?? Accept Any Overdue Pag-IBIG Financing Commission
People missed percentage can wreck your chance of getting recognized to own an alternate loan. Pag-IBIG refuses housing applications regarding consumers that have delinquent multi-objective loans or foreclosed/canceled housing mortgage profile with the company. Look at the established Pag-IBIG financing membership, or no, and you may pay-off any an excellent money before applying to have good the brand new houses financing which have Pag-IBIG.
?? Remain a steady Revenue stream
Thinking about quitting your task? Employment hopping usually harm your odds of bringing approved-more so for individuals who change to a reduced-using jobs or work which have unpredictable money.
Pag-IBIG tend to check your work history to evaluate when you find yourself economically secure enough to manage your monthly mortgage loans. Their a career tenure demonstrates your earnings stability.
If at all possible, you have a stable income source for at least several many years. You’re better off staying with your current occupations if you intend to try to get a loan that have Pag-IBIG in the future.
?? Check your Credit file and you may Replace your Credit history
Consider the credit score as the an expression of your honesty and you may obligations when handling finance and other bills. Any delinquency on your own bank card and you can loan money try an excellent red-flag to help you loan providers. When you yourself have a bad history of repayments, you may be less likely to want to become approved
Feedback your credit report at the least per year before you apply to own a casing financing on the Pag-IBIG Money. This may make you enough time to best people problems and you may alter your credit history. You can access your credit report from the Borrowing Recommendations Business or certainly one of the accredited credit agencies.
?? Apply for a cost You can actually Pay-off
Qualified Pag-IBIG people can be obtain up to ?6 billion to own investment property loans Evergreen CO, but that doesn’t mean you need to choose for the maximum amount. Whatsoever, brand new agencies have a tendency to nonetheless look at if you find yourself in fact licensed. An identical amount of verification and you can review also pertain actually if you’re borrowing currency value less than ?six billion.
Pag-IBIG provides a construction loan value calculator you to definitely easily exercises how much you can use and you will pay for the month-to-month amortization. Brand new computation is dependant on your revenue, your preferred financing title and you will fixed cost several months, while the projected value of the home we wish to buy. It’s also beneficial if you would like understand the requisite gross month-to-month money into the count we need to acquire.
?? Generate a higher Deposit
And come up with a giant deposit shows your financial stability. It’s also an earn for you due to the fact you’ll be borrowing a beneficial down matter about Pag-IBIG Finance, which ortizations.
When you’re calculated to improve a high down payment and ready to decelerate your purchase, envision doing a separate blast of income, such as front side gigs otherwise a company. When you yourself have good windfall, eg an urgent heredity, commission, or added bonus, make use of it to cover their down payment.
?? Ensure your Income File Reflects Any Money
The Certificate from A career and you will Compensation (CEC) renders or split the housing application for the loan. So it income file, which shows the terrible monthly money or other monetary positives, shows your own power to pay the loan.
The CEC need have exact and you will updated information. By way of example, if you has just had a raise, it should indicate your own current month-to-month paycheck. When you are acquiring de minimis masters or low-nonexempt allowances, consult the Time movie director to include like facts as well.
?? Think Obtaining the new Reasonable Housing Mortgage System
In the event the earnings try reduced, it’s hard to be eligible for really lenders on Philippines. However, fortunately, you can be eligible for Pag-IBIG’s Affordable Casing Mortgage Program.