🏠 Pag-IBIG Housing Loan Calculator
Calculate Pag-IBIG housing loan payments
Pag-IBIG interest rates typically range from 5.5% to 10.5% depending on loan amount and term
Maximum loan term is typically 30 years for Pag-IBIG housing loans
How to Use This Calculator
Enter Loan Amount
Input the Pag-IBIG housing loan amount in Philippine Pesos (PHP).
Enter Interest Rate
Input the annual interest rate. Pag-IBIG rates typically range from 5.5% to 10.5% depending on loan amount and term.
Enter Loan Term
Input the loan term in years. Maximum term is typically 30 years for Pag-IBIG housing loans.
Review Loan Results
See your monthly payment, total payment over the loan term, and total interest paid.
Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n - 1]
Where: P = Principal, r = Monthly Rate, n = Number of Payments
Total Interest = (Monthly Payment × n) - Principal
Example 1: ₱2,000,000 Loan
Loan Amount: ₱2,000,000
Interest Rate: 6.5%, Term: 30 years
Monthly Payment = ₱12,640.00
Total Payment = ₱4,550,400
Total Interest = ₱2,550,400
Example 2: ₱1,500,000 Loan
Loan Amount: ₱1,500,000
Interest Rate: 7.0%, Term: 25 years
Monthly Payment = ₱10,600.00
About Pag-IBIG Housing Loan Calculator
The Pag-IBIG Housing Loan Calculator is an essential tool for Filipino homebuyers to calculate monthly payments, total interest, and amortization for Pag-IBIG (Pag-IBIG Fund) housing loans. Pag-IBIG Fund is the Philippines' Home Development Mutual Fund, which provides affordable housing loans to its members. This calculator helps you understand the financial commitment of a Pag-IBIG housing loan, plan your budget, and make informed decisions about home financing in the Philippines.
Understanding Pag-IBIG loan payments is crucial for Filipino homebuyers because Pag-IBIG offers some of the most affordable housing financing options in the Philippines, with interest rates typically ranging from 5.5% to 10.5% depending on the loan amount and term. Pag-IBIG housing loans are available to active Pag-IBIG members who meet certain eligibility requirements, and they can be used to purchase, construct, or renovate residential properties. This calculator helps you see exactly how much you'll pay each month and over the life of the loan.
This calculator is valuable for Filipino homebuyers who are considering a Pag-IBIG housing loan, as it helps them understand the monthly payment amount, total cost of the loan, and total interest paid. It's also useful for existing Pag-IBIG borrowers who want to understand their loan better, plan for loan payments, or consider refinancing options. By calculating Pag-IBIG loan payments, you can make informed decisions about loan amounts, terms, and affordability, ensuring that your housing loan fits within your budget and financial goals.
When to Use This Calculator
- Home Buying: Calculate Pag-IBIG loan payments when purchasing a home
- Loan Planning: Plan your budget for Pag-IBIG housing loan payments
- Affordability Assessment: Determine if a Pag-IBIG loan is affordable
- Loan Comparison: Compare different Pag-IBIG loan amounts and terms
- Financial Planning: Plan for housing loan payments in your budget
- Refinancing: Evaluate Pag-IBIG refinancing options
Why Use Our Calculator?
- ✅ Pag-IBIG Specific: Designed for Pag-IBIG housing loans
- ✅ Accurate Calculations: Precise loan payment calculations
- ✅ Easy to Use: Simple interface for quick calculations
- ✅ Free Tool: No registration or fees required
- ✅ Financial Planning: Helps with home buying and loan planning
- ✅ Mobile Friendly: Calculate on any device
Understanding Pag-IBIG Housing Loans
Pag-IBIG (Pag-IBIG Fund) is the Philippines' Home Development Mutual Fund, which provides affordable housing loans to its members. Pag-IBIG housing loans are available for purchasing, constructing, or renovating residential properties, and they offer competitive interest rates typically ranging from 5.5% to 10.5% depending on the loan amount and term. To be eligible for a Pag-IBIG housing loan, you must be an active Pag-IBIG member who has made at least 24 monthly contributions.
Pag-IBIG housing loans have maximum loan amounts based on your income and the property value, and maximum loan terms of up to 30 years. Interest rates are fixed for the first few years and may adjust thereafter. Pag-IBIG loans are popular among Filipino homebuyers because they offer lower interest rates than many commercial banks and have more flexible eligibility requirements. This calculator helps you understand the financial commitment of a Pag-IBIG housing loan and plan your home purchase accordingly.
Real-World Applications
Home Purchase: A Filipino homebuyer is purchasing a ₱3,000,000 home and wants to know their Pag-IBIG loan payment. With a ₱2,400,000 loan (80% financing), 6.5% interest rate, and 30-year term, the monthly payment is ₱15,168, helping them plan their budget.
Loan Comparison: A borrower is comparing a 25-year term vs. 30-year term for a ₱2,000,000 Pag-IBIG loan. The 25-year term has a higher monthly payment but saves significant interest, helping them make an informed decision.
Affordability Check: A potential borrower wants to know if they can afford a ₱1,500,000 Pag-IBIG loan. They calculate the monthly payment and compare it to their income to ensure the loan is affordable.
Important Considerations
- Pag-IBIG loans require active membership with at least 24 monthly contributions
- Interest rates vary based on loan amount, term, and borrower qualifications
- Maximum loan amounts are based on income and property value
- Loan terms can be up to 30 years depending on loan amount
- Pag-IBIG loans may have different requirements than commercial bank loans
- Check current Pag-IBIG rates and requirements as they may change
Frequently Asked Questions
What is Pag-IBIG?
Pag-IBIG (Pag-IBIG Fund) is the Philippines' Home Development Mutual Fund, which provides affordable housing loans to its members. It's a government agency that helps Filipino workers save for housing and provides low-interest housing loans.
Who is eligible for Pag-IBIG housing loans?
To be eligible for a Pag-IBIG housing loan, you must be an active Pag-IBIG member who has made at least 24 monthly contributions. You must also meet income requirements and other eligibility criteria set by Pag-IBIG Fund.
What are Pag-IBIG interest rates?
Pag-IBIG interest rates typically range from 5.5% to 10.5% annually, depending on the loan amount, term, and borrower qualifications. Rates are generally lower than commercial bank rates, making Pag-IBIG loans attractive to Filipino homebuyers.
What is the maximum Pag-IBIG loan amount?
Maximum Pag-IBIG loan amounts vary based on your income, the property value, and other factors. Pag-IBIG typically finances up to 80-90% of the property value or appraised value, whichever is lower. Check with Pag-IBIG for current maximum loan amounts.
What is the maximum loan term for Pag-IBIG loans?
Maximum loan terms for Pag-IBIG housing loans are typically up to 30 years, depending on the loan amount and borrower qualifications. Longer terms result in lower monthly payments but higher total interest paid over the life of the loan.
Can I use Pag-IBIG loan for renovation?
Yes, Pag-IBIG housing loans can be used for purchasing, constructing, or renovating residential properties. Renovation loans may have different requirements and terms than purchase or construction loans, so check with Pag-IBIG for specific details.