How To Cancel Pag-IBIG Housing Loan:

Are you in search of cancellation of mortgage Pag-IBIG? Pag-IBIG Housing Loan is an initiative by the Home Development Mutual Fund started to assist people who are looking to borrow money for housing needs. This loan can even be used for renovation of existing property or in building a new accommodation.

But this page is mainly designed for customers who are looking for how to cancel registration in Pag-IBIG and to attain the ultimate knowledge on how to proceed with it.

Now let’s move ahead to the main topic of this blog.

Method:- How to Cancel Pag-IBIG Online Registration Housing Loan

These are the steps on Pag-IBIG Housing Loan cancellation:-

1. First, make a request agreement to the Pag-IBIG firm, through letter of cancellation of Pag-IBIG Housing Loan stating the need to cancel the home loan. Also make sure to include the below details in the agreement:
   • Loan cancellation reason 
   • Membership ID on Housing Loan 
   • Original Amount of Loan
   • Loan Payment Number etc.
2. State a valid reason for cancellation of the housing loan and draft it along with the cancel agreement as it is one of the most crucial factors that is considered by the housing team of Pag-IBIG housing to process the request for cancellation. Provide a clear justification as it might maximize the chance of the request being accepted.
3. Next, ensure to clear any kind of Outstanding bills such as unpaid principal loan amount, late payment penalties, accrued interest, etc as it need to be settled before one submits the request for cancellation.
4. Consumers must attach proof of payment once the balance has been cleared in the request letter for the cancellation to be processed smoothly.
5. In the next step, you need to make a payment charged as the cancellation fee for canceling the Pag-IBIG housing loan. The fee amount relies on the loan amount level.
6. Further, submit the Pag-IBIG notice of cancellation along with the support document and then follow the Pag-IBIG prompted instructions. The consultant support team will look into the matter and will proceed with the request for Pag-IBIG Housing Loan cancellation.

Bottom Lines:

Thus we can sum up that the procedure for canceling a Pag-IBIG Housing Loan needs to be performed thoroughly to avoid rejection. Also note that on cancellation of Pag-IBIG, you might be charged with cancellation fee which will depend on the loan amount. So it is recommended to seek assistance from the financial consultant/ advisor/ real estate agent for an informed and smooth cancellation procedure.

Pag-IBIG Cancellation of contract: Frequently Asked Questions:

Alessia Tummino

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