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PIA Press Release
2008/10/08

Pag-IBIG Fund's "Magaang Pabahay, Disenteng Buhay" program extended

by Prix D Banzon

Davao City (8 October) -- The Home Development Mutual Fund popularly known as Pag-IBIG Fund has extended the implementation of its program "Magaang Pabahay, Disenteng Buhay Program.

Pag-IBIG Fund for Southern Mindanao Group vice president Jose W. Banzon, Jr. said the extension is covered under Circular No. 241 issued by the Fund's Chief Executive Officer Atty. Romero FS Quimbo after Pag-IBIG members clamored for its extension.

The program, he said aims to provide Pag-IBIG members the opportunity to acquire decent and affordable housing for their families.

He said all Acquired Assets of Pag-IBIG Fund are on sale to the public on a first come, first served basis. Cash buyers will be given 20% discount and 15% discount for purchases made through Pag-IBIG Fund Housing Loan. An additional 5% litigation discount (if applicable) is also given. Loan interest up to Php 2 Million is 6%, if loan payment is made on or before due date, 8% if loan payment was made after due date.

Amortization is as low as Php 1,799.00 per month (exclusive of insurances) for a Php 300,000.00 loan payable in 30 years. The program is on the 3rd year promotional period, which started sometime last October 26, 2006.

Interested buyers are advised to take note of the following application procedure of "Magaang Pabahay, Disenteng Buhay Program:"

  1. Check on the list of the Fund's available acquired assets for sale
  2. Secure, accomplish and submit two (2) copies of Reservation Form
  3. Receive duplicate copy of the Reservation Form duly signed by the Fund's authorized representative. You will be given a priority number and take note of that priority number.
  4. Confirm your offer to purchase and pay the 5 percent downpayment within 5 days from date of reservation. Otherwise, the reservation shall be cancelled.
  5. The remaining 95 percent shall be paid either thru cash or Pag-IBIG Housing Loan.

Documentary requirements for purchase made through Pag-IBIG Housing Loan:

  1. Housing Loan Processing Fee of P3,000.00
  2. Income Tax Return/W2
  3. Certificate of Employment & Compensation (duly notarized)
  4. Latest (1) month Payslip (duly certified by the employer)
  5. Audited Financial Statement for Self-employed
  6. Latest Employment Contract for OFWs
  7. Photocopy of TIN Card & Cedula
  8. Member's Status Verification Slip (MSVS)

The acquired housing units are located in the cities of Davao, Tagum, Samal, Panabo and General Santos, Koronadal, Cotabato, Kidapawan and Tacurong. And also in the provinces of Compostela Valley, Davao del Norte, Davao Oriental, Davao del Sur, South Cotabato, Sarangani, North Cotabato, Maguindanao and Sultan Kudarat.

Interested buyers are requested to visit or call the following Acquired Assets Unit of Pag-IBIG Fund namely : DAVAO BRANCH, 2F Pryce Tower Condominium, JP Laurel Avenue, Davao City Tel. No. (082) 224-4733; TAGUM BRANCH, 2F Ramos Bldg., Arellano St., Tagum City Tel. No. (084) 400-4698; GENERAL SANTOS BRANCH, 2F RD Bldg., Santiago Blvd., General Santos City Tel. No (083) 552-7632 COTABATO BRANCH, 6F CYM Bldg. Don Rufino Alonzo St., Cotabato CityTel. No. (064) 421-6946. (PIA) [top]

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