1. How do you know if you can qualify to be a member of PAGIBIG?

• You can be a member if you have a net disposable earning of P3,000 and above to become a mandatory member. Net disposable earnings means income after basic needs have been paid for from your salary. It is the employer who has the obligation to make sure that you are made a member of PAGIBIG. If you earn less than that amount, you can still be a voluntary member and give contribution directly to PAGIBIG. Thus, housewives and Overseas Filipino Workers can also become voluntary members.

2. What can I use this housing loan for?

• The housing loan can be used for the purchase of a lot only, purchase of a house and lot (whether the house is old or new), building a new house, extension or repair of existing structures, refinancing of an existing loan mortgage, or some combinations of the above.

3. How much is the loanable amount?

• The ceiling that a member can borrow from PAGIBIG is P2 million. But to avail of the P2 million depends mainly on your monthly contribution and your monthly income. Here's good news on loan ceilings. PAGIBIG has issued a new directive allowing members with a P200 monthly contribution (including employer's), who previously can only avail of a P250, 000 loan, to avail of the P500, 000 loan. And for the P2 million loan the monthly contribution required was reduced from P1,600 to P950.

4. What is the interest rate on the Pag-Ibig housing loan?

• Here's the best news. PAGIBIG already as the lowest housing loan interest rate compared to the banks and has recently approved an even lower rate. Before November 23, 2006, the rate for a P300,000 loan was 9 percent. It has now been lowered to 6 percent. The highest loan rate previously was 14 percent for a P2 million loan. Currently this has been lowered to 13.5 percent. This means that the monthly amortization for a P300,000 loan for a socialized house for 30 years has been reduced to P1,798.65 from P2,413.87 previously.

5. Are there any other charges?

• When availing of a housing loan, a processing fee of P3,000 will be collected. The amount of P1,000 is collected upon filing of the loan application and the P2,000 upon the release of the loan.
  
  Mortgage/Sales Redemption Insurance (MRI/SRI) is also required so that the property will be automatically paid up and given to the identified beneficiary in case the borrower dies.
  
  In the case of residential units, the borrower should also get fire and allied perils insurance equivalent to the appraised value of the residential unit or the loan amount, whichever is lower.
  
  Premium payments for the first year are deducted to the amount released (take out). The payments for the succeeding years are to be prepaid monthly together with the loan amortization.
  
  

6. What if I really can't afford the monthly amortization of the property that I want?

• Up to three persons can help in paying for a loan. However, this privilege is limited to persons of up to the first degree of consanguinity, meaning, this includes only parents of the principal borrower or his/her children.

7. Is there a more convenient way to pay my loans?

• You have any of the following options in paying your loan: over the counter (OTC) at the PAGIBIG office, salary deduction (deducted automatically by your employer), issuance of post dated checks (PDC), or auto debit arrangements with banks.

8. How do I become a member?

• Actually, if you are employed, your employer will take care of your membership. The administration or human resource staff will process everything for you. If you are self-employed, you may apply at PAGIBIG. OFWs can also become members.

1. What are the subdivision features and amenities?

• Police Station & 24hr Security
• Access to Public Transport
• No Floods!
• Allocation for Commercial Space just outside the subdivision
• See AMENITIES page

2. What is the source and existing condition of water used?

• Maynilad water connection available from 4am to 10pm.

3. How much is the water rate?

• P40 per cubic meter. No minimum consumption.

4. What are the house models and features of each?

• There is only one unit model available for Neovista Homes Annex and Phase 1.
• All units are made entirely from concrete, longspan roof sheets and metal roof frames and each house is sold with window jaylousies, tiled toilet and kitchen counters, circuit breaker and panel doors. For paint, the exterior are painted with 2 coats and the interior with 1 coat.

5. What are the investment opportunities in owning a Neovista Homes unit?

• Our Total Contract Price (TCP) is below the latest appraisal from Pag-ibig Fund.
• Strict enforcement of the Deed of Restrictions paired with planned commercial development near the entrance of the project keeps the investment value of Neovista Homes units stable and appreciative.

6. What are the business opportunities in owning a Neovista Homes unit?

• You can earn supplemental income as a referring sales agent for the new units we are building.
• You will be given priority to lease the best business spaces in the commercial area that will be built near the entrance of the subdivision.