Pag-ibig housing loan and net income
Posted on October 21st, 2007
Among the four factors used by the Pag-ibig Fund to compute the amount of housing loan that its members may avail of is their monthly net disposable income.
Net disposable income is what’s left of your salary after deducting taxes, mandatory contributions to Pag-ibig and Social Security System (SSS) for the private sector or Government Service Insurance System (GSIS) for the public sector, and loan or other payments (if applicable).
Since Pag-ibig decides on the lowest amount of loan that a member may take out based on either contribution, actual need, loan-to-collateral ratio, or capacity to pay (based on the net disposable income), it is the latter factor that is usually used as basis for most housing loan computations.
The table below is a listing of net incomes and their equivalent housing loan amounts pegged on the loan terms or the number of repayment years.
(For loans over 750,000 pesos, see the rest of the Pag-ibig income table.)
If, for example, you want to take out a housing loan of 500,000 pesos, you must have a net monthly income of about 25,000 pesos if your loan term or number of repayment years is five years. You may still avail of the same loan if your net monthly income is 10,000 pesos if you choose a 20-year loan term.
Now that you know the amount of housing loan you can take out, the next step is to determine your monthly amortization. How much do you need to pay Pag-ibig Fund on a monthly basis if you take out a 500,000-peso housing loan for 5, 10, 15, or 2o years.
The table below lists loan amounts and corresponding monthly payments based on loan terms (5, 10, 15, 20, 25, 30 years).
For loans above 750,000 pesos, see continuation of amortization table.
October 27th, 2007 at 10:04 am
How did we know,if how many bedrooms in one unit are there in 50,000 loans amount within 10 years
November 5th, 2007 at 5:21 am
hi tin,
the table is for purposes of determining the amount of loan that a member intends to or may take out, how much net income he should have to qualify for that amount, and the monthly payments he has to make. it does not reflect contract price of a house and lot unit.
engkanta
November 5th, 2007 at 10:35 am
good day!
i am interested to apply in pag-ibig…i am also willing to pay the lump sum amount in 2 years…and is willing to pay the rest of the amount based on loan term(in years)…i am not an employee…i dont have any income…all i have is the money given to me by my parents…and my questions is, am i still quilified to apply in pag-ibig, since, one of your requirements is the net income of your members…
thank you…
November 12th, 2007 at 3:51 am
Hi,
I had already acquired a pagibig housing loan in Bacoor Cavite. And i had it since 1996.I am still paying the mortgage every month. My term is 25 years. I am now working here in Dubai and it seems i dont have anyone to go to your office in Makati to pay my morgage every month. What’s my possible option? Can i pay my morgage semi-annually or annually? and how? I got a PCI-Equitable Bank Acct. Can you debit my monthly dues in my acct?
Please help.
November 18th, 2007 at 6:43 pm
can i know if i can loan to paigibig for 500,000 i am OFW ihave my house and lot but not yet paid already the whole amount of the house and lot thnk you hoping for your response
November 19th, 2007 at 10:20 pm
if married, what’s the basis, personal income or household income?
November 21st, 2007 at 10:54 pm
riza,
pag-ibig has what it calls voluntary members and they are those who are not employed or are self-employed who choose to contribute to the fund of their own volition. maybe your case falls under this category. please inquire with your nearest pag-ibig office. they can explain the matter better to you.
marilou,
just a disclaimer: this is not a pag-ibig website. and i am not in any way affiliated with pag-ibig. i’m a broker and my posts here are intended to help those who have questions about pag-ibig’s housing program. i’m sure pag-ibig has some payment arrangements for members who work outside the country and who have housing loans. please inquire with the pag-ibig office. its website is http://www.pagibigfund.gov.ph.
lorelie,
if you’ve been a pag-ibig member for two years or more, you may avail of the agency’s housing loan program. if you have an existing housing loan with a bank or any financing agency, you may also choose to have this loan transferred under the pag-ibig fund.
em,
the basis will be the personal income of the spouse doing the borrowing if its already sufficient for the amount of housing loan taken out. there are couples though who opt to combine their income so they could take out a bigger amount. in this case, one spouse becomes the main borrower and the other becomes the co-borrower.
November 22nd, 2007 at 4:53 am
hi…u send that u will give a list of developers somewhere here in compostela,liloan or consolacion…until now you haven’t posted it yet…pls do…tnx
November 22nd, 2007 at 4:55 am
i mean u said…sorry…
November 22nd, 2007 at 10:34 am
where can i get the pag ibig membership form? i live in the UK. as im not a filipino citizen, what requirements do you need? thanks..
November 22nd, 2007 at 9:35 pm
thanks.
