February 24, 2009

Pag-Ibig Fund's Housing Loan Program

I was checking out Pag-Ibig Fund's Housing Loan Program and I was surprised to find an item on additional loans:

14. ADDITIONAL LOANS

A qualified Pag-IBIG member who has an existing housing loan may avail himself of an additional housing loan for the following purposes:
a. house construction or improvement of a house constructed on a lot purchased through a Pag-IBIG housing loan; or
b. home improvement.
The additional loan shall be treated as separate and distinct from the original loan, and the interest rate of which shall be in accordance with the rates provided for in these guidelines. Hence, the original loan shall still be subject to the interest rates prevailing at the time it was taken out.

I am so excited and I will check this out! I wish I qualify.


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