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Pag-IBIG Fund achieves new milestone with P76.94B in home loans disbursed

MANILA, (PIA) -- Pag-IBIG Fund, the Philippines' premier housing finance institution, proudly announces a historic achievement as it breaks its own record for the highest home loan disbursement during the first eight months of the year. 

Agency officials revealed that Pag-IBIG Fund disbursed an impressive P76.94 billion in home loans from January to August, marking a remarkable 6 percent increase over the same period in the previous year.

This outstanding accomplishment demonstrates Pag-IBIG Fund's unwavering commitment to providing affordable and accessible housing solutions to Filipino workers. 

The agency's efforts align with the national goal of sustainable and inclusive housing for all, as underscored by Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and leads the 11-member Pag-IBIG Fund Board of Trustees.

Secretary Acuzar said, "We are happy to report that Pag-IBIG Fund has once again set a record high in terms of home loan releases during the first eight months of the year. The sustained growth of our home loans means that more and more Filipino workers are being helped by Pag-IBIG Fund to have homes they can call their own."

"This is one of our ways to heed the call of President Marcos to provide sustainable and inclusive housing for Filipinos," he added.

The P76.94 billion disbursed during this period is a significant increase of P4.23 billion compared to the P72.71 billion released during the same period in 2022. These funds have supported the construction of 59,840 homes for Pag-IBIG Fund members. Notably, 7,450 of these homes, representing 12 percent of the total, were secured by members from the minimum-wage and low-income sectors who received a total of P3.15 billion in socialized home loans.

For her part, Marilene C. Acosta, the Chief Executive Officer of Pag-IBIG Fund, expressed her optimism about the agency's continued success for the remainder of the year. 

She emphasized that the agency's decision to lower home loan rates in July has played a pivotal role in sustaining this remarkable performance.

Acosta said, