Should You Go Bank or Pag-IBIG? Compare Your Loan Options Now

Gabriel Mikael
Jun 9
1 min read

Buying your dream home? One of the biggest decisions is choosing the right loan. Should you go with a bank home loan or the Pag-IBIG housing loan? Let’s break it down based on your monthly income so you can decide wisely.

🔍 Quick Comparison: Bank vs. Pag-IBIG Housing Loan

Criteria	Bank Loan	Pag-IBIG Housing Loan
Monthly Income Needed	Minimum ₱25,000–₱40,000+	As low as ₱15,000 (for OFWs or employed locally)
Interest Rates	6.5% to 10% (variable)	3% to 7.5% (fixed for up to 30 years)
Loan Term	Up to 20 years	Up to 30 years
Maximum Loanable	₱1M–₱10M+ depending on income & appraisal	Up to ₱6M
Processing Time	Faster (5–15 banking days)	Moderate (15–30 working days)
Requirements	Strict (credit score, income docs)	More flexible (especially for members)
Best For	High-income earners & entrepreneurs	First-time buyers & employed individuals

💡 What’s Right For You?

✅ Choose Bank Loan If:

You have a stable high income.
You're buying a high-value property (₱5M and up).
You need fast loan approval and personalized terms.

✅ Choose Pag-IBIG If:

You're a first-time homebuyer.
Your income is below ₱30,000/month.
You want longer payment terms and lower monthly amortization.

📊 Sample Amortization Comparison (₱2M Loan for 20 Years)

Loan Type	Interest Rate	Monthly Income Needed	Estimated Monthly Amortization
Bank Loan	8%	₱45,000+	₱16,700/month
Pag-IBIG	6.5%	₱30,000+	₱14,900/month

Actual values vary per institution. Always request a loan quote before committing.

📞 Final Tip: Pre-qualify Before You Apply

Before choosing, ask:

What’s your gross monthly income?
What’s the property value?
How fast do you need the loan?

Get pre-qualified and compare loan terms side-by-side. This saves you time, money, and stress!

📣 Need Help Choosing the Right Loan?

📝 Message us for a free pre-qualification check and see what fits your budget best.

+639175156755

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Should You Go Bank or Pag-IBIG? Compare Your Loan Options Now