Pag-IBIG housing beside a bank loan

Two lenders, one balance

The balance of a home price is the part you do not pay as reservation and equity. In the Philippines that balance is often offered to Pag-IBIG or to a bank. Some projects also show an in-house plan. These are different contracts. A low sample monthly on a brochure is not a promise that either lender will take the loan.

Pag-IBIG housing is for members, and it has its own rules on contributions, income, and the loan amount it will consider. A bank looks at credit, income documents, and its own appraisal of the property. The Bangko Sentral ng Pilipinas supervises banks. It does not approve your housing loan, and it does not set the reservation fee of a village.

Read the current Pag-IBIG circular and the bank’s own offer. Rates move. A number you saw in a group chat last year is not a quote.

What the calculator on this site does

TapatBahay has an amortization calculator on each sample project. You can change the price, the down payment, the interest rate, and the term, and it will show a monthly figure, the amount financed, and the total paid. That figure is arithmetic. It is not a loan approval, not a Pag-IBIG endorsement, and not the rate a bank will offer you on the day you apply.

Use it to see how a higher rate or a shorter term changes the monthly. Then ask the lender for the real computation. If a seller types a rate into the calculator and calls the result “approved,” that word is doing work it has not earned.

Equity still has to be paid

Both paths leave the equity with you. The reservation is usually credited, then the down payment runs for a number of months, and only the remaining balance is what the lender sees. A Pag-IBIG plan does not erase a 20 percent equity. A bank plan does not erase it either, unless that bank’s product says so in writing.

Ask these questions of any computation:

• Which unit and which price is this?
• Is the reservation inside the equity or on top of it?
• How many months do you pay before turnover?
• What rate was typed in, and is it today’s Pag-IBIG or bank rate or a sample?
• What income documents will the lender ask for, including OFW documents if you work abroad?

A sample, not a quote

Haraya Fields, the Silang house-and-lot sample, lists Pag-IBIG among its financing options and shows a sample computation on the project page. Aurelia Residences, the Mandaluyong condo sample, does the same. Both are fictional. Their prices, reservation fees, and License to Sell lines are there so a buyer can practice reading a page. They are not offers, and they are not today’s lending rates.

When you look at a live project, ask for the developer’s computation and for the lender’s computation as two separate sheets. If they do not match, believe the lender about the loan and the developer about the equity schedule, and make sure you can pay the equity even if the loan takes longer than the flyer said.

Bring the sheet

Book a site visit or an online presentation and bring the computation you were given. The useful question is not “which logo is friendlier.” It is whether the equity fits, and whether anyone has actually filed an application.