Any missed percentage can be destroy your chance of going acknowledged to possess yet another loan. Pag-IBIG refuses housing see the site applications from borrowers that have delinquent multi-objective financing otherwise foreclosed/canceled housing loan accounts towards the institution. Look at your present Pag-IBIG financing profile, or no, and you can pay-off any outstanding fund before applying to have an effective this new housing financing which have Pag-IBIG.

?? Continue a constant Income source

Considering quitting your work? Occupations hopping tend to damage your odds of getting approved-much more for people who switch to a diminished-paying employment or a position with unusual money.

Pag-IBIG commonly check your a career background to evaluate when you find yourself economically secure enough to deal with your monthly mortgages. Your employment period shows your earnings stability.

If at all possible, you will have a steady source of income for around a few age. You are better off staying with your job if you plan to apply for financing having Pag-IBIG in the future.

?? Look at the Credit history and you will Improve your Credit score

Think of the credit score just like the a representation of the trustworthiness and you may responsibility when dealing with financing and other financial obligations. People delinquency on your own mastercard and you can loan costs try a red-flag in order to lenders. When you have an adverse reputation payments, you’re less inclined to get approved

Comment your credit history about a-year before applying to possess a construction financing to your Pag-IBIG Money. This will give you enough time to right one problems and improve your credit history. You have access to your credit report through the Borrowing Advice Company or among its qualified credit reporting agencies.

?? Submit an application for an amount It’s possible to Pay

Qualified Pag-IBIG users is obtain as much as ?six million for money property, but that doesn’t mean you will want to choose the most. Whatsoever, the brand new agencies often nonetheless check when you find yourself in fact accredited. The same amount of confirmation and you may testing might apply even if you find yourself borrowing from the bank money worth less than ?six mil.

Pag-IBIG enjoys a houses loan value calculator you to rapidly exercise just how far you could potentially obtain and you may spend for the monthly amortization. The fresh new formula is dependent on your earnings, your favorite loan identity and you will fixed pricing period, as well as the projected property value the house we should pick. It’s also of good use should you want to know the expected gross monthly income on the number we need to obtain.

?? Generate a high Advance payment

And work out a big advance payment shows your financial balances. Also, it is an earn for your requirements because the you’re going to be borrowing a great lower count about Pag-IBIG Money, which ortizations.

When you are calculated to improve increased deposit and you can willing in order to decrease your purchase, thought doing a different sort of blast of money, including top performances or a small business. When you yourself have a beneficial windfall, particularly an unexpected inheritance, payment, otherwise added bonus, make use of it to fund your deposit.

?? Make sure your Earnings Document Shows All of your current Money

Your Certificate out-of A career and you may Payment (CEC) renders otherwise break their homes application for the loan. This income document, which ultimately shows your own disgusting month-to-month earnings and other economic advantages, demonstrates their power to pay-off the loan.

Their CEC need certainly to contain perfect and you may current pointers. For-instance, for people who has just had a raise, it should mean your own newest monthly paycheck. If you’re searching de minimis professionals or low-taxable allowances, request your Hours movie director to incorporate such as for instance info as well.

?? Believe Making an application for new Affordable Homes Loan System

In case your money is low, it’s difficult so you’re able to be eligible for extremely mortgage brokers on Philippines. However, luckily for us, you are able to qualify for Pag-IBIG’s Affordable Homes Financing Program.