2. Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya, Gobyerno
IPON
PAUTANG
PABAHAY
Pag-IBIG I
Modified
Pag-IBIG 2
(MP2)
o Multi-Purpose Loan
o Calamity Loan
o Regular Housing Loan
o Affordable Housing Loan
3. Essential Features of Pag-IBIG Savings Program
• Doubles/triples your money
• Annual dividend earning
• Tax-Free
• Government-guaranteed savings
• Portability of Savings
• Return of Savings
• Availment of loan programs
4. • Retirement age (ER@45, OR@60, and MR@65)
• Death
• Permanent and total disability or insanity
• Permanent departure from the country
• Termination from the service by reason of health
• Other causes as may be approved by the Board
• Membership maturity (20 years or 240 monthly savings)
Grounds for Withdrawal of Savings
5. Modified Pag-IBIG 2 (MP2) Savings Program
• A voluntary savings program open to all Pag-IBIG I
members with a monthly gross income exceeding
Php5,000.00
• Rate of contribution : Php500.00
• Term : five (5) years
• Savings are entitled to a preferential dividend rate
higher than that of Pag-IBIG I.
6. • An added benefits to Pag-IBIG members through mutually
beneficial partnerships with private companies
• Increasing Pag-IBIG Fund’s presence in the daily lives of
the members
• Functions as discount,
rewards, and Pag-IBIG
transaction cards
• Pilot implementation in
Baguio, Cebu and Davao
Pag-IBIG Loyalty Card
8. • Enhanced Portfolio Categorization
✓Regular Housing Loan
✓Affordable Housing Loan
HOUSING
LOAN PROGRAM
PhP 6M from 3M
• Increased Maximum Loan to
* Over P65 Billion annually in total allocation for Housing Loans
9. Individual Home Financing Program
✓ Principal borrower’s age shall not
exceed 70 years old at date of loan
maturity
30 YearsMaximum
of up to
provided that:
10. Individual Home Financing Program
All Active Pag-IBIG members with :
✓ at least 24 months contributions
✓ not more than 65 years old at the
date of loan application, insurable and
is not more than 70 years old at the
date of loan maturity
✓ legal capacity to acquire and
encumber real property
11. Individual Home Financing Program
Must also have:
✓ Updated Pag-IBIG housing loan- for existing
borrowers (*Multiple Housing effective April 2015)
✓ No Pag-IBIG housing loan foreclosed,
cancelled, bought back, or voluntarily surrendered
✓ If with existing Pag-IBIG
Multi Purpose Loan (MPL), payments
should be updated upon Housing Loan
application
12. ✓ Purchase of residential lot or adjoining lots
(max 1,000 sq.m.; min 28 sq.m.)
✓ Purchase of house & lot, townhouse or
condominium unit (adjoining units)
✓ Construction of house
✓ Improvement of house
✓ Refinancing of an existing loan
Individual Home Financing Program
13. Individual Home Financing Program
✓ Lot purchase with house construction
✓ Purchase of residential unit with
home improvement
✓ Refinancing with home improvement or
house construction
15. Shall be based on the
lowest of the following:
Actual Need
Capacity to Pay
Loan-to-Appraisal Value Ratio
Individual Home Financing Program
16. PRU: Selling Price
House Construction: Total Construction Cost
Refinancing: Outstanding Balance
Actual Need
35% of your Gross Monthly Income, for loans up
to P1,700,000
30% of your Gross Monthly Income, for loans over
P1,700,000
Capacity to Pay
17. Tacking Provision:
Maximum of three (3)
qualified Pag-IBIG
members
Capacity to Pay
Individual Home Financing Program
18. LOAN AMOUNT PERCENTAGE ON APPRAISAL
Up to 1.7M 90%
Ex. Selling Price : 500,000
Capacity to Pay: P500,000
Appraisal is P500,000 x 90% =
PhP 450,000
Loanable Amount is PhP 450,000
Over P1.7M to P6M 85%
Ex. Selling Price : P2M
Capacity to Pay: P3M
Appraisal is P3M x 85% =
PhP 2.55M
Loanable Amount is PhP 2M
Loan to Appraisal Value Ratio
19. Individual Home Financing Program
The interest rate shall be re-priced periodically, depending on the
chosen fixed-pricing period of the borrower. Interest rates may
be fixed for 3, 5, 10, 15, 20, 25 or 30 years.
Loan
Amount
Indicative Rates per Re-Pricing Period
3-yr 5-yr 10-yr 15-yr 20-yr 25-yr 30-yr
Up to P6M
Effective June
1, 2015
6.985%
6.500%
7.825%
7.270%
8.775
8.035%
9.385 %
8.585%
9.675 %
8.800%
10 %
9.050%
11.375%
10.000%
* Changes every six months
23. Individual Home Financing Program
Mortgage Redemption Insurance
✓ Principal borrower and his co-borrowers
shall each be covered by the MRI to the
extent of their individual loan entitlements
Fire & Allied Perils
Insurance
25. Individual Home Financing Program
Fees to be paid upon filing:
✓ PhP1,000 Processing Fee
✓ PhP2,000 Inspection Fee
Fees deducted from Loan Proceeds:
✓ PhP2,000 Processing Fee
Balance
✓ One-year Insurance
Premium
26. Monthly amortization shall start exactly
one (1) month from the DV/ Check Date.
DV/ Check Date First
Amortization
Date
Regular Amortization
Schedule
25 June 2017 25 July 2017 Every 25th of the
month
Individual
Home Financing
Program
27. Failure to pay THREE (3) consecutive months
contribution and amortization
✓ Outstanding loan shall be
due and demandable
✓ Shall constitute a
lien on the member’s contributions
✓ Account shall be endorsed for foreclosure
Individual
Home Financing
Program
29. ✓ Purchase of residential lot
✓ Purchase of house & lot, townhouse or
condominium unit (old, new or acquired
asset)
✓ Construction or completion of
residential unit
Individual Home Financing Program
30. LOAN AMOUNT Loans up to P450,000 Loans up to P750,000
INTEREST RATE
3.0%
5 Year Fixed
6.5%
10 Year Fixed
CLUSTER 1
(NCR)
GMI up to P15,000 GMI up to P17,500
CLUSTER 2
(REGIONS)
GMI up to P12,000 GMI up to P14,000
31. TERM OF LOAN (in
years)
MONTHLY AMORTIZATION
3.0% 6.5%
Loan
Amount
450,000
Loan
Amount
750,000
15 3,107.62 6,533.31
20 2,495.69 5,591.80
25 2,133.95 5,064.05
30 1,897.22 4,740.51
32. Individual
Home Financing
Program
✓ Less than 28 sqm lot area
✓ Less than 18 sqm condominium floor
area
✓ Title under the name/s of deceased
owner/s
✓ Title with liens/ encumbrance/s (Sec 7
of RA 26)
✓ Free Patent Title not covered by RA
10023
✓ Title with disputes, claims in the court
33. Individual
Home Financing
Program
✓ Married individuals not legally separated and
cannot secure marital consent or Special
Power of Attorney (SPA) from spouse
✓ Properties with road right of way less than
1.5 meters
✓ Land types classified other than Residential
Use
✓ Properties with “Rights” instead of “Titles”
as proof of ownership
34. Pag-IBIG Fund is
OUR Fund!
Help us by providing
quality borrowers.
Why choose Pag-IBIG ?
Enhancements include:
A 100% Increase of the maximum loanable amount limit, from the current P3 million to P6 million. With this, we may are sure to expand our market and further serve more members.
Breakdown of HL borrowers from January to March 2012
2. We shall also now have two (2) Housing Loan portfolios instead of just one. We shall categorize these as
Socialized Housing Loan Program
Subsidized rates sourced from tax savings
Targeted Beneficiaries (minimum wage earners)
Regular Housing Loan Program
Increase in Loanable amount to 6 Million
Risk-based interest rates
Adoption of a Borrowers Evaluation System to improve Underwriting
ACCELERATED PAYMENTS – any amount in excess of the monthly amortization due shall be treated as future amortization. However, upon request of the borrower and provided the amount to be applied is equivalent to at least one monthly amortization, said amount shall be applied to the principal.
The availability of the loan package for over P3M to P6M shall be limited by the Fund’s annual budget allocation for the said package.
Up to 750K – 35% of Monthly Gross Income
Over 750K – 30% of Monthly Gross Income
For government ees: take home pay should not fall below five thousand pesos
Co- borrowers must pass eligibility requirements
Co-borrowers are jointly and severally liable with the principal borrower for the loan but only to the extent of his/ her loan entitlement.
Interim Coverage – upon issuance of Notice of Approval (NOA) or Letter of Guaranty (LOG) by Pag-IBIG;
Regular Coverage – effective on the date of loan take-out
MRI… should any of the borrowers die only his portion of the entire loan shall be extinguished by MRI.
In the case of default, the following remedies may be adopted:
Pag-IBIG Fund shall endorse the account to Foreclosure; or
The principal borrower may enter into a Deed of Sale with an eligible Pag-IBIG housing loan borrower.
Prior to the filing of the Petition for Extra-Judicial Foreclosure, the TAV (principal and co-borrowers) shall be applied to his outstanding loan obligation, except if the borrower / co- borrower has an existing housing MPL/ Calamity Loan.
If there is existing MPL/ Calamity Loan, the TAV to be applied to the housing loan obligation shall be NET of the outstanding MPL / Calamity loan obligation plus six (6) months worth of estimated penalties and interest. This shall apply regardles of the status of the MPL/ Calamity Loan.
Enhancements include:
A 100% Increase of the maximum loanable amount limit, from the current P3 million to P6 million. With this, we may are sure to expand our market and further serve more members.
Breakdown of HL borrowers from January to March 2012
2. We shall also now have two (2) Housing Loan portfolios instead of just one. We shall categorize these as
Socialized Housing Loan Program
Subsidized rates sourced from tax savings
Targeted Beneficiaries (minimum wage earners)
Regular Housing Loan Program
Increase in Loanable amount to 6 Million
Risk-based interest rates
Adoption of a Borrowers Evaluation System to improve Underwriting