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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Jerome Morada

Realtor & Webmaster

Good day! I'm Jerome, your friendly Real Estate Broker with PRC License 0012399 and HLURB registration. Just sharing simple tips, please share if you find it useful! Thanks!

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