People skipped payment is wreck your chance of getting accepted to own another loan. Pag-IBIG declines housing loan applications of individuals that have unpaid multiple-purpose financing otherwise foreclosed/terminated housing financing levels with the company. Look at your present Pag-IBIG loan levels, or no, and you will pay any a fantastic fund before you apply getting a beneficial the latest property loan that have Pag-IBIG.

?? Keep a steady Income source

Thinking about stopping your task? Employment moving have a tendency to harm your chances of providing acknowledged-much more for folks who change to a lesser-using work otherwise a job that have unusual money.

Pag-IBIG will look at your a position background to assess whenever you are economically secure sufficient to deal with all of your current month-to-month mortgages. Their a career period proves your income balance.

Ideally, you will have a reliable income source for around several years. You happen to be best off adhering to your existing employment if you plan to apply for financing which have Pag-IBIG soon.

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

Think about the credit history once the an expression of your sincerity and you will obligations whenever handling loans or other obligations. People delinquency on your mastercard and you can mortgage money is actually a beneficial warning sign to loan providers. When you have a bad history of repayments, you’re less likely to want to get approved

Review your credit report about per year before you apply to own a housing financing to your Pag-IBIG Fund. This will make you plenty of time to right people mistakes and change your credit rating. You have access to your credit report from the Credit Suggestions Agency otherwise certainly one of the qualified credit bureaus.

?? Sign up for a price You can actually Pay off

Qualified Pag-IBIG participants can obtain to ?6 mil to possess funding property, but that doesn’t mean you will want to pick the absolute most. Anyway, the latest department will however glance at while in reality licensed. An equivalent quantity of verification and you will assessment will also implement actually if you’re credit money value below ?6 billion.

Pag-IBIG has a casing loan affordability calculator one to rapidly exercises how much you could acquire and pay into the monthly amortization. The brand new formula is dependent on your income, your favorite financing title and you may repaired pricing months, as well as the projected property value the house or property we should buy. Additionally it is of good use should you want to be aware of the requisite terrible monthly money towards the matter we need to borrow.

?? Build a higher Advance payment

And come up with an enormous advance payment shows debt balances. Additionally, it is an earn to you once the you’ll end up borrowing an excellent lower matter from the Pag-IBIG Funds, which often ortizations.

While calculated to raise increased downpayment and you can ready to decelerate your purchase, imagine performing a unique stream of money, such as for instance top performances or a small business. When you yourself have an excellent windfall, particularly an unexpected genetics, percentage, otherwise incentive, use it to fund your own deposit.

?? Be sure that Earnings File Reflects Your entire Money

Their Certificate of A job and you may Settlement (CEC) can make otherwise break their homes application for the loan. Which income document, which ultimately shows their disgusting month-to-month money or any other financial professionals, proves your own capability to repay your loan.

Your own CEC need to consist of appropriate and you will current recommendations. Such as, americash loans Fleming for many who recently got an improve, it has to indicate your latest month-to-month salary. If you’re getting de- minimis pros or non-taxable allowances, demand your own Hours movie director to add such as for example details too.

?? Think Trying to get the new Affordable Construction Loan Program

In case your earnings is actually lower, it’s hard so you’re able to be eligible for extremely home loans on the Philippines. However, thank goodness, you’ll be able to be eligible for Pag-IBIG’s Affordable Homes Financing Program.