I have a Pag-Ibig housing loan payable for 15 years. We are now on our 10th year, and I am seriously thinking of taking out a bank loan to pre-pay the balance. I can get a very good rate for the bank loan since it will be on an affiliate of my employer. Since the amount being deducted from the principal of the loan is only 1/8 of the monthly amortization, then I think I can save a lot. The only problem is if I can afford the deduction from my monthly take home pay. Hmm, I will have to create a spreadsheet with this and I will tell you how much I can save if I do this. I will update this post soon.