How to Compute Pag-IBIG Housing Monthly Amortization?

The Easy Guide in Pag-IBIG Housing Computation

Hi! Here's a new guide in computing the Monthly Amortization under Pag-IBIG Funds Circular No. 310.

	Pag-IBIG Housing Factor Rates Guides
	Under Circular No. 310   /  per Php. 1,000 Loan
	Interest Rates per Preferred Fixing Period
Term	3 Years	5 Years	10 Years	15 Years	30 Years
in Years	7.985%	8.985%	10.000%	10.750%	12.250%
3	31.32945	31.79275	32.26791	32.62045	33.33384
5	20.26922	20.75108	21.24704	21.61795	22.37099
10	12.12483	12.65946	13.21507	13.63387	14.49199
15	9.54786	10.13374	10.74605	11.20948	12.16299
20	8.35507	8.98761	9.65022	10.15229	11.18565
25	7.70823	8.38169	9.08701	9.62083	10.71744
30	7.32719	8.03544	8.77572	9.33481	10.47896

The Interest Rate in Red is at Fixed Rate option.

How to compute, for example: 

* Property Price of House and Lot at Developer is Php. 1,100,000

* Required Down Payment of Developer is 20% payable in 12 months

* 80% Balance for pag-IBIG Financing

note: 10% or 20% down payment it depends on project, house classification or developer.

Computation:

Down Payment = Property Price x 20%

Down Payment = 1,100,000 x .20

Down Payment = Php. 220,000

note: Spot Cash down payment in 30 days has discounts

if, Reservation Fee is Php. 10,000

Down Payment less Reservation Fee

Net Down Payment = Php. 210,000

note: Reservation Fee are always deductible at down payment or at total price.

20% Down Payment payable in 12 months or if 15 months is applicable

12 months Down Payment - 17,500 per month

or, if 15 months Down payment - 14,000 per month

note: Stretched down payment depends on developer standard payment


80% Balance or Loanable Amount to Pag-IBIG Financing

80% Balance = Property Price x .80
80% Balance = Php. 880,000 Loanable Amount


Computation of PAG-IBIG Monthly Amortization

Using the above factor rates table, we'll use 7.32719 for term of 30 years at repricing rate[first 3 years at fixed rate then rep-ricing afterwards], then divided by per 1,000. See sample below.

Monthly Amortization = Loanable Amount x 7.32719 / 1,000
Monthly Amortization = 880,000 x 7.32719 / 1,000
Monthly Amortization = Php. 6,448 per month


The Php. 6,448 Monthly Amortization is fixed at first 3 years, then repricing afterwards in every 3 years span.

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