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Pag-IBIG Fund loan calculator

Pag-IBIG Fund loan calculator online in the Philippines in 2022. How to figure out the loan yourself? A handy tool that will show whether you can pay off a loan, help you choose lending with affordable payments.

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Calculate the loan at Pag-IBIG Fund
Interest rates are given in accordance with the rates of the Pag-IBIG Fund in Manila as of 03.12.2022
Loan amount
i

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PHP
PHP
50000 ₱
1000000 ₱
Loan term
i

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months
days
3
60
Interest rate per annum
i

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10.50 %
20.00 %
Type of payments
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The Home Development Mutual Fund (HDMF), also known as the Pag-IBIG (Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya at Gobyerno) Fund, is a government-owned and monitored corporate entity that is responsible for the administration of the federal savings scheme and affordable housing financing for Filipinos.

The Pag-IBIG Fund was established by Presidential Decree No. 1530, signed by President Ferdinand E. Marcos on June 11, 1978, in response to the national need for a savings program and affordable home finance. Its original objective was to serve as a provident fund to encourage Filipinos to save. The fund was operated by the National Home Mortgage Finance Company (NHMFC), starting in March 1979. A government corporation is tasked with increasing house loan availability to Filipino workers.

The Pag-IBIG Fund's most popular program is its housing loans, which assist its members by providing affordable finance for their housing needs. HDMF achieves this through collaborating with local real estate developers and offering cheap loans for home purchasers (Pag-IBIG members).

The loan had a lower interest rate than the market rate and was due over an extended period. Pag-IBIG Fund provides a house loan with a low-interest rate of 4.5% (for a loan of ₱450,000) and a loan period of up to 30 years. A qualifying member is eligible for a loan of up to ₱6 million. They also have a loan calculator for the housing loan, which we will focus on in this article.

What is a Pag-IBIG loan calculator?

The Pag-IBIG loan calculator will estimate your monthly installment based on your principal balance, interest rate, and repayment term. When you take out a Pag-IBIG loan, you repay more than the loan amount. The monthly loan payment includes interest, which is the cost of borrowing money when the loan matures.

It isn't easy to assess the exact cost of your monthly payments with the different interest rates. You may not know the precise amount until you receive the loan. However, you should have a solid idea of your monthly payments before signing on the dotted line to ensure you don't borrow more than you can afford. Before you apply, you can use the Pag-IBIG loan calculator to determine the terms of your loan.

How does the Pag-IBIG loan calculator work?

This loan calculator is a fantastic resource for any Pag-IBIG member wishing to acquire a loan. Input your loan details, such as the desired loan proceeds, your minimum gross monthly income, the loan length, the monthly installment payment schedule you like, and the total amount you would repay shows. Essentially, this can help you determine whether a loan is worthwhile. Note that other loans on the website, like the multi-purpose loan, the calamity loan, the short-term loan, the salary deduction loan, etc., do not have a loan calculator.

When a Filipino citizen has decided on a loan, they may go to the Pag-IBIG website and select the loan calculator. Then input the necessary information, such as the down payment amount, loan period, etc. Following that, the outcome will be displayed practically quickly.

Pag-IBIG loan calculator inputs

First and foremost, you must specify what you want the calculator to accomplish, and then you will see the below inputs:

Pag-IBIG loan calculator outputs

The outputs you will see while using the tool are listed below:

Pag-IBIG loan EMI calculator formula

Apart from calculating the terms of a loan, applicants must be sure they fulfill all the loan requirements before going on to get the housing loan application form. An example is ensuring they won't be more than 70 on loan maturity. They must also have their documents in place. Examples are the following documents: transfer certificate, municipal mayor certificate, medical certificate, supporting documents, etc., because there is no need to calculate if you are not eligible.

The Pag-IBIG mortgage EMI calculator is an internet tool that estimates your monthly loan EMI payment. You may calculate your EMIs with Pag-IBIG housing's easy-to-use home loan EMI calculator. Input the loan amount, fixed interest rate duration, and loan term into the calculator and click Calculate. The EMI calculator will generate an estimate based on your input. The computer avoids human errors and time-consuming computations and may be used to arrange your mortgage in seconds. Contact the Pag-IBIG customer service representatives for further information and guidance on housing loans.

