Our new home

September 29, 2009 9:26pm CST
Last year 2007, we have started paying the house equity. This month our PAG-IBIG loan is being processed and we are waiting for the Ready for Occupancy signal from PAG-IBIG and the housing developer. The house is already built but it just bare. No divisions for rooms, no tiles. Good to know is that there is already a bathroom. As soon as we will have the go signal, we will eagerly occupied the house for some reasons. One is that so that we will no longer pay for a house rental and we will be traveling from home to work for a shorter time than before. By the way regarding PAG-IBIG housing loans. I need an idea if I, personally can loan for Home Development even if my husband has a housing loan. I need the money for the interior and appliances in our new home. can this be done? I have asked someone about this but she replied that we can have home development loan after two years since my husband has an existing housing loan. My point is that it is my husband who has a housing loan. How about my benefit as a PAG-IBIG member? Could I loan too? Please I need advice if you have some thoughts. Thanks
1 person likes this
6 responses
@besthope44 (12141)
• India
12 Jun 10
Well i wished for a dream home. And i got it recently. I got little amount for it and rest through loan. I am happy i got my dream home near my farm. Investing on home is life long asset for us and kids.
• United States
11 Mar 10
I do believe that even though you have had a loan in the past, they should give you another one as long as the purpose is repairing a house.
• Philippines
12 Oct 09
If I'm not mistaken, you can both take a loan being both members of PAG-IBIG. It is better to ask somebody from PAG-IBIG to confirm this. . . With regard to your your having a new home, I am glad that you finally got a unit of your own. Renting is more expensive than buying your own house even if it's just through loan.
@jpso138 (7863)
• Philippines
12 Oct 09
Congratulations on your new home. I am quite sure that you are very much excited. Well, with respect to pag ibig loan, I think you can secure your own loan under your own name considering that each of you have your own PAG-IBIG membership. So you can have your own loan for as long as you are qualified. Meaning to say for as long as you have no pending payments or penalties.
@Shebang (244)
• Philippines
3 Oct 09
Hi modvina. I consulted someone regarding your case. My question is, when did your husband acquire his housing loan? Was he single or married at that time? If your husband was single then you can also apply for a housing loan. But if you and your husband were married at the time of his loan, then you cannot apply for a housing loan since it's considered a conjugal property and you as a wife is a co-borrower. You can always go to your nearest Pagibig office to inquire regarding housing loan.
@anne25penn (3310)
• Philippines
30 Sep 09
Hi modvina! Congratulations on your new house. From what I know, you can always take another loan from PAGIBIG if it is for the repairs of an existing house even if your husband already has an existing loan. But it will depend on how many years you have already contributed. I suggest that you either get a credit card or another loan like from a bank since the loan for the renovation of your house.