One missed commission normally destroy your chance of getting approved getting a separate financing. Pag-IBIG refuses casing applications of borrowers with outstanding multiple-goal fund otherwise foreclosed/canceled homes mortgage profile to your agency. Look at your present Pag-IBIG mortgage membership, or no, and you can pay off people the money before you apply to have good the fresh new housing mortgage which have Pag-IBIG.

?? Keep a reliable Revenue stream

Considering quitting your task? Employment moving commonly hurt your chances of providing acknowledged-much more for people who switch to a lower life expectancy-spending jobs or americash loans Copper Mountain a job which have unpredictable earnings.

Pag-IBIG have a tendency to look at your a position records to assess when you are economically secure adequate to deal with your entire month-to-month mortgage loans. Your own work tenure demonstrates your revenue balance.

Preferably, you'll have a constant revenue stream for at least two age. You will be better off sticking with your work if you are planning to apply for a loan that have Pag-IBIG soon.

?? Look at the Credit report and you will Alter your Credit history

Consider the credit history once the a reflection of trustworthiness and you will obligation when handling fund or any other financial obligations. People delinquency on your own bank card and financing money is actually a red flag to loan providers. When you have a bad history of money, you will be less likely to get approved

Opinion your credit history at least a-year before you apply getting a construction mortgage towards Pag-IBIG Fund. This may make you plenty of time to right one errors and you will improve your credit history. You have access to your credit report from Credit Recommendations Enterprise or certainly one of their certified credit bureaus.

?? Apply for an amount You can Pay

Licensed Pag-IBIG players is also borrow doing ?six mil to possess financial support a home, but that does not mean you need to pick the most. After all, the brand new agencies commonly nonetheless evaluate if you find yourself in reality qualified. An equivalent number of confirmation and you may research will apply also when you are credit currency worth below ?6 billion.

Pag-IBIG enjoys a housing loan value calculator you to definitely easily exercise exactly how much you might acquire and pay inside the month-to-month amortization. The fresh new calculation is based on your earnings, your favorite loan title and you will repaired costs period, and the projected property value the home we should get. Additionally, it is helpful if you want to be aware of the necessary gross month-to-month earnings with the amount we wish to acquire.

?? Generate a top Down payment

While making a large down payment proves debt balance. It is also a winnings to you personally given that you will be credit an excellent all the way down amount about Pag-IBIG Money, which ortizations.

Whenever you are computed to increase a high deposit and willing to help you decelerate you buy, believe doing a unique stream of money, such as for example top gigs otherwise a small business. For those who have an excellent windfall, such as for instance an urgent genetics, payment, otherwise bonus, utilize it to cover the down payment.

?? Ensure that your Income Document Shows Your entire Earnings

Your Certificate out-of Work and you can Payment (CEC) can make otherwise crack the casing loan application. It money file, which shows your terrible monthly money and other economic benefits, proves your power to pay-off your loan.

Their CEC need to have direct and you may updated advice. Such as, for folks who recently had a boost, it should indicate the latest monthly income. When you're searching de minimis gurus or non-taxable allowances, demand the Hours director to provide like facts as well.

?? Think Making an application for brand new Affordable Casing Financing System

In the event your money try low, it's hard so you can qualify for most home loans on the Philippines. But luckily, you could be eligible for Pag-IBIG's Sensible Construction Loan System.