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Pag-IBIG Housing Loan Calculator

₱2,500,000
₱
%
₱250,000
20 Years
5 yrs15 yrs30 yrs
₱55,000
₱
Total Monthly Amortization P&I + Insurance
₱17,465/mo
Principal & Interest₱16,610
Est. Insurance₱855
Income Qualification Assessment

Pag-IBIG rules cap monthly payments at 30% of gross monthly income.

Min. Income Required:₱58,217
Debt-to-Income Ratio:31.8%
Loan Breakdown
Net Loan Borrowed₱2,250,000
MRI (Life Insurance) / mo₱518
Fire Insurance / mo₱338
Total Interest (20 Yrs)₱1,736,454
Total Out-of-Pocket Payment₱4,191,654

Complete Guide to Pag-IBIG Housing Loans in the Philippines

Learn how to compute your monthly home loan amortization, eligibility limits, fixed interest rates, and mandatory insurance costs.

What is the Pag-IBIG Housing Loan Program?

The Pag-IBIG Housing Loan (Home Development Mutual Fund or HDMF) is a government-backed mortgage facility designed to help Filipino workers acquire residential real estate. Qualified active members can borrow up to ₱6,000,000 to purchase residential lots, house and lot packages, townhouses, condominiums, or to fund home construction and renovation.

Key Eligibility Requirements

  • Active Membership: At least 24 monthly membership savings contributions.
  • Age Limit: Not more than 65 years old at loan application and not more than 70 years old at loan maturity.
  • Capacity to Pay: Monthly amortization must not exceed 30% to 35% of your gross monthly income.
  • Legal Capacity: No defaulted Pag-IBIG housing or short-term loan accounts.

Mandatory Insurance Requirements

Your monthly payment includes mandatory insurance premiums alongside principal and interest:

  • Mortgage Redemption Insurance (MRI): Protects against unpaid balances in the event of the borrower's death or total disability.
  • Fire & Allied Perils Insurance: Covers physical damage to the property structure from natural disasters or fires.

Understanding Capacity to Pay (30% vs 35% Rule)

Pag-IBIG evaluates loan approval limits based on your gross monthly income (GMI). Your maximum monthly amortization capacity is capped according to the total loan amount requested:

  • Loans up to ₱1,200,000: Your total monthly payment (including insurance) cannot exceed 35% of your gross monthly income.
  • Loans above ₱1,200,000: Your total monthly payment cannot exceed 30% of your gross monthly income.

Frequently Asked Questions (FAQ)

What is the maximum loanable amount under the Pag-IBIG Housing Loan?

The maximum loan limit is ₱6,000,000, subject to the borrower's actual financial need, property appraisal value, and proven capacity to pay based on gross monthly income.

What is the Affordable Housing Program for low-income earners?

Pag-IBIG offers a subsidized interest rate of 3.000% per annum for the first 5 years on loans up to ₱750,000 (socialized housing), specifically tailored for minimum-wage and low-income earners in the Philippines.

Can co-borrowers apply for a single Pag-IBIG Housing Loan?

Yes, up to three (3) qualified Pag-IBIG members who are relatives within the 2nd civil degree of consanguinity or affinity can combine their gross incomes into a single loan application to qualify for higher property values.