Pag-IBIG home
loans reach P88.3B in Q3
as
demand continues to rise
Home loan releases of Pag-IBIG Fund
in the last three quarters
have grown to P88.30 billion as demand remains
strong, agency officials
announced Wednesday
(11 October).
The amount of
home loans released grew
by almost P5 billion or 6
per cent compared to the
P83.31 billion in home
loans released in the
same period last year. The
amount financed 68,211
housing units and now
stands as the highest released by the agency for
any January to September
period.
“Pag-IBIG Fund
remains at the forefront in
home financing as it accounts for nearly 40% of
the total home mortgages
in the country. This shows
that it continues to fulfill
its mandate, not only by
providing affordable home
financing to Filipino workers, but also by effectively
stimulating the housing industry. These are all in line
with the call of President
Ferdinand 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.
Out of the total
amount, Acuzar added
that P3.49 billion were
released as socialized
home loans for the benefit of 8,216 Pag-IBIG Fund
members belonging to
the minimum-wage and
low-income sectors.
Pag-IBIG Fund
Chief Executive Officer Marilene C. Acosta,
meanwhile, expects that
demand for the agency’s
home loans shall remain
high particularly during
the last quarter of the year
when the market’s behavior to secure home financing is at the highest.
“Our home loan
releases amounting to
P88.30 billion in the last
nine months alone have
already surpassed the annual releases since PagIBIG Fund’s inception up
to 2019. And, by the end of
the year, we are optimistic
that our home loan releases may even reach P130
billion,” she stated.
“We thank our
members for choosing the
Pag-IBIG Housing Loan
to achieve their dream of
owning a home. That is
why we shall do all that we
can to maintain our low interest rates so that we can
enable more Filipino workers become homeowners
under the most affordable
terms,” Acosta added. In
total, Pag-IBIG Fund has
already approved P111.35
billion in home loans from
January to September to
finance the acquisition of
83,063 housing units. This
includes P23.05 billion in
approved loans for 14,852
borrowers which are ready
for release upon their submission of post-approval
requirements. END
