Any missed commission is also destroy your chance of getting accepted having a unique financing. Pag-IBIG declines construction applications out of consumers having unpaid multi-goal money otherwise foreclosed/terminated housing loan levels to your institution. Look at your existing Pag-IBIG financing account, or no, and repay one a great money before applying to have good the new houses loan which have Pag-IBIG.

?? Remain a steady Revenue stream

Thinking Castle Rock Colorado payday loans reviews about quitting your job? Work moving tend to harm your chances of delivering accepted-way more if you change to a lowered-using business otherwise a career having irregular money.

Pag-IBIG will look at your employment record to evaluate whenever you are economically steady adequate to manage your month-to-month mortgages. Your own work period shows your earnings balances.

If at all possible, you’ll have a reliable source of income for around a couple many years. You will be better off staying with your business if you intend to try to get that loan which have Pag-IBIG in the future.

?? Check your Credit history and you will Change your Credit rating

Think of the credit score since a reflection of the honesty and you will responsibility whenever approaching fund or other obligations. One delinquency in your charge card and you will mortgage payments is a good red-flag to loan providers. When you have a detrimental history of payments, you will be less likely to want to get approved

Comment your credit report at least per year before you apply to own a casing mortgage to the Pag-IBIG Financing. This will leave you enough time to proper people mistakes and you may change your credit history. You have access to your credit score from the Borrowing Information Corporation otherwise among their accredited credit reporting agencies.

?? Make an application for an expense You’ll be able to Repay

Certified Pag-IBIG people can also be acquire around ?six mil to have financing a property, but that does not mean you really need to choose the absolute most. Whatsoever, brand new agencies usually still take a look at when you are actually licensed. The same level of confirmation and you will comparison will even apply also if you’re credit currency value below ?six billion.

Pag-IBIG have a construction financing value calculator one to easily exercise just how far you can acquire and pay when you look at the monthly amortization. The fresh new calculation is based on your revenue, your favorite loan name and you will repaired pricing several months, in addition to estimated value of the house or property we would like to purchase. Additionally, it is beneficial if you want to know the expected disgusting monthly money on the matter we would like to obtain.

?? Create a higher Down-payment

And also make a massive deposit proves your financial balances. Additionally, it is a victory for you since you will end up borrowing a beneficial all the way down number regarding the Pag-IBIG Financing, which often ortizations.

If you are computed to increase increased down payment and willing so you can decelerate you buy, consider carrying out a special stream of earnings, instance front side gigs or a company. For those who have an excellent windfall, such an unexpected genetics, percentage, otherwise bonus, use it to fund their deposit.

?? Ensure that your Money File Reflects All your valuable Income

Their Certificate away from Employment and Settlement (CEC) renders otherwise split the houses loan application. That it income file, which ultimately shows the gross month-to-month money or other economic pros, shows their capability to pay off your loan.

Your CEC need consist of exact and upgraded suggestions. As an instance, for individuals who recently got a boost, it has to imply the most recent month-to-month income. When you find yourself researching de minimis positives or non-nonexempt allowances, request their Hr director to include including information as well.

?? Imagine Making an application for the brand new Sensible Houses Mortgage System

If for example the earnings is actually reduced, it’s hard to help you qualify for extremely home loans on Philippines. However, fortunately, you are able to qualify for Pag-IBIG’s Sensible Houses Mortgage Program.