Pag-IBIG releases highest home loans at P88B

MANILA, Philippines — The Pag-IBIG Fund announced on Tuesday that it disbursed a total of P88 billion in home loans from January to September in 2024, considered the “highest” in its history

For January to August this year alone, Pag-IBIG Fund Chief Executive Officer Marilene Acosta said the amount reflected an increase of P383-million compared to the P76.9 billion released during the same period last year.

She told the “Bagong Pilipinas Ngayon” interview on PTV-4 that almost 55,000 members have availed of the loans that made up the disbursed funds.

The disbursement surpasses the figures in the same period from previous years and underscores the Fund’s growing role in supporting the homeownership aspirations of Filipino workers, Acosta said.

The increase in home loans could be attributed to the quick schemes employed by the agency which attracted its members to avail of the benefits.

“At Pag-IBIG, it’s easier to avail [of] housing loans, which could be done online, among others,” Acosta said.

Moreover, she said the interest loan has been pegged at three percent for the socialized housing package for minimum-wage earners and loan term of up to 30 years.

She reiterated the Fund’s continuous growth to the sustained affordability and reliability of the agency’s housing loan programs for its members.

“Pag-IBIG Fund has been a dependable partner for Filipino workers in fulfilling their dreams of homeownership through affordable shelter financing,” the official said.

“We are grateful to our members for their continued support of our programs. We also recognize their consistent and timely loan payments, which enabled us to uphold strong collections and high performing loans ratio,” she added.

The Pag-IBIG official encouraged the members, especially those who are contemplating on purchasing their own home that “it is now the best time to avail of a Pag-IBIG Housing Loan.”

“Our interest rates remain low, and our loan terms continue to be affordable and borrower friendly,” she said.

With the strong fiscal performance, Pag-IBIG is more than capable of providing shelter financing for the future member-borrowers to help them pursue a secured future for their family through home ownership.

Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar said that the continued growth of Pag-IBIG Fund’s home loan releases meant that more Filipino workers were able to fulfill their dreams of homeownership.

“This is a step consistent with the government’s efforts to resolve the housing backlog and provide a better quality of life for Filipinos,” said Acuzar who also heads the 11-member Pag-IBIG Fund Board of Trustees.