Policy on loan-to-appraised value ratio
- For retail housing loan accounts, the loan-to-appraised value ratio shall be based on the loan amount and the appraised value of the collateral.
- Up to P1,250,000, the applicable loan-to-appraised value ratio is 90%.
- Over P1,250,000 to P6,000,000, the applicable loan-to-appraised value ratio is 85%.
- The loan-to-appraised value ratio may be adjusted depending on the result of the Borrower’s Evaluation System.
Multiple housing loans—conditions to qualify
- A borrower may avail of multiple Pag-IBIG Housing Loans if both conditions are met.
- First, the resulting amortization payments for all loans must be within the borrower’s capacity to pay.
- Second, the aggregate loan value must not exceed P6,000,000.
- The aggregate loan value is the sum of:
- the outstanding balances of the borrower’s existing housing loans, and
- the loanable amount for the new housing loan.
- If the borrower is also a co-borrower, the borrower’s proportionate share in the outstanding balance of the existing housing loan under a tacked loan must be included in computing the aggregate loan value.
Multiple loans—default consequence rule
- If the borrower has multiple housing loan accounts and one (1) account becomes in default, then all of the borrower’s housing loan accounts shall be considered in default as well.
Review, administration, and authorized amendment
- The guidelines in HDMF Circular No. 353 are subject to annual review.
- The annual review must consider the viability of the Fund and prevailing market conditions.
- HDMF Circular No. 353 is implemented through the rules it amends under Circular No. 310.
- Darlene Marie B. Berberabe, Chief Executive Officer, issued the circular under HDMF Circular No. 353.