According to the latest Overseas Filipino Workers report submitted by the Philippine Statistics Authority, there are around 1.77 million OFWs around the globe as of September 2020. A good part of this population is abroad to provide for their families here in the Philippines, save enough money to fund their future plans, and ultimately come home and retire.
To do that in peace though, they would have to start building or purchasing a home as early as they can, given the validity of their visas, contracts, and their age.
While the government offers housing loans for OFWs, the process to do this is NOT easy. There are at least eight documents that need to be submitted online, and this is apart from the proof of payment for the last 24 months of your Pag-IBIG contribution.
Once that’s done, you then have to make a physical appearance in any of their local branches… But how are you going to do that when you’re already abroad? It’s not like you can take a leave from work that easily or purchase a ticket for one day only.
This is why for OFWs, the best way to get a housing loan is through a mortgage broker like Nook. Not only are we going to take care of everything virtually, we will also ensure that you are updated on your housing loan processes from start to finish.
At Nook, we also provide our OFWs with options and advice on what to do in case they come across a potential blocker.
When you work with Nook, you are assured that you are offered some of the lowest interest rates in the market as well. This is because we have a direct relationship with the banks and have an established presence as a market leader in terms of mortgage brokerage here in the Philippines.
If you are an OFW, watch the video below to find out how we helped one of our OFW clients from Italy secure a housing loan here in the Philippines