PAG - IBIG HOUSING GUIDELINES CIRCULAR  247

(Effective APRIL 1, 2009)

MONTHLY AMORTIZATION FACTOR PER P1,000.00

FIRE INSURANCE:
                              CLASS A                 CLASS B                  Name of Places/s

         ZONE 1            0.12%                  0.20%                Mandaue & Lapulapu
         ZONE 2            0.35%                  0.40%                Other Places

NOTE:  The amount to be used in the computation of the FIRE INSURANCE is the loan amount approved or the appraised value of the building whichever is lower.

     Class "A" - Condo, Single Attached, Single detached, Duplex, Rowhouse up to 4 units only (all concrete)
     Class "B" - Rowhouse 5 units or more.

How to Compute Monthly Amortization:
Loanable Amount X corresponding factor (on how many years you want to pay) / 1,000

Sample Computation:
Loanable Amount is P 859,000.00 and you want to pay it for 25 years.

P 859,000.00 X 8.05227 = P 6,916,699.93 ⁄ 1,000 = P 6,916.70 per month  (excluding Insurances)
                                                     

How to compute NDI or Net Disposable Income: (Base on Monthly Amortization)
         Monthly Amortization = P 6,916.70 ÷ 40% = P 17,292.25/mo. (NDI)      
         NDI - means Total Income less Statutory Deductions