8.24.2012

Additional Pag-ibig Housing Loan

Puede bang mag-apply for a second Pag-ibig housing loan to buy another house or lot?

Yes, kung nabayaran mo na fully ang iyong first Pag-ibig housing loan.
Kung co-borrower ka, kelangang mabayaran mo muna yong share mo sa total loan. Merong paperwork na gagawin together with your co-borrower bago makapag-loan uli.

However, merong exception, as described below.

Kung hindi ko pa fully paid ang Pag-ibig housing loan ko, puede bang mag-loan to improve the house I bought through a Pag-ibig loan? Kahit hindi ko pa nabayaran ang first housing loan ko?

Yes.

Merong 4 purposes na puede kang mag-apply for an additional Pag-ibig housing loan:

1. Improvement of home bought with a Pag-ibig loan
2. Construction of a house on a lot bought using a Pag-ibig housing loan
3. Purchase of a lot, house and lot, condo, townhouse or rowhouse adjacent to the property (katabi ng property) bought with a Pag-ibig housing loan.
4. Purchase of a parking lot (for condo units bought with a Pag-ibig loan)

Ano ang mga requirements para maka-avail of an additional loan?

1. Dapat ikaw ay:

- Updated sa pagbayad ng monthly contributions

- Updated sa pagbayad ng monthly amortization ng housing loan

2. Dapat ang iyong gross monthly income ay kasya sa pagbayad ng first housing loan at additional loan.

- For total loans lower than 1,250,000, or equal to 1,250,000, dapat ang monthly amortization is not higher than 35% of your gross monthly income

- For total loans higher than 1,250,000, dapat ang monthly amortization is not higher than 30% of your income

3. Dapat ang total appraisal ng first property at second property or home improvements ay mag-qualify sa loan-to-value ratio ng Pag-ibig

Ihahalo ba ang first housing loan sa new loan?

- Hindi, kung ang first loan ay taken out before November 23,2006. You will pay two separate housing loans.

- Yes, the first loan and new loan will be consolidated if the first loan was taken out under the Magaang Pabahay program, or the Abot-Kamay Pabahay Program (HDMF Circular No. 219)

For the required documents and for further advice: Visit the Pag-ibig Housing Department at JELP Bldg., Shaw Boulevard, beside Nissan/Hyundai (From Crossing or Starmall, ride a jeep bound for Quiapo. Malapit lang from Crossing.)

Source of information: HDMF Circular No. 310, Amended Guidelines on the Pag-ibig Fund End-User Home Financing Program, approved on December 21, 2011, effective July 2, 2012, signed by Pag-ibig CEO, Attorney Darlene Marie B. Berberabe on June 6, 2012 in Makati City.


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