December 9th, 2007 at 7:38 pm
hi dianne,
sorry about that. i was out of town for sometime and neglected this blog. was not yet able to network with brokers with listing in those areas. will try this week. thanks for your patience
elena,
i’m not sure what the procedure is for pag-ibig membership for those living abroad. i’ll inquire with the pag-office for you when i go there within this week.
em,
you’re welcome. glad i was able to help
January 1st, 2008 at 11:36 pm
sir/mam good day
happy new year to all….
where can we avail of housing loan counselling? when in fact, our place is in Oroquieta City, Misamis occidental. we do not have PAG-IBIG office here in our place.
January 3rd, 2008 at 8:26 am
we (together with my wife) intend to buy a house and lot worth 1.5M. we plan to do the loan as a couple, is it possible for us to do the loan if let say i have a gross monthly income of 50K and my wife has 18K income?
January 26th, 2008 at 10:57 pm
paano po ba malalaman ang computation ng equity ng house and lot? 500,000 php ang value. approximate na loanable amount sa pag-ibig ay 495,000 php. may reservation na pong 5,000 php?
January 28th, 2008 at 10:47 pm
Hi,
Will if be possible if I apply for a housing loan and have my in-law who is based in the U.S to be a co-borrower instead of my spouse so I can borrow a bigger amount? If so, what are needed requirements from them.
Thanks!
February 3rd, 2008 at 12:04 pm
^ I dont think both of you can apply for two loans to buy 1 property because if one of you applies for a pag-ibig loan your wife will be your co-borrower.
One of you will need to apply, not both.
February 19th, 2008 at 2:30 am
Sir/Madam,
I applied for the PAG-IBIG housing loan last November 19, 2007 through a developer in cebu,for I was convinced by this agent to apply for this housing loan of PAG-IBIG. I already completed the requirements and start paying the equity last December 19, 2007 up to now. It’s already 3 months passed but until now I didn’t receive any feedback from the developer with the real status of my loan. I would like to ask when will be this loan will be approved? Coz I keep on asking my agent for this loan and she said that it was already forwarded to PAG-IBIG under anotations. I’m hoping to receive a feedback for this housing loan.
February 22nd, 2008 at 10:07 pm
eldred,
sorry, i’m based in cebu. i’m not familiar with the pag-ibig offices in misamis occidental. please visit the pag-ibig website for this information.
abner,
yes, you can opt to loan out as a couple, with you as main borrower and your wife as co-borrower so you can take out a bigger housing loan amount. check out my earlier post on the pag-ibig housing guidelines to see if you’re eligible for a loan and what you still need to do if you’re not.
please remember that in evaluating the amount of housing loan that you can take out, pag-ibig decides from among four factors. whichever loanable amount (for you) comes out the lowest from among these four factors, pag-ibig will peg your loanable amount on.
the four factors are contribution, loan-to-collateral ratio, actual need, and capacity to pay. these factors are discussed further here. so if your contribution affords you a loanable amount of 2 million but only 1.5 million based your capacity to pay, then pag-ibig will peg your amount on the capacity to pay factor.
dette,
i’m not so familiar with equity computation. what i know is if you’re taking out a pag-ibig housing loan for a house and lot with some developer, sometimes pag-ibig covers only a certain percentage of the loan based on the loan-to-collateral ratio. related to this is if your developer has a buy-back provision and the amount of loan you’re taking out. what pag-ibig does not cover, you will have to pay as equity. this factor is discussed further in this post.
ritchelle,
i’m not sure if it’s possible for your co-borrower to be an in-law and who is residing in the US already, please inquire with your nearest pag-ibig office.
april,
it’s not automatic for a wife to be co-borrower if her husband takes out a housing loan. spouses can choose to only have the husband take out the loan, with the wife not a co-borrower. taking out loans as a couple is for purposes of combining the monthly contributions so you could take out a bigger loan amount.
sherry,
the only thing you can do is check with pag-ibig about the status of your loan. three months is a long time for a loan application to be pending.
February 23rd, 2008 at 2:16 am
sir/ma’am;
i am a member of pagibig for almost 20 years. i’m a public skul teacher, and until now i have never owned a house because my children are still having their tertiary skuling. now i have a big problem because the owner of the lot where our house was built(we bought the house when my children are still kids) urges us to leave since we stayed in their lot for free, and we understand it. wen i saw your commercial my family was delighted. my net disposable income is only 5000/month. can i avail for the housing loan? i hope i could still.. thanks a lot and God bless..
i’ll wait for your reply..
March 13th, 2008 at 4:28 am
mer,
this site is not in any way affiliated with pag-ibig. i write about pag-ibig topics in line with my real estate business.
as to whether you could take out a housing loan and how much, please be guided by the pag-ibig table above. in the table, pag-ibig requires that if your net disposable income is 5,000 or less, the total amount you may take out as housing loan is P300,000 with loan term of 25 to 30 years. the monthly amortization for such amount of loan is P1,932 for 25 years and P1,798 for 30 years.
