Financing Options: Pag-ibig

Pag-ibig financing is the most common option among Filipinos who want to purchase real estate in Davao City and anywhere in the Philippines since it has longer terms (can be up to 30 years) and lower interest rates. To be able to avail a housing loan from Pag-ibig, you have to be an active member first. One of the requirements is that you need to have contributed at least 24 months worth of Pag-ibig contribution before applying for a house loan.

For example: House and lot package at Elenita Heights Subdivision – a low-cost subdivision that has affordable house and lot packages in Davao City.

House Model:  Gabriella
Lot area: 150sq.m
Floor area: 45sq.m
Processing fee: 25,000
House and Lot package cost: 895,000
Loan amount (Pag-ibig):  814,000 *Pag-ibig will finance this amount; Loan amount can be up to 3M*
Equity: 81,000 *House and lot package cost – Loan amount = EQUITY*

Equity can be payable in...
6 months: 13,500
1 year w/ 2% int/month: 7,659.33
 
Estimated amortization: 7,955.13
Estimated insurances: 8,144.80
Required net income: 19,890
HDMF filing fee: 3,000

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Note: This is a sample computation only. There will probably be a slight price increase in the house and lot packages in the upcoming opening of Elenita Heights Phase 3. The prices and computations are subject to change without prior notice. Contact us for updates.

Elenita Heights Sample House: Soledad

Some subdivisions in Davao with house and lot packages that can be availed thru Pag-ibig financing:

Elenita Heights Subdivision – Upper Catalunan Grande, Davao City
Grace Park Subdivision – Matina Pangi, Davao City
Santiago Villas – Catalunan Grande, Davao City
Chula Vista Residences – Cabantian, Buhangin, Davao City
Bambu Estate – Mintal, Davao City

Related Articles:
What properties can you avail with your Pag-ibig membership?
Elenita Heights Subdivision Phase 3 Will Open Soon
Paying in Spot Cash
Paying in Deferred Cash
Financing Options: In-house financing
Financing Options: Bank financing

Ready to purchase a real estate property in Davao City? Check out this real estate website:
Davao City Real Estate Properties