Any skipped payment can ruin your chance of getting accepted to possess another type of loan. Pag-IBIG refuses homes applications of individuals having unpaid multiple-objective funds or foreclosed/canceled casing loan levels on the department. Look at your established Pag-IBIG loan levels, if any, and you may repay one an excellent money before applying getting a the fresh new housing financing with Pag-IBIG.

?? Remain a stable Revenue stream

Thinking of quitting your work? Business moving commonly hurt your chances of delivering accepted-much more for individuals who change to a lower life expectancy-using jobs or a job that have abnormal income.

Pag-IBIG often look at the employment history to assess whenever you are financially stable enough to handle any month-to-month mortgages. Your own a position tenure demonstrates your revenue stability.

Essentially, you will have a constant source of income for at least one or two age. You happen to be best off sticking with your jobs if you are planning to try to get that loan that have Pag-IBIG in the future.

?? Check your Credit file and you will Replace your Credit rating

Think about the credit rating once the a representation of your own trustworthiness and you may obligation when approaching finance and other obligations. People delinquency in your bank card and you can loan repayments is actually an excellent warning sign to help you loan providers. If you have a detrimental reputation money, you’re less inclined to become approved

Opinion your credit report no less than a-year before applying for a property loan towards Pag-IBIG Finance. This will make you plenty of time to correct people errors and alter your credit history. You have access to your credit report from Borrowing from the bank Advice Agency otherwise certainly one of the accredited credit reporting agencies.

?? Apply for an expense It’s possible to Pay

Licensed Pag-IBIG people is also borrow doing ?6 mil to have funding a home, however, that doesn’t mean you really need to go for the most. Anyway, the institution tend to however view while indeed qualified. A comparable number of confirmation and you will evaluation also incorporate also while credit money really worth below ?six mil.

Pag-IBIG has actually a housing loan value calculator one easily exercises exactly how far you can obtain and spend during the month-to-month amortization. Brand new calculation is dependent on your revenue, your favorite loan label and you may fixed costs months, and estimated worth of the house we wish to buy. Additionally, it is of good use if you want to understand requisite terrible month-to-month earnings on matter we need to borrow.

?? Generate increased Advance payment

To make a giant advance payment demonstrates debt balance. Furthermore a winnings for you since you’ll be credit a lower number regarding Pag-IBIG Money, loan place in Carbondale which ortizations.

If you find yourself calculated to boost a higher deposit and you can ready in order to slow down your purchase, imagine creating another type of stream of earnings, instance front performances otherwise a small business. If you have a beneficial windfall, including surprise inheritance, payment, or extra, utilize it to pay for the down payment.

?? Ensure that your Money Document Shows All your valuable Income

The Certificate from A job and you can Compensation (CEC) makes otherwise crack your housing application for the loan. It money document, which ultimately shows your gross month-to-month income or any other economic experts, demonstrates your capacity to pay-off your loan.

Your own CEC need have real and you may updated advice. By way of example, for people who has just got a boost, it has to mean the most recent month-to-month salary. Whenever you are researching de minimis positives otherwise low-taxable allowances, consult your own Time movie director to incorporate such as for example details also.

?? Envision Trying to get the fresh new Sensible Property Loan System

In the event your income was reasonable, it’s hard to help you be eligible for extremely home loans from the Philippines. But the good news is, you may also qualify for Pag-IBIG’s Affordable Construction Loan Program.