The leading Real Estate of Cebu Philippines, where individuals can search to and compare.
Loan Entitlement based on Pag-IBIG Contributions
April 1, 2011Posted by on
A member’s loan entitlement shall be proportionate to his Pag-IBIG contributions (inclusive of the employer counterpart contributions), which shall be based on the following schedule:
Pag-IBIG Overseas Program (POP) contributions made in foreign currency shall be converted to its peso equivalent on the date when payment was made, rounded off to the nearest peso. POP members may also opt to pay the required/upgraded contributions in its local currency (peso) equivalent.
For loans up to Seven Hundred and Fifty Thousand Pesos (P750,000.00) which shall either be secured by a First Real Estate Mortgage or a Deed of Assignment of Contract to Sell on the property, which is bought from a developer and is covered by a buyback guaranty, the member’s loan entitlement shall be based solely on his Pag-IBIG contributions.