July 10, 2013

Pag-Ibig Fund's Full Risk-Based Pricing Model

Last month, I processed my application for Pag-Ibig Fund's Full Risk-Based Pricing Model. For the next three years, my interest rate will be reduced from the current 9% to 7.895%.  In peso terms, that's a deduction of almost P500 per month.  Not bad actually.  The 7.895% interest rate will be repriced automatically after 3 years and it may go up or down, depending on the prevailing market rate.  However, we hope to be able to pay this housing loan by next year so we are not really that concerned.

In other news, my husband went yesterday to our home and posted a For Rent sign. Yep, I have finally given in and will now accept that I wont be able to live here.  The plan is to pay the current home loan by next year, and apply for a new one, and then move in two years.  By then, my eldest will be in college, the middle child will be starting his high school, and the youngest in Grade 5.  Oh well let us see how this fares as plans go.