(Infographic courtesy of Pag-IBIG Fund)
MANILA, Philippines — Pag-IBIG Fund has launched an early chicken promo granting a 10-year 3-percent sponsored rate of interest to the primary 30,000 debtors underneath the federal government’s expanded Pambansang Pabahay Para sa Pilipino (4PH) program.
In a Bagong Pilipinas Ngayon interview on Monday, Pag-IBIG Fund Public and Members Relations Group Vice President Jack Jacinto mentioned the initiative is a part of the company’s strengthened efforts to assist the Marcos administration’s housing agenda, which is to make homeownership extra reasonably priced and accessible to all Filipinos.
READ: Pag-IBIG Fund cuts socialized housing mortgage fee to three%
“Sa karaniwan po kasi, limang taon po iyong particular sponsored 3-percent fee, iyong unang limang taon po ng kanilang mortgage time period. Underneath po sa ating early chicken promo, iyon pong unang 30,000 debtors po natin ay mai-enjoy po iyan sponsored fee for the primary 10 years of the mortgage (The same old 3-percent sponsored fee applies just for the primary 5 years of the housing mortgage, however underneath this early chicken promo, the primary 30,000 debtors will take pleasure in this fee for a full ten years),” he mentioned.
The particular provide targets low-income and minimum-wage earners, notably first-time homebuyers.
READ: Pag-Ibig first-semester revenue highest in 45 years
To qualify, Metro Manila-based candidates should have a month-to-month earnings not exceeding P47,800, whereas these in areas outdoors the capital should earn not more than P34,800.
All abroad Filipino employees (OFWs), no matter earnings, are additionally eligible for this system.
Jacinto mentioned the discount within the rate of interest might translate to vital financial savings.
A socialized housing unit priced at P850,000 —the present value ceiling for house-and-lot models— would usually include month-to-month funds of round P5,400 to P5,500 underneath a daily mortgage, he mentioned.
The amortization declines to round P3,600 to P3,700 with the 3-percent sponsored fee, providing aid to cash-strapped households, he added.
READ: Pag-IBIG’s 50% earnings acquire strengthens members’ financial savings
To avail of the promo, debtors should apply and get authorized for a Pag-IBIG housing mortgage underneath the expanded 4PH program.
Jacinto mentioned no pre-determined listing exists and eligibility will likely be primarily based on a first-come, first-served foundation.
Candidates might submit their paperwork, together with proof of earnings, by means of the developer of the housing challenge, the regional workplace of the Division of Human Settlements and City Improvement, or any Pag-IBIG Fund department nationwide.
The early chicken promo applies to all socialized housing models underneath the expanded 4PH program, together with house-and-lot models price P850,000 or much less; condominium models not exceeding P1.8 million; and Pag-IBIG-acquired property throughout the similar value ceilings.
The company expects the promo to drive early functions and assist fast-track the federal government’s goal of constructing 1 million housing models yearly underneath the 4PH program. (PNA)
Learn Subsequent
Disclaimer: The feedback uploaded on this web site don’t essentially symbolize or replicate the views of administration and proprietor of Cebudailynews. We reserve the correct to exclude feedback that we deem to be inconsistent with our editorial requirements.
