Pag-IBIG Fund
has financed 2,968 socialized homes for minimum-wage and low-income members in the first
three months of 2023, its
top executives said Tuesday (May 9).
Socialized home
loans make up 14% of
the 21,870 units financed
by the agency from January to March this year.
Meanwhile, the amount
of socialized home loans
represents 5%, or P1.26
billion out of the P27.57
billion home loans released by the agency for
the period.
“We always emphasize inclusivity as a
major pillar in the implementation of the Pambansang Pabahay para sa
Pilipino Housing or 4PH
Program. With the PagIBIG Affordable Housing
Program, we provide the
unserved and underserved sectors, particularly low-wage earners in our
country, the opportunity to
own a home. All these are
in line with the directive
of President Ferdinand R.
Marcos, Jr. to provide our
fellow Filipinos with better
and dignified lives,” said
Secretary Jose Rizalino L.
Acuzar, who leads the Department of Human Settlements and Urban Development (DHSUD) and
the 11-member Pag-IBIG
Fund Board of Trustees.
The Pag-IBIG
Fund’s Affordable Housing Program (AHP) is for
members from the low-income and minimum-wage
sectors who earn up to
P15,000 a month in the
National Capital Region
(NCR), and up to P12,000
per month outside the
NCR. Under the AHP, borrowers enjoy a subsidized
rate of 3% per annum
for home loans of up to
P580,000 for socialized
subdivision projects, and
up to P750,000 socialized
condominium projects.
Pag-IBIG Fund
Chief Executive Officer
Marilene C. Acosta said
that the AHP’s special
rate of 3% per annum – a
rate that the agency has
provided for low-income
members since May 2017
– remains the lowest in the
market. The loan program
also features a 100% loanto-value ratio allowing borrowers to enjoy equity-free
purchase of housing units.
“Our approach
to home financing has
always been comprehensive. We exert all efforts
to make our programs responsive to the needs of
our members. That is why
we have a special home
financing program for our
low-income members.
With the AHP, the monthly
payment for a socialized
housing unit is as low as
P2,445.30, which is lower than the cost of rent in
most parts of the country.
And, qualified borrowers
will never have to put out
cash for equity, truly making homeownership within their reach. That is the
Lingkod Pag-IBIG brand of
service,” Acosta said. END
