Hdmf - Pag-ibig Test

A Pag-ibig member with an updated Multi-Purpose Loan payment is eligible to apply for a Housing Loan. This means that if a member has made all the necessary payments for their Multi-Purpose Loan, they are still eligible to apply for a Housing Loan from Pag-ibig. Therefore, the correct answer is False.

The statement is true because a Certified True Copy of the Title can indeed be obtained from the Registry of Deeds. The Registry of Deeds is responsible for maintaining records of property ownership and transactions, including titles. A Certified True Copy is a legally recognized document that serves as proof of the authenticity and accuracy of the title. It can be requested from the Registry of Deeds to provide assurance and verification of the ownership of a property.

The maximum loan term for HDMF is 30 years. This means that borrowers can take up to 30 years to repay their loan in full.

HDMF stands for Home Development Mutual Fund.

The statement is true because the Statute of Frauds is a legal provision that specifically requires agreements for the sale of real estate to be in writing in order to be enforceable. This means that oral agreements for the sale of real estate would not hold up in court and would not be legally binding. The purpose of this provision is to prevent fraudulent claims and ensure that there is clear evidence of the agreement in writing.

Capital Gains Tax is a tax imposed on the profit made from the sale of an asset. In this case, the question states that the Capital Gains Tax is under the account of the Seller. This means that it is the responsibility of the seller to pay this tax. The buyer is not responsible for it. Therefore, the correct answer is True.

The correct answer is 3 Million. This suggests that the maximum loan amount provided by HDMF (Home Development Mutual Fund) is 3 Million.

The statement is incorrect. Transfer tax is typically the responsibility of the buyer, not the seller. Transfer tax is a fee or tax imposed by the government when a property or asset is transferred from one owner to another. It is usually based on the sale price or the assessed value of the property. The buyer is usually responsible for paying this tax as part of the closing costs when purchasing a property.

The correct answer is False because the HDMF Program, also known as the Home Development Mutual Fund Program, is specifically designed to provide financial assistance for the purchase, construction, improvement, or renovation of residential properties, not commercial establishments.

The correct answer is Deed of Conditional Sale. A Deed of Conditional Sale is a legal document that outlines the conditions under which a sale of property will take place. It specifies that the transfer of ownership will only occur once certain conditions, such as the payment of the full purchase price or the completion of certain obligations, are fulfilled. This is different from a Contract of Sale, which is a binding agreement to sell a property but does not transfer ownership until the conditions are met. The other options listed, Dacion En Pago and Deed of Sale with Mortgage, are different types of property transactions that involve specific legal arrangements.

The maximum loan entitlement of a Pag-ibig member paying P1,300.00 monthly contribution is 2.7 M. This means that based on their monthly contribution, they are eligible to borrow a maximum amount of 2.7 million pesos from Pag-ibig.

The authority to sell is not issued by the selling broker, but rather by the property owner. The selling broker acts as an intermediary between the property owner and potential buyers, but they do not have the authority to grant permission for the sale of the property. The property owner holds the ultimate authority to sell their property.

The penalty for late payment of monthly amortization is computed on a daily basis. This means that if a borrower fails to make their monthly payment on time, they will be charged a penalty for each day that the payment is late. This encourages borrowers to make their payments on time and discourages them from delaying their payments. By calculating the penalty on a daily basis, the lender ensures that borrowers are held accountable for any delays in payment.

The correct answer is 40%. This means that the maximum monthly amortization payment should not exceed 40% of the member's net disposable income. This ensures that the member's capacity to pay is limited and they are not burdened with excessive debt obligations. By setting a limit of 40%, it allows the member to have a reasonable amount of their income available for other expenses and financial obligations.

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A deed of sale is not necessarily executed upon full payment of equity. A deed of sale is a legal document that transfers the ownership of a property from the seller to the buyer. While it is common for a deed of sale to be executed after full payment of equity, it is not a requirement. In some cases, a deed of sale may be executed before full payment is made, with the buyer agreeing to pay the remaining balance over time. Therefore, the statement is false.

The correct answer is BIR because the Bureau of Internal Revenue (BIR) is responsible for determining and assessing the zonal value of properties for tax purposes. They have the authority to establish the fair market value of properties in a specific area, which is used as a basis for calculating property taxes. The BIR collects and maintains data on property values and regularly updates the zonal values to ensure fairness and accuracy in property taxation. Therefore, obtaining the zonal value of a property can be done through the BIR.

The correct answer is 100% because the HDMF Collateral Ratio refers to the percentage of the loan amount that can be covered by the collateral. In this case, the collateral is able to cover the entire loan amount of P400,000.00, which means the collateral ratio is 100%.

The marketing agreement is not necessarily between the buyer and seller. It can be between a company and an advertising agency, or between two companies collaborating on a marketing campaign. Therefore, the statement is false.

The correct answer is 7% because the HDMF Retention Fee for loans secured by a Contract to Sell, ranging from P500,000.00 to P1,000,000.00, is 7%. This fee is a percentage of the loan amount that is retained by the HDMF (Home Development Mutual Fund) as a form of security.

Assesor's Office

The correct answer is "Pagtutulungan sa Kinabukasan: Ikaw, Bangko Industriya at Gobyerno." This is the acronym for Pag-Ibig, which is a government agency in the Philippines that provides affordable housing and financing options for Filipinos. The acronym translates to "Cooperation for the Future: You, Industry Bank, and Government."