You can use their housing loan calculator to figure your monthly payment or do it manually if you're ready to do some arithmetic. The following is a typical formula for manually computing your monthly mortgage payment:

M = {P[(1+R)^(Nx12)]}/[(1+R)^(Nx12) -1]

Where: 

The financial institution calculates the monthly payment based on the principal, interest to be paid, and loan term. Because the principal amount is significant in the loan's early years, interest due accounts for a large portion of the EMI. The interest component of the loan decreases as the loan matures, while the principal component climbs continuously.

Types of Pag-IBIG loan calculator

Pag-IBIG offers just one loan calculator, the housing loan calculator. However, this single loan calculator can be used for three distinct purposes:

Required income calculator

Assuming you already know the price of the home you want to buy, you're not sure how much your minimum monthly interest should be. The Pag-IBIG loan calculator will determine the monthly interest necessary to qualify for the loan. It will show you the projected monthly amortization that you will be paying after the loan is authorized and the gross monthly income requirement that you should include in your proof of income.

This calculator helps in calculating the income required for your desired loan amount. You must fill in all the input data, like the desired loan amount, the preferred repayment period, and the fixed pricing period. To determine the income required for your desired loan amount on the Pag-IBIG housing loan calculator, follow the steps below:

  1. Visit the Pag-IBIG website.

  2. Hover your mouse around Programs & benefits, and click on Pag-IBIG housing loan.

  3. Scroll down to access the Housing loan affordability calculator.

  4. Click on Click here to select what you want to compute, and select How much income is required for your desired loan value?

  5. Input your desired loan amount, your preferred repayment period, and your preferred fixed pricing period. Your loan calculator output will be displayed immediately.

Loanable amount calculator

You could consider borrowing, but you're unsure if your salary qualifies. The Pag-IBIG loan calculator can also determine how much you may borrow depending on your gross monthly interest. It will offer you an estimate of the loanable amount you can seek.

This calculator helps in determining your maximum loanable amount. You must fill in all the input data, like your gross monthly interest, the preferred repayment period, and the fixed pricing period. To determine how much you can borrow based on your income on the Pag-IBIG housing loan calculator, follow the steps below:

  1. Visit the Pag-IBIG website.

  2. Hover your mouse around Programs & benefits, and click on Pag-IBIG housing loan.

  3. Scroll down to access the Housing loan affordability calculator.

  4. Click on Click here to select what you want to compute and select How much you can borrow based on your income?

  5. Input your gross monthly income, your preferred repayment period, and your preferred fixed pricing period. Your loan calculator output will be displayed immediately.

Total borrowable amount calculator

You discovered the property you want to buy, believe you are qualified for a housing loan via Pag-IBIG or have been repaying for a home and want to continue it through a Pag-IBIG housing loan. The Pag-IBIG loan calculator can calculate the maximum loanable amount you may borrow from Pag-IBIG, the projected gross monthly interest requirement that should be included in your proof of income, and the expected monthly loan amortization that you would pay after the loan is authorized.

This calculator helps determine your maximum borrowing amount based on the appraised value of the property you want. You must fill in all the input data, like the estimated value of the Property, the preferred repayment period, and the preferred fixed pricing period. To determine how much you can borrow based on the appraised value of the property on the Pag-IBIG housing loan calculator, follow the steps below:

  1. Visit the Pag-IBIG website.

  2. Hover your mouse around Programs & benefits, and click on Pag-IBIG housing loan.

  3. Scroll down to access the Housing loan affordability calculator.

  4. Click on Click here to select what you want to compute, and select How much you can borrow based on the value of the property?

  5. Input the estimated value of property, your preferred repayment period, and your preferred fixed pricing period. Your loan calculator output will be displayed immediately.

Benefits of Pag-IBIG loan calculators

Some of the advantages of using the Pag-IBIG loan calculators are as follows:

Functions of Pag-IBIG loan calculators

Below are some of the functions you will likely see as you are using the tool:

Examples of calculations using the Pag-IBIG loan calculator

Example 1. If you want a Pag-IBIG housing loan with the following terms, and you want to calculate how much is your required income:

Inputting the above data into the calculator, we have the following output:

First, select How much income is required for your desired loan value?, and then input the data. You will then have:

Example 2. You want a Pag-IBIG housing loan with the following terms, and you want the tool to determine how much you can borrow based on your income:

Inputting the above data into the calculator, we have the following output:

First, select How much you can borrow based on your income?, and then input the data. You will then have:

How to perform complex calculations using a Pag-IBIG loan calculator?

Considering a Pag-IBIG housing loan with the following inputs:

The borrower wants to know how much they can borrow based on the property's value, so they select this option and input the above data. They will have the below output: