Pag-IBIG House and Lot For Sale
Almost everyone dreams of having a place to call their home -- be it a house and lot, a condominium unit, or a townhouse. However, buying your own home is an essential feat that's hard to come by, especially these days. Funding your dream home may seem like a challenge, especially if you're a low-income earner. However, there are ways to acquire your own place without necessarily having cash on hand. Pag-IBIG financing is one of the means for you to purchase a house and lot for sale.
Pag-IBIG Housing Loans to Help You Buy a House and Lot for Sale
Depending on your purpose, there are three types of loans you can avail of through Pag-IBIG to buy a house and lot for sale, and these are:
1. Acquired Assets Loan
This loan lets you purchase foreclosed properties and the process of buying your dream home is through Pag IBIG Fund’s public bidding. Once you are able to secure a property through the auction, you may submit the requirements for your loan to get approved.
2. Affordable Housing Loan
This offers lower maximum loan amounts to borrowers. However, keep in mind that you may apply for this type of loan if you meet these two income brackets:
a. If you have a gross monthly income of PhP14,000 and below, you may borrow a maximum amount of PhP400,000 which is payable for up to five years.
b. If you have a gross monthly income of PhP17,000 and below, you may borrow a maximum amount of PhP750,000 which is payable for up to ten years.
3. End-User Loan
This loan is for applicants who would like to buy a property that is not a Pag-IBIG acquired asset, or those who would like to build their home from scratch. Borrowers can apply for up to PhP6 million.
Your Choices for Pag-IBIG House and Lot For Sale
If you're looking at buying a house and lot for sale through Pag-IBIG housing loan, there are plenty of property options available. Properties like a 1-BR house and lot, a 2-BR house and lot, a 3-BR house and lot with two storeys, a brand new townhouse, a 4-BR pre-owned house and lot, a single-detached house and lot, a rent-to-own house and lot, or a duplex house.
How Much Do You Need to Buy a Pag-IBIG House and Lot For Sale?
The average price of a house and lot for sale through Pag IBIG can start at PhP1 million for a 2-BR house and lot, while a pre-owned 4-BR house and lot is listed in the market for PhP6.5 million. In addition, a 1-BR house and lot is priced at PhP500,000 and a 3-BR house and lot can be yours for PhP3.2 million. Depending on your needs, you may choose a house and lot with few bedrooms or more if you have a growing family.