Pag-Ibig Restructuring Program

Under this pag-ibig restructuring program 2023, the loan borrower has the facility to renegotiate the tenure and payment of the loan and try to convert them into easy and payable installment of fund housing loan. As the name of this program, shows the restructure of the terms according to the borrower payment. The interest rate in this program is only 6.375% annually for 3 years.

Secondly the subsidized interest rate are given by the pag-ibig fund organization or preserved for the fixed duration. In both types the interest rate would be 8% annually.

Pag-Ibig Restructuring Program

Only the loan borrower whose do not exceed 12 month unpaid installments will have the facility to avail from this program special loan restructuring of pag-ibig. Even the borrower can purchase the house or assets of the company from using this payment

Fee for the special housing loan restructure program

There is no fee for the application of this program and no down payment is required to avail from this program.

Insurance premiums

For the protection of the member and their spouses one year insurances premium required for this program. Insurance pay the help any balance of the house in case of member’s death or natural calamity.

Time duration to repay

This special housing loan restructure program can be paid up to 30 years. Members can also apply for the more loans from the company at one time if the salary is enough to pay the installments.

How to apply

For this program the borrower has to go to the official website and from there they will get the reference number after application this number used to track the status of the account. There is no documents are required for this loan only personal data is require. You will get the e-mail of approval from the pag-ibig.

Condonation process

There is a way of condonation of the penalties and the additional interest rates for those members cannot pay them. The taxes and the other extra interest will be relaxed by amending the rules for 30 days.

Check This Pag ibig Housing Loan Calculator

Pros of the special housing loans restructure

  • The biggest pro point of this program is it facilitates the borrower to return te amount with ease. It benefits members in pandemic days of COVID 19.
  • It increases the house loan compilation efficiency.

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