At Lynville Land, we understand the significance of homeownership and the pivotal role it plays in the lives of many Filipinos. This is why we’re excited to share this comprehensive guide on house loans via Pag-IBIG financing, a valuable resource to help you turn your homeownership dreams into reality. Our commitment to changing Filipino lives, one family at a time, is at the heart of everything we do, making the journey towards homeownership with Lynville and Pag-IBIG even more meaningful.
What is Pag-IBIG Financing?
The Home Development Mutual Fund, commonly known as Pag-IBIG, has been a trusted partner for Lynville Land Development Corp and countless Filipinos in the pursuit of affordable housing, especially in CALABARZON. This government-owned and controlled corporation offers housing loans, popularly known as Pag-IBIG housing loans, designed to assist individuals and families in acquiring their dream homes or financing home improvement projects.
Eligibility Criteria
Before you embark on your journey to homeownership with Lynville and Pag-IBIG, it’s crucial to ensure that you meet the eligibility criteria:
- Active Pag-IBIG Membership: To avail of a Pag-IBIG housing loan, you must be an active Pag-IBIG member with at least 24 months of contributions, whether you’re a new member or an existing one.
- Age Requirement: Applicants must be 65 years old or below at the time of loan application and not more than 70 years old at loan maturity.
- Capacity to Pay: Demonstrating a stable source of income and a good credit history is essential to showcase your capacity to repay the loan.
Loan Application Process
To begin your journey towards homeownership with Lynville Land Development Corp and Pag-IBIG, follow these steps:
Get Loan Pre-qualification: Submit your application form and documents to Lynville Land Development Corp for pre-qualification. They will assess your eligibility and provide you with a housing loan affordability estimate.
Attend Lynville’s Loan Orientation: Start by attending a loan orientation session at Lynville Land Development Corp’s office to understand the loan application process and Pag-IBIG requirements.
Complete the Housing Loan Application and Pag-IBIG Requirements: Gather all necessary documents, including proof of income, valid identification, contract to sell and a filled-out loan application form.
Loan Approval and Release: Once your loan is approved, you’ll receive a Notice of Loan Approval and Disclosure Statement. Pay the necessary fees, and Pag-IBIG will release the loan proceeds to Lynville Land Development Corp.
Loan Repayment and Interest Rates
Loan repayment options are flexible, ranging from 5 to 30 years, depending on your preference and the type of loan you are qualified. Lynville falls into the Pag-IBIG housing loan program that is designed for low-to-moderate-income members and offers lower interest rates and extended loan terms. Monthly payments are made through salary deduction for employed members or through post-dated checks for self-employed members.
Conclusion
Lynville Land Development Corp, in collaboration with Pag-IBIG financing, is dedicated to helping you achieve your homeownership dreams. With our flexible loan options, affordable interest rates, and streamlined application process, we are here to make your journey to owning a comfortable and stable home a reality. If you’re eligible and eager to purchase a house, Lynville and Pag-IBIG financing are your trusted partners every step of the way.
