The Housing and Urban Development Coordinating Council (HUDCC) and the Home Development Mutual Fund (Pag-IBIG Fund) Board of Trustees Thursday announced the creation of additional housing loan brackets with corresponding lower interest rates.
The new Pag-IBIG housing loan interest rates are as follows:
- 6 percent rate for loans up to P400,000, and 7 percent for loans over P400,000 up to P750,000
- 8.5 percent for loans over P750,000 up to P1 million
- 9.5 percent for loans over P1 million to P1.25 million
- 10.5 percent for loans over P1.25 million to P2 million remains the same
The Pag-IBIG Board also approved the increase in maximum loanable amount to P3 million, at an interest rate of 11.5 percent per annum for loans starting at over P2 million.
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