Here are the other fees beyond the total house and lot package:
- Reservation Fee – an initial cash out that is needed in order to retain/reserve a house and lot under your name which is deductible from the processing fee.
- Processing Fee – used to pay for all documentation needs, taxes, permits and other logistical support that is needed in order to transfer the house and lot to your name.
- Homeowner Association’s Membership Fee – paid before moving-in
- Fire Extinguisher – paid before moving-in
You will begin to pay your monthly amortization upon approval of your loan. You will be informed by our office and shall receive a Notice of Installment or Amortization from Pag-IBIG Fund a moth after the approval.
All is smooth as long as you pass the initial credit investigation of FCI and submit all necessary loan documentary requirements. As a guide, all Pag-IBIG member – borrower must:
- Have been an active member for at least 24 months;
- Not more than 70 years old upon loan maturity;
- Has the legal capacity to acquire and encumber real property;
- Has no outstanding Pag-IBIG Housing Loan, either as principal or co-borrower;
- Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back;
- Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application.