March 24th, 2008 at 5:25 am
Im interested in applying for a housing loan thru pag-ibig program, my husband’s last payment of his contribution was may07,from his previous employer(private co.) and now he is a govt employee. he started to update his contributions just this feb08,I also want to ask for your advise, our net income is approximately 20,000 we are planning to purchase a house and lot worth 530,000 pesos but I am the one who will apply and he will be my co-maker, will I be approve?My contribution is 200 per month(Im a private employee),do we have problems w/ his contributions(not updated for 8 mos.)?if my loanable amount is 300,000 will we pay the 230,000 left as equity? pls give me your advise,thank you very much.god bless!
March 25th, 2008 at 11:00 am
ask ko lang..i am a student and i am interested to apply and be a member…i have enough money to pay the monthly contribution..am i qualified?i hope so….and if ever na pwede..ano po ang mga requirements?i will wait for the reply..thanks
March 30th, 2008 at 2:01 pm
Hi,
Can you site the advantages of availing the 10 years over the 25-years housing loan? Will it would be better to take the 25 years if i have extra money for advance payment?
April 21st, 2008 at 7:44 pm
hello.just like to ask if u cud be a borrower and a co borrower at the same tym.my dad’s planning toa apply for a loan and have me as his co borrower, but at the same tym, i’m also planning to apply for a loan for myself..
May 2nd, 2008 at 2:14 am
hi! i want to continue my monthly contribution so i could avail for a housing loan. I’m a member of pag-ibig for more than 3 years. My last contribution was November 2007. How much do i need to pay for my monthly contribution?
Thanks and God bless!
May 6th, 2008 at 1:20 am
ask ko lang po. my mom 45 yrs. old. a pag-ibig member wants to avail a housing loan, gusto ko lang po malaman kung yung mga nahulog na nia for that yrs. nde ba ma aavail thru housing loan? or may mga discounts lang for that? and the table you post po is up to now yan pa rin po ang guide i mean the latest? dapat mag lulump sum na po siya kaso nagka prob. yung last company nila. nagclose. anu pa po pa ang pede nia kaya ma avail na madali po.?
help us pls.
tenkz!
June 2nd, 2008 at 11:00 am
Hi Sir/Madam,
Hi everyone, my question goes like this..I am a active member of Pag-Ibig for almost 2years and my question is how much is my loanable amount in housing loan having a monthly contribution of P100.00 per month and a net pay home of P8,500.00.) the table that you posted is a clear one yet i want a clear computaion if i have the given computation below? My last questionis how much is my monthly dues if i may loan for P750,000 - P900,000.00?
Hope to hear from you a response for my queries because im trying to have a house and lot by this year. by the way i used to pay my loan in 25 years.
God Bless
July 21st, 2008 at 1:42 am
I just want to commend you for a very informative blog site.
July 23rd, 2008 at 2:38 am
why does some reality companies assume only 285,000 of the total TCP of say 375,000? you then have to shoulder the remaining 90,000 adding on it the processing fee of about 31,500, deposti of 10,000 to be deducted in one year. total of 10,958.33 for the first year. can it be the whole TCP be entered in Pag-ibg loan?
August 14th, 2008 at 5:21 am
just want to ask if the hdmf require net disposable income in 750,000 loan if the developer offer a 100% buyback guarantee.
September 1st, 2008 at 11:01 pm
Sir/Madam,
good morning!
we have neighborhood association.
our problem is how to apply housing loan through pag-ibig.
the lot owner want to sell his land which occupied by our association. is there any posibility to acquire this land through pag-ibig housing loan program? pls help us!
thaks and more power.
September 1st, 2008 at 11:08 pm
Sir/Madam,
good morning,
we have neighborhood association.
our problem is how to apply housing loan through pag-ibig.
the lot owner want to sell his land which occupied by our association. is there any posibility to acquire this land through pag-ibig housing loan program? pls help us!
thanks and more power!
October 9th, 2008 at 12:40 pm
gud pm.i just want to ask i worked last feb 14 2005 till sept 2006.so kulang pa ako ng mga 5months.i know i can pay the lome some pero just want to ask kailangan p b itr since d n naprocess ng office k un and yung salary ko nuon is 15000 plus comission kaya umaabot ng 20k pero nakasult naman sa pa slip.e may nagugustuhan akonh house worth 1.7m..may possibility kayang maapprove yun?
October 31st, 2008 at 1:04 am
I just want to ask if we avail a 30 yrs. to pay plan of 10,000 pesos with a loanable amount of 1,000,000. and I had lupsum money of 500,000. Where will be deducted? principal amount or number of years? tnx