http://eljeroy.webs.com/pagibigguidelines.htm Freewebs http://eljeroy.webs.com/pagibigguidelines.htm?blogentryid=3344164 2 years or 24 months contribution to funds , Qualify
     for Pag - Ibig Housing Loan .

  Borrowing up to 2 million pesos to fund for the following :

      *   Purchase of fully developed lot in a residential area .
      *   Purchase of a lot and construction of house .
      *   Purchase of house and lot , townhouse or condo unit
      *   Construction of a house on a lot owned by member .

  If your , monthly contribution is  500 pesos , your loanable
     amount is 1milliom to 1.1 million

  Reminder :

           The lot to be acquired using the loan must be
           free   from any encumbrances

            The maximum term of a Pag - Ibig housing
            loan   is 30 years

  Loan - to - collateral  ratio :

      Some subdivisions or property developers offer a
      buy - back provision for housing unit sold through
      various financing schemes .

      The provision serves as guarantee that the property
      developer will reacquire housing units foreclosed
      by financing institutions due to non payment of borrowers.

      Pag - Ibig covers housing units costing up to 300,000
      pesos even without a buy-back guarantee and over
      300,000 up to 750,000 with buy-back guarantee .
      The fund will covers 90% of the cost of housing units
      worth over 300,000 up to 750,000 pesos without a
      buy - back guarantee .

      Housing units that cost over 750,000 up to 1 million
      pesos are only 95% covered if with a buy-back
      guarantee and 85% covered if without .

      Pag - Ibig covers 90% of the cost of housing units
      worth over 1 million to 2 million pesos if with buy-back
      guarantee and 75% of the cost if without .

  ACTUAL NEED :

          This presents the amount of the housing units as
          stipulated in the contract to sell , licensed to sell ,
          amount of loan applied for , or cost estimates .

   CAPACITY TO PAY

           Pag - Ibig fund takes into consideration the members
           capability to pay the monthly amortization of his or
           her housing loan . It requires that the monthly
           amortization of the members of his or her loans must
           not be more than 40 percent of his or her net
           disposable income . Hence , if a members take home
           pay 20,000 monthly , his or her monthly amortization
           must not exceed 8,000 pesos .

     Other uses of Pag - ibig housing loan , aside from the
     mentioned above are :   Home improvement and
     refinancing of an existing loan in institution
     acceptable to the fund .

     Aside from meeting the contribution requirements ,
     Pag - ibig also requires that the borrowers must not
     more than 65 years old at the time of loan application
     and not be more than 70 years old at the dateof loan
     maturity , must not have any outstanding loan
     either as a borrower or co-borrower , no arrears in
     their multi-purpose loan repayment .

    Pag - Ibig charges 3,000 pesos for housing loan
    processing fee . The 1,000 pesos is paid at the time of
    processing while the remaining 2,000 pesos is taken
    from the loan proceeds upon its released.

    The monthly amortization of the housing loan may be
     paid in two ways through :
                 1 . salary deduction
                 2.  issuing 12 post dated checks to cover 1 year
                            of payment

         Payment of the monthly amortization starts a month
         after the full or released of the loan .
        Buy fully developed lot , Pag-ibig mass lands that is
         free from squaters , with access to electricity  and
         water , with provision for drainage and road-right-
         of-way and with existing land movements .

      CONTRIBUTION AND LOAN AMOUNT

   PAG-iBIG 1&2          AMOUNT

     P200.00       -     up to P500,000
       250.00       -     over P500,000 - P600,000
       300.00       -     over P600,000 - P700,000
       350.00       -     over P700,000 - P800,000
       400.00       -     over P800,000 - P900,000
       450.00       -     over P900,000 -  1M
       500.00       -     over   1M    -      1.1M
       550.00       -     over   1.1M      -  1.2M
       600.00      -      over   1.2M      -  1.3M
       650.00      -      over   1.3M      -  1.4M
       700.00      -      over   1.4M      -  1.5M
       750.00      -      over    1.5M     -  1.6M
       800.00      -      over    1.6M     -   1.7M
       850.00      -      over     1.7M    -    1.8M
       900.00     -       over     1.8M    -    1.9M
       950.00     -       over     1.9M    -    2M

  happy loan , blowout naman kayo !!!
   


