Tag Archives: pag-ibig fund

Pag-ibig Fund now covers condo units: official

Some condominium units can now be acquired through a Home Development Mutual Fund (HDMF) or Pag-ibig Fund loan, executives of the housing agency of the Philippines said.

Anthony Maglunsod, Pag-ibig’s assistant manager of operations for Cebu City South, said they’ve raised the loan ceiling from P3 million to P6 million.

Condo units, not previously affordable under the Pag-ibig Fund program, are now covered, he explained.

An artist rendition of the completed 18-storey City Loft by Fuente Triangle. (Photo from Fuente Triangle website)

An artist’s rendition of the completed 18-storey City Loft by Fuente Triangle. (Photo from Fuente Triangle website)

“As long as the member or borrower can pay the monthly amortization, he or she could avail of a condo loan,” he pointed out.

One of the condominium developments that can be acquired through a Pag-ibig loan is the 18-storey City Loft along Gen. Maxilom Avenue, which its developer Fuente Triangle Realty Development Corp. plans to complete by end of 2013.
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Pag-ibig says seminar not anymore required for housing loans

Since last year, the Home Development Mutual Fund (HDMF) Visayas Group has done away with the half-day seminar for those interested in taking out a housing loan.

Victoria de la Peña, HDMF vice president for the Visayas, said prospective borrowers only need to go to their Pag-ibig branch where someone talk them through the basics as well as match their housing needs with their capability to pay.

New Pag-ibig Fund programs in 2013, according to her, will involve encouraging employer companies to provide housing for their employees. She said they can collaborate with Pag-ibig Fund, another name for HDMF, and property developers on how to go about creating a housing program for their workers.
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Easy steps to a Pag-Ibig housing loan

(UPDATE: Pag-ibig says seminars no longer required for housing loans)

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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Pag-ibig celebrates shelter month with housing program

To celebrate National Shelter Month this October, Pag-ibig Fund is implementing the “Magaang Pabahay, Disenteng Buhay” Program.

The objective of the program is to provide members of the fund with the opportunity to acquire a home through affordable or easy means.

The program involves the disposition of the fund’s acquired assets including those still being occupied by the original borrower, tenant under the ordinary lease scheme, or any illegal occupant. Acquired assets are those housing units bought through a loan with Pag-ibig but had since been foreclosed and acquired back by the fund due to non-payment by the borrower of the monthly amortizations.

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