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Manila Bulletin devider Philippines devider National devider Pag-IBIG sets record anew as home loans reach P76.94B in Jan to Aug, up 6%

Pag-IBIG sets record anew as home loans reach P76.94B in Jan to Aug, up 6%

Published Sep 16, 2023 03:10 am

Pag-IBIG Fund has released P76.94 billion in home loans in the last eight months, breaking its record on the highest home loan disbursement for any January to August period, agency officials announced on Friday (September 15).

“We are happy to report that Pag-IBIG Fund has once again set a record high in terms of home loan releases during the first eight months of the year. The sustained growth of our home loans mean that more and more Filipino workers are being helped by Pag-IBIG Fund to have homes they can call their own. This is one of our ways to heed the call of President Marcos to provide sustainable and inclusive housing for Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

Acuzar added that the amount of home loans released by the agency during the period is P4.23 billion or 6 percent higher compared to the P72.71 billion released during the same period in 2022, and financed 59,840 homes of Pag-IBIG Fund members.

He further noted that out of this total number, 7,450 or 12 percent are members from the minimum-wage and low-income sectors, who were able to secure a total of P3.15 billion in socialized home loans.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta noted that the agency expects to sustain its performance for the remainder of the year, mainly driven by the agency’s move to further lower its home loan rates last July.

“We thank our members for choosing and trusting the Pag-IBIG Housing Loan to help them achieve their dream of homeownership. We assure our borrowers that we shall do all that we can to maintain the low rates of their loans and keep their monthly payments affordable. This is because we at Pag-IBIG Fund highly value sustainability, so that our current borrowers can maintain their ability to pay their loans and allow even more members to avail of our home financing programs. With four months to go before we end the year, we are optimistic that we shall once again set a banner year in the home loan front, and thus empower more Filipinos to become homeowners,” Acosta said.

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