Home Development Mutual Fund/Pag-IBIG Fund

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    Date: 2022-04-13 11:29:21.903615


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    Date: 2022-05-04 08:22:21.548694


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    Date: 2022-05-04 08:25:28.385233

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Loan Terms of Government Housing Loans

Requested from HDMF by M. Yolola at 11:29 AM on Apr 13, 2022.
Purpose: For Planning, Research
Date of Coverage: 01/01/2020 - 01/01/2022
Tracking no: #HDMF-655072926069

Yolola 11:29 AM, Apr 13, 2022

Good day!

May I request the loan terms of government housing loans, for San Juan, Batangas.

Thank you po!

Officer 08:22 AM, May 04, 2022

May 4, 2022

Dear May Ann,

Thank you for your request dated Apr 13, 2022 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Loan Terms of Government Housing Loans.

We received your request on Apr 13, 2022 and will respond on or before May 04, 2022 11:29:21 AM, in accordance with the Executive Order's implementing rules and regulations.

Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://www.foi.gov.ph/requests/aglzfmVmb2ktcGhyHgsSB0NvbnRlbnQiEUhETUYtNjU1MDcyOTI2MDY5DA, for request with ticket number #HDMF-655072926069.

Thank you.


FOI Receiving Officer
FOI Officer

Pimentel, Jr. 08:25 AM, May 04, 2022

04 May 2022

Dear Ms. May Ann Yolola:

This refers to your eFOI requests received on 13 April 2022 via the eFOI portal of the Home Development Mutual Fund (Fund) wherein you requested for the loan terms of government housing loans, for San Juan, Batangas.

Our Office deemed it proper to raise this matter to and confer with the operating unit concerned – the Housing Operations Support Unit (HOSU).

May we inform you that per our HOSU, regardless of the location and nature of employment, an eligible Pag-IBIG housing loan borrower under the End-User Home Financing Program may avail of a maximum loan term of 30 years. The computation of loan term is 70 less age of borrower at the time of housing loan availment (e.g. 70-45=25 years to pay). For your reference, provided below are the other eligibility requirements and the basis of loanable amount:

A.	Eligibility Requirements

•	Must be an active member with the Fund
•	Must have at least 24 months savings (lumpsum payment is allowed for housing loan borrowers)
•	Must have no Pag-IBIG housing loan that was cancelled, foreclosed, bought back or voluntarily surrendered
•	Must not be more than 65 years old at the date of loan application

B.	Basis of Loanable Amount

Pag-IBIG Fund offers a maximum loanable amount of Php 6,000,000.00. The loanable amount shall be based on the lowest among the following:

•	Desired Loan Amount
•	Actual Need (e.g. Selling Price or Loan Amount applied for)
•	Capacity to Pay based on submitted proof/s of income [e.g. Certificate of Employment and Compensation (CEC) or Income Tax Return (ITR)]
•	Loan-to-Appraisal Value (e.g. Appraisal of the property subject of the loan) 

Finally, a Pag-IBIG housing loan borrower may opt to choose from the Full-Risk Based Pricing interest rates as follows:

Fixing Term	1-yr	3-yr	5-yr	10-yr	15-yr	20-yr	25-yr	30-yr
Rate	5.750%	6.375%	6.625%	7.375%	8.000%	8.625%	9.375%	10.000%

Thank you.

Very truly yours,

Department Manager III, Legal Department and
Deputy Compliance Officer

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