Pag-IBIG Fund sets record-high housing loans through its housing financing program

A total of 105,212 members of the House Development Mutual Fund, also known as the Pag-IBIG Fund, were able to benefit from the fund’s house loan program for the year 2022. According to a news release issued on Thursday, Pag-IBIG offered a record-high PHP118 billion in home loans last year, a 21% increase, or PHP20.57 billion, over the PHP97.28 billion supplied in 2021. Pag-IBIG used the funds to finance the acquisition and building of 105,212 houses for its members, a rise of 11% from the 94,533 homes financed in 2021 and a new record high.

President Marcos’ Pambansang Pabahay para sa Pilipino Initiative promises to address the country’s housing requirements by constructing one million houses every year for the next six years. He stressed the need of providing shelter for families, especially disadvantaged residents and those who work but cannot afford adequate accommodation.

Meanwhile, Pag-IBIG Fund CEO Marilene Acosta stated that the number of housing units sponsored in 2022 marks the agency’s first time funding more than 100,000 housing units in a single year. According to Acosta, of the total number of housing units provided by the agency last year, 18,657 (or 18%) were socialized housing units available to members from the minimum-wage and low-income sectors.

Acosta guaranteed Pag-IBIG members that they will continue to receive the most affordable housing loan in the market for 2023, allowing them to achieve their dream of homeownership.

Related News
Follow Us