This is a requirement of the Home Development Mutual Fund to educate the borrowers and make them aware of their responsibilities as loan borrower: how much they can avail, when and where to pay and other requirements. It is also during the counseling sessions that applicants are required to fill-up Medical Questionnaire which is a requirement for Mortgage Redemption Insurance purposes.
Related Real Estate FAQs
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- Does Pag-Ibig allow the transfer of existing housing loan to Pag-Ibig?
- What are the requirements to qualify for a Pag-Ibig Housing Loan of the government?
- Does Pag-Ibig have any program for Overseas Filipino Workers (OFW)?
- As an OFW working abroad, can my wife be allowed to attend the Loan Counseling Sessions?