Pag-IBIG Fund
made home financing
even more affordable for
its members as the agency lowered the interest
rates on its housing loan,
top officials announced
Tuesday (July 18).
“We are keenly
aware of the need to provide affordable housing to
our members who dream
of having their own homes.
With Pag-IBIG Fund’s
strong performance and
robust fiscal standing, we
are happy to announce
that we have reduced the
interest rates on our housing loan, making homeownership even more
attainable for all Filipino
workers. This is in line with
the directive of President
Ferdinand Marcos, Jr.
to address the country’s
housing backlog and help
our fellow Filipinos gain
better and dignified lives
under the Pambansang
Pabahay para sa Pilipino Housing or 4PH Program,”said Secretary Jose
Rizalino L. Acuzar, who
heads the Department of
Human Settlements and
Urban Development (DHSUD) and the 11-member
Pag-IBIG Fund Board of
Trustees.
Under the new
rates, the Pag-IBIG Housing Loan now carries a
lower interest of 6.25 percent per annum under a
3-year repricing period
from the previous 6.375
percent. Interest rates for
the 5, 10, 15, 20, 25 and
30-year repricing periods
have also been reduced
to 6.5 percent from 6.625
percent, 7.125 percent
from 7.375 percent, 7.75
percent from 8.00 percent,
8.50 percent from 8.625
percent, 9.125 percent
from 9.375 percent and
9.75 percent from 10.00
percent, respectively. The
new rates came to effect
on July 01.
Meanwhile, the
agency’s home loan rate
under its 1-year repricing
period remains at 5.75
percent per annum, while
its special interest rate
for home loans of minimum-wage earners under its Affordable Housing
Program remains at 3 percent per annum, the lowest in the market.
According to
Pag-IBIG Fund Chief Executive Officer Marilene
C. Acosta, the agency
was able to reduce its
home loan rates due to its
strong fiscal standing, record-high collections and
high performing loans ratio.
“We at Pag-IBIG
Fund take to heart our responsibility to provide our
members with affordable
home financing. With our
performing loans ratio at
a high 92.53% and collections from both membership savings and loan payments at a record-high,
we are able to effectively
fund the high demand for
our home loans without
the need to borrow from
the market. As a result, we
were able to reduce the interest rates on our housing
loan, despite the upward
market trend. This is truly
Lingkod Pag-IBIG, Tapat
na Serbisyo Mula Puso,
at work,”Acosta added.
(END)
