The PAG-IBIG housing loan rates lowered!
April 3, 2009
The Housing and Urban Development Coordinating Council (HUDCC) and the Home Development Mutual Fund (Pag-IBIG Fund) Board of Trustees Thursday announced the creation of additional housing loan brackets with corresponding lower interest rates.
The new Pag-IBIG housing loan interest rates are as follows:
The Pag-IBIG Board also approved the increase in maximum loanable amount to P3 million, at an interest rate of 11.5 percent per annum for loans starting at over P2 million.
The Housing and Urban Development Coordinating Council (HUDCC) and the Home Development Mutual Fund (Pag-IBIG Fund) Board of Trustees Thursday announced the creation of additional housing loan brackets with corresponding lower interest rates.
The new Pag-IBIG housing loan interest rates are as follows:
- 6 percent rate for loans up to P400,000, and 7 percent for loans over P400,000 up to P750,000
- 8.5 percent for loans over P750,000 up to P1 million
- 9.5 percent for loans over P1 million to P1.25 million
- 10.5 percent for loans over P1.25 million to P2 million remains the same
The Pag-IBIG Board also approved the increase in maximum loanable amount to P3 million, at an interest rate of 11.5 percent per annum for loans starting at over P2 million.
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Sir:
There is nothing new or anything to offer here. It is simply a re-arrangement of an unrealistic and dishonest pattern of mortgage interest rates and payment plans to look new and exciting to someone who doesn't know any better.
In the final analysis, it will have no real effect for the average Filipino looking for a house and lot he can afford with his income.