MANILA – A week after being recognized by President Ferdinand R. Marcos Jr. in his second State of the Nation Address for its record high home loans in 2022, Pag-IBIG Fund has again set a new record in home loans released for the first half of 2023, the agency’s top officials announced.
Pag-IBIG Fund released PHP57.07 billion in home loans from January to June this year, an increase of PHP5.11 billion or 10 percent compared to the PHP51.96 billion released during the same period in 2022.
“Pag-IBIG Fund's performance in the first six months of 2023 in the home loan front now stands out as the best in our history. We are happy that the number of Filipino workers who were able to become homeowners through Pag-IBIG’s Housing Loan programs continues to grow,” Secretary Jose Rizalino Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees, said in a statement Monday.
“Inspired by President Marcos’ recognition of our efforts in his report to the people, we remain committed to his administration’s Pambansang Pabahay para sa Pilipino Housing or 4PH Program under the Bagong Pilipinas campaign in line with our united efforts of providing our fellow Filipinos access to decent, safe and affordable homes,” Acuzar said.
Acuzar said the amount of home loans released by the agency during the period enabled 44,414 members to acquire their own homes.
Of this total number, 5,748 or 13 percent are Pag-IBIG Fund members from the minimum wage and low-income sectors who are now homeowners after securing a total of PHP2.42 billion in socialized home loans, he added.
Pag-IBIG Fund chief executive officer Marilene Acosta attributed the continued growth in the agency’s home loan releases to its sustained affordability.
She expressed optimism that home loans will maintain its growth in the second half of the year, with Pag-IBIG Fund further reducing home loan rates earlier this month.
“We at Pag-IBIG Fund always strive to provide our members, the Filipino workers, the means to have their own homes through affordable shelter financing. And, with our collections strong and our performing loans ratio high, we were able to further reduce the interest rates on our home loans and make it even more affordable. That is why we are optimistic that the excellent performance of our home loans will keep its pace for the rest of the year. More affordable home loans translate to more Filipinos turning their dreams of owning a home a reality,” Acosta said. (PNA)
