11/10/2021 0 Comments Pag-IBIG Housing loan vs Bank LoansShelter is a biological requirement for human survival based on the physiological needs, the first stage model of the Maslow’s Hierarchy of needs. Nowadays it sounds like an elusive dream for many to have a high quality and affordable home since availing or building a house entails an enormous amount of money, but not anymore because Housing Loans will help you finance this milestone.
Months, years or decades of working, savings and waiting to have the upfront funding to promptly pay for the property in full is not necessary anymore. With such Loans, you don’t have to rent or wait long to move into your dream home. Becoming an independent individual particularly is a big step that everyone is longing. The big question is which options generally are the best for you. In the Philippines, there are sort of several housing loans available. There may specifically be many micro lenders out there, but in terms of the amount you can borrow, Pag-IBIG or Bank really are better, which is quite significant. But which is the best option among the two options? It has become a hot topic among those who are still planning to buy a house through housing loans. Hopefully, this article will help you weigh in, which really is a pretty much better option for you based on your financial capacity. Why choose Home Development Mutual Fund (HDMF or known as PAG-IBIG Fund) as financing? The most popular program of the Pag-IBIG Fund that offers help to its members in providing them with affordable funding to meet their housing needs is the HDMF. It does this by Collaborating with local property developers and organizing affordable loans for homebuyers. If you are an active and contributing member of PAG-IBIG, there is a greater possibility for you to acquire a home loan, but subject to their terms and conditions. Other reasons to consider a Pag-IBIG real estate loan.
The current interest rate for a one-year fixed-rate loan is 5.75 percent as of January 2021. You can get an estimate of how much you can finance after you decide to buy if you're simply looking at residences for sale for now.
Edges of Bank Loan
Additionally, some banks provide competitive rates to entice potential homebuyers like you. The 1-year fixed interest rates for BDO, Maybank, and Security Bank house loans are 6.25 percent, 6.75 percent, and 6.25 percent, respectively.
When it comes to these two sorts of loans, it's difficult to be objective. However, it all comes down to your personal preferences, eligibility, and financial resources. Overall, both Pag-IBIG and bank housing loans offer a number of benefits. However, which is the preferable option depends on a number of circumstances. How much money do you need or wish to borrow? Do you prefer a shorter or longer time of repayment? Take into account all of your sources of revenue. Is their stability sufficient for you to manage your debt? BRIA Homes is a subsidiary of GOLDEN MV Holdings, Inc., one of the top real estate companies in the country. Acclaimed for its massive footprint of over 50 developments in major Philippine cities and municipalities, BRIA Homes is committed to bring quality and best-value residential communities closer to everyday Filipino families. Through a diverse portfolio of properties such as house-and-lots and condominiums, BRIA Homes promises to provide the right property option for every Filipino’s needs. To know more, visit their website at www.bria.com.ph, like and follow “Bria Homes, Inc.” on Facebook, Twitter, Instagram, YouTube, Pinterest, Spotify, Viber Community, Telegram Channel, Kakao Talk, LINE and WhatsApp, or call 0939-887-9637.
0 Comments
Leave a Reply. |
AuthorA real estate marketer in Philippines. Archives
October 2021
Categories |