Pag-IBIG sets record anew as home loans reach ₱76.94B in Jan to Aug, up 6%

Metro Manila (CNN Philippines) — Pag-IBIG Fund has released ₱76.94 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 said.

“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,” said Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar, who also heads the Pag-IBIG Fund Board of Trustees.

“The sustained growth of our home loans means 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,” he added.

The housing czar also said the amount of home loans released by Pag-IBIG Fund during the period is ₱4.23 billion, or 6 percent higher compared to the ₱72.71 billion released during the same period in 2022.

Pag-IBIG Fund also financed 59,840 homes of members. 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 ₱3.15 billion in socialized home loans, Acuzar noted.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Marilene Acosta said 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,” she said.

“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,” she added.