Title
Pag-IBIG Loan-to-Value and Multiple Loans Rules
Law
Hdmf Circular No. 353
Decision Date
May 15, 2015
HDMF Circular No. 353 establishes revised loan-to-appraised value ratios for housing loans, allowing borrowers to access multiple loans up to a total of P6,000,000, while ensuring that all loans remain within their repayment capacity and linking defaults across accounts.

Law Summary

Conditions for Availment of Multiple Housing Loans

  • Borrowers may avail multiple Pag-IBIG housing loans provided the following conditions are met:
    • The total amortization payments for all loans are within the borrower's capacity to pay.
    • The sum of outstanding balances of existing housing loans and the loanable amount for the new loan does not exceed ₱6,000,000.
  • For co-borrowers, their proportionate share in the outstanding balance of existing housing loans under tacked loans is included in the aggregate loan computation.

Default and Multiple Loan Accounts

  • If any one housing loan account among multiple loans held by a borrower defaults, all housing loan accounts of the borrower are considered in default.

Annual Review and Effectivity of Guidelines

  • The guidelines are subject to annual review considering the viability of the Fund and prevailing market conditions.
  • The circular applies retroactively to all housing loan applications received starting from April 1, 2015.

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