MABALACAT CITY — Self-employed and the voluntary members of the Home Mutual Development Fund or Pag-IBIG Fund may apply for their housing loan provided they have to show proof of income.
This develop as Pag-IBIG Fund top officials clarified that the fund is servicing housing loan application of members who are formally employed. A certificate of employment is one of the key requirements set by the agency to ensure the borrowing capacity of the loan applicant.
The policy however leaves a larger sector to lose their opportunity to borrow from the Pag-IBIG Housing Loan program.
“The proof of income will be our basis in computing a borrower monthly amortization. From there we can determine their capacity to pay,” said Pag-IBIGpresident–CEO Acmad Rizaldy Moti during a press conference held at Xevera Mabalacat.
Moti and Human Settlement and Urban Development Secretary Eduardo del Rosario visited Xevera Mabalacat over the weekend where they graced the first anniversary of Westchester Realty and Development Corp., a developer that took over the rehabilitation of Xevera.
Del Rosario and Moti have agreed to accept self-employed and voluntary members of Pag-IBIG Fund as long as the borrowers have to meet the requirements set by the government.
“Our mandate is to give a decent housing for our low-salaried members who have the capacity to pay including self-employed and voluntary,” said Moti adding housing loan application will be validated by Pag–IBIG Fund.
Del Rosario’s visit was the first out-of-town inspection of township projects being developed by Westchester in Pampanga.
Pampanga is setting a benchmark for countryside urban and housing development as evident of the brisk sales, said former congressman and father of low-cost housing Rod G. Valencia.
Westchester is targeting 4,000 housing units completion before the end of the year, way ahead of the agreed timeline with Pag-IBIG Fund.