]]> http://eljeroy.webs.com/pagibigguidelines.htm?blogentryid=3344164#topBox http://eljeroy.webs.com/pagibigguidelines.htm?blogentryid=3344164 Sat, 26 Apr 2008 09:13:00 -0100 http://eljeroy.webs.com/pagibigguidelines.htm?blogentryid=3338537    You've seen a property that you want to acquire , check it out ,
   in fact , and you're convinced that its the right one for you .
 
   You're a Pag- Ibig fund member and want to acquire the House and lot
   where you want to build your home through Pag-Ibig housing loan ,
   go about this steps :

   STEP 1
            Attend a housing loan counseling session at the  Pag-ibig fund 
            office nearest you .

            All applicant are ask to accomplish a preliminary loan counseling
            questioner , housing loan application form , and membership
            status verification slip ( MSVS ).

            Based on these documents , Pag-ibig officers will determine if
            applicant is eligible for housing loan . Eligible applicant are given
            a checklist of requirements that they must comply with before
            move on to step 2

            THE REQUIREMENTS  :
            Certificate of employment with salary breakdown ( notarized )
            Latest one month payslip of employer
            Income tax return ( ITR ) and W2 for the last 2 years
            Photocopy of company ID or any valid ID with signature
            Proof of billing  ( Meralco , PLDT , Manila water etc. )
            Birth certificate
            Merried certificate
            Cedula ( residence certificate )
            1 x 1 picture ( 4 copies )

            For overseas workers :
                       Special Power of Attorney  ( SPA ) ( red ribbon )
                       ID with signature of person designated in SPA
                       Photocopy of passport ( pages 1 and 2 )
                       Latest job contract
                       POP contribution with record book

     Step 2
             Submit to Pag -ibig your loan application form together all the
             requirements in the checklist and pay the processing fee of
             Php 1,000 (pesos) the amount is non-refundable, even your
             loan gets disapproved .

     STEP 3
             Wait for the notice of approval or letter of guarantee from
             Pag-ibig on your housing loan . After your loan is approved ,
             you will need to sign loan documents in the Pag-ibig office .

     STEP 4 ( if with developer,they do the job and charge miscelenous fee)
             Proceed to BIR and present the deed of sale , tax declaration,
             tax receipt, tax clearance , certified thru copy of TCT, between
             you and the owner of the property . Go to ONETT
             for the computation of capital gains and documentary stamp,
             pay these to their designated banks in that area to avoid penalty .
             They will issue CAR, a certificate authorizing registration after
             a week or two . Photocopy all the documents .

      STEP 5
             After getting CAR from the BIR , proceed to notary public and
             have your loan mortgage agreement notarized LMA ) . Have all
             the requirements photocopied in 3 sets .

       STEP 6
             Go to your municipal or city hall Treasury department , pay the
             transfer tax . The next agency to visit is the Register of Deeds .
             Pay the registration fee for transfer of title and the annotation
             of mortgage .After getting the new TCT ,photocopied it

       STEP 7
             To assessors office where you will need to secure your tax
             new tax declaration of your property by changing previous
             owner to your name .

        STEP 8
              After securing all the pertinent documents from those gov't
              agencies , go back to Pag - ibig fund office armed with the ff:
              documents :
                             *   Original transfer of TCT on your name which
                                  has the  annotation on it .
                             *   DOAS with original RD stamp
                             *   new tax declaration
                             *   Updated real tax receipt
                             *   Occupancy permit
                             *   Assignment of loan proceeds

          STEP 9
                 Second to the last step is to receive the loan proceeds that
                 you will use to pay the seller of the property .

          STEP 10
                  The last is to start paying the monthly amortization
                  based on the scheduled date .

      Interest rate  are set :
               six percent ( 6% ) for loans up to 300,000 pesos
               seven percent ( 7% ) for loans above 300,000 up to
                    750,000 pesos
               ten point five percent ( 10.5% ) above 750,000
                   up to 2 million pesos
 
            
            
 
]]> http://eljeroy.webs.com/pagibigguidelines.htm?blogentryid=3338537#topBox http://eljeroy.webs.com/pagibigguidelines.htm?blogentryid=3338537 Thu, 24 Apr 2008 20:51:00 -0100