Housing loan available for Pag-ibig Fund members

By Carlito M. Dar  

BAGUIO CITY --  Be a member of PAGIBIG Fund now as aside from housing loan opportunity, every monthly membership contribution you will pay will add-up as your savings that can also earn annual dividend.

PAGIBIG Fund - Baguio Housing relations Officer Kristabel Asiong,  aired this invitation in an interview over  the PIA Hour radio program  at  radio station DZWT, Thursday.

 Asiong said being a PAGIBIG member, one can avail  of up to P6 million housing loan funding assistance, either for buying a lot, house and lot or condo unit, or even for house construction or home improvement that is payable in easy monthly - term payments that can be spread-up to 30 years.

 “Being a member for two years or having a total of two years monthly contribution  entitles a member for a housing loan which amount or computation will be based on the property being bought (lot, house and lot or condo) or the extent of construction or home improvement to be made and the member’s capacity to pay based on his/her gross monthly income”, she said.

 “A member can also get up to two co-borrower, preferably a relative up to second degree of consanguinity who are also PAGIBIG members,” she added.

Aside from housing loan,  PAGIBIG members will always be member and every monthly contribution payment, continuous or not, will add up to his savings and earn annual dividend.

 She urged  those who have been members in the past to continue paying their membership, even as an individually paying or voluntary members so that they can increase their savings and be able to avail of other PAGIBIG fund programs.

 For an individually paying member,  contribution is P200 per month. But Asiong also encourages members to increase their individual contribution  so that they can save more money and earn bigger dividends.

 “We also offer  multi-purpose loan to our active members, wherein they can borrow 60 to 80 percent of their total savings that is payable in two years with a very low interest of 10.75 percent per annum. The multi-purpose loan can also be renewed just after six months of payments and rebates on interest is also being offered to members who opt to pay their loan in full anytime within the two-year payment term”, she said.

 Asiong also said PAGIBIG Fund has  earned over P9 billion dividends in 2012 shared by  PAGIBIG members, including the more than 117,000 members under its  Baguio office, which covers Baguio City, Benguet and Mountain Province.