Possible kaya na mag loan ako sa pagibig pero di ako mag ddp? Example: Upon checking the calculator ang kaya mapahiram sakin let's say 4m, pero ang amount ng property na gusto ko kunin is nasa 2-3m lang. Pwede kaya na ipasa ko nalang sa pag ibig yung 100% ng amount tapos ang gagastusin ko nalang is yung mga processing fees? https://pagibigmp2calculator.net/pag-ibig-salary-loan-calculator/
It is possible to apply for a loan with Pag-IBIG (Home Development Mutual Fund) even if you don't have a down payment (DP) or equity. However, it's important to note that Pag-IBIG has specific rules and guidelines for loan applications, and the loan amount you can get will depend on several factors, including your income, capacity to pay, and the appraised value of the property.
Here's how it typically works when applying for a Pag-IBIG housing loan with no down payment:
Loan-to-Appraised Value Ratio: Pag-IBIG usually provides a loan based on a percentage of the appraised value of the property. The loan-to-appraised value ratio can vary, but it's commonly around 80% to 90% for most properties.
Equity or Down Payment: The remaining amount (usually 10% to 20%) of the property's appraised value will be your equity or down payment. This is the amount you need to pay from your own funds.
Loan Amount: The actual loan amount you can get will be the appraised value minus your equity or down payment. For example, if the property you want to buy is appraised at 3 million pesos and the loan-to-appraised value ratio is 90%, then the loan amount you can get is 90% of 3 million pesos, which is 2.7 million pesos. In this scenario, you would need to come up with the remaining 10% (300,000 pesos) as your equity or down payment.
Processing Fees: In addition to the equity or down payment, you will need to pay processing fees, which may include appraisal fees, documentary stamp taxes, notarial fees, and other administrative charges. These fees are typically not part of the loan amount.
If the property you want to buy is within the loan amount you can get Archerypick.com(e.g., 2.7 million pesos in the example above), you can proceed with your loan application and cover the processing fees separately. However, it's essential to confirm the specific requirements and procedures with Pag-IBIG to ensure a smooth loan application process.
Keep in mind that the information provided is general, and actual loan terms and conditions may vary based on Pag-IBIG's policies and regulations at the time of your application. It is advisable to visit the nearest Pag-IBIG branch or check their official website for the most up-to-date information and to seek advice from a Pag-IBIG representative to discuss your specific situation and options.
started by wilova on 20 Jun 23
Here's how it typically works when applying for a Pag-IBIG housing loan with no down payment:
Loan-to-Appraised Value Ratio: Pag-IBIG usually provides a loan based on a percentage of the appraised value of the property. The loan-to-appraised value ratio can vary, but it's commonly around 80% to 90% for most properties.
Equity or Down Payment: The remaining amount (usually 10% to 20%) of the property's appraised value will be your equity or down payment. This is the amount you need to pay from your own funds.
Loan Amount: The actual loan amount you can get will be the appraised value minus your equity or down payment. For example, if the property you want to buy is appraised at 3 million pesos and the loan-to-appraised value ratio is 90%, then the loan amount you can get is 90% of 3 million pesos, which is 2.7 million pesos. In this scenario, you would need to come up with the remaining 10% (300,000 pesos) as your equity or down payment.
Processing Fees: In addition to the equity or down payment, you will need to pay processing fees, which may include appraisal fees, documentary stamp taxes, notarial fees, and other administrative charges. These fees are typically not part of the loan amount.
If the property you want to buy is within the loan amount you can get Archerypick.com(e.g., 2.7 million pesos in the example above), you can proceed with your loan application and cover the processing fees separately. However, it's essential to confirm the specific requirements and procedures with Pag-IBIG to ensure a smooth loan application process.
Keep in mind that the information provided is general, and actual loan terms and conditions may vary based on Pag-IBIG's policies and regulations at the time of your application. It is advisable to visit the nearest Pag-IBIG branch or check their official website for the most up-to-date information and to seek advice from a Pag-IBIG representative to discuss your specific situation and options.