vacant lots for construction or for the completion of pre-existing housing project. These guidelines are applicable to borrowers whose socialized housing loans are taken out from July 1, 2009 to June 30, 2014. For more information, call 724-4244 or email publicaffairs@pagibigfund.gov.ph. Act now and the dream house you have been yearning for can be yours hassle-free.