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Cebuplaces Realty & Brokerage would like to challenge you whether you are a student, employee, working professional or a business person to explore your potential in real estate marketing and push out the edges of what you can be and achieve financial freedom. We are looking for people who are humble, teachable and willing to work hard full time or part time.We invite you to be part of our team today….email or contact us: at Tel no. (63) 2390890 or (63) 5143342 or visit us at our office at 104 V. Ranudo St., Cogon Ramos, Cebu City, besides Jo's Chicken Inato.


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Important Informations About Real Estate in Cebu

HMDF Loan Policies (Pag-ibig)
15 ways to prevent your home from repossession
Steps in Pag-ibig Loan Application
Pag-IBIG lowers housing loan rates effective July 2016
Metro Pacific awarded to construct 3rd bridge
Philippine Real Estate Laws Ownership, Practice, Taxes
Cebu Projects and Construction directory
Condominium and House and Lot ownership
How To Detect Fake Titles
Understanding Real Estate Terminologies
Is Buying Foreclosed Properties A Good Deal?
Forms of Contracts Under Philippine Laws
Development of Cebu's SRP
National Code of Ethics in Realty Service Practice
Real Estate : How To Stay Positive in Today's Market
10 Tips in Buying Real Estate
27 Ways to Secure Valid IDs in the Philippines
Buying a Condominium in the Philippines
Cebu: Promising Area for Global Investments
Investors pour P4.7B in Lapu-lapu City, Mactan Cebu
Business' plan for Mactan
Cebu Trans-axial project now with Eco Enterprise Council
Cebu North coastal road may cost P2.3B
Cebu now top choice for BPO expansion
Becoming a Real Estate Salesman in the Philippines
Developing a Residential Condo in the Philippines
The Concept of Philippine Condominium Ownership
Invest in the Philippines
P 30B earmarked for low-cost housing loans
Effects of RA 9679 on OFW Pag-IBIG members
HDMF REQUIREMENTS
P1B Mingla reclamation project endorsed to PRA, Neda
Friendship Bridge to link Cebu, Bohol
MCIA Passenger Terminal Building
Mactan airport terminal 2 to open in 2018
DOH advises to close Inayawan landfill

P 30B earmarked for low-cost housing loans

P 30B earmarked for low-cost housing loans

Pag-IBIG sees boom due to low interest rates
The State – Controlled Home Development Mutual Fund, popularly known as the Pag-IBIG Fund, has earmarked a record P30 billion for new low-cost housing loans this year to meet an expected boom in demand due to low-interest-rate regime.
In an interview Saturday, Pag-IBIG president Romero Quimbo said in 2007, the housing provident fund allotted P21 billion for housing loans but ended up lending an all-time high of P23.5 billion, up by 42.5 percent from the new loans released the previous year.
“And these are retail loans – with an average (size) of 475,000 per borrower-not the big developers. The market that we’re serving is less than middle income. We’re really reaching the C bracket of the population,”Quimbo said.
“We approximate that this year, it won’t be too far from that, “Quimbo said, noting that demand was being driven by affordable and below-market interest rates charged by Pag-IBIG as well as a more efficient processing of loan application.
Based on the amount of new loans budgeted for this year, Pag-IBIG is targeting a loan growth of at least 28 percent.
“The lower interest rates make housing loans more accessible, but it’s also partly due to a great marketing effort to propagate the program. A program will not be good without takers and a streamlining of the process was made,” he said.
The P30-billion housing loan budget for 2008 was announced by Vice President Noli de Castro during a recent Development Bank of the Philippines-organized Hong Kong roadshow for overseas Filipino workers.
De Castro, who also chairs the Housing and Development Coordinating Council, said it was the best time to borrow now that local interest rates had gone down, noting that the Pag-IBIG Fund can provide financing for low-cost housing units at an interest rate of 6-7 percent – from about 12 percent a few years ago-for a term of up to 30 years.
“At 7 percent (a year) for P750,000 housing unit, we computed the amortization at P4,000 – P5,000 a month as opposed to renting a house which can cost you as much as P10,000 (a month),” de Castro said.
As Pag-IBIG does not want the strong peso to lead to loan delinquency, Quimbo explained that the housing provident fund was now more aggressively targeting OFWs who are being paid in currencies that are gaining against the dollar such as the euro.
But a major challenge for Pag-IBIG this year would be to raise more funds to meet the booming demand for low-cost housing.
“This year, we have enough funds but if it increases by more than 40 percent, we should be able to borrow at a lower coupon rate because we are relending for the long term. It depends on how well the Bureau of the Treasury will be able to manage the interest rate environment,” he said.
Pag-IBIG plans to issue P5-P8 billion worth of bonds in the middle of the year to boost its funding resources.


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