Pag-ibig housing loan and net income
Posted by engkanta 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.)
Easy steps to a Pag-Ibig housing loan
Posted by engkanta on October 16th, 2007
You’ve seen the property that you want to acquire, checked it out repeatedly, in fact, and you’re convinced that it’s the right one for you.
You’re a Pag-Ibig fund member and want to acquire the house and lot or the lot where you want to build your home through a Pag-Ibig housing loan but don’t know how to go about it.
Let these easy steps published in the Pag-Ibig publication “Pabahay ni GMA” and posted in the agency’s website guide you.
1. Attend a housing loan counseling session at the Pag-Ibig Fund office nearest you.
Applicants are asked to accomplish a preliminary loan counseling questionnaire, housing loan application form, and membership status verification slip (MSVS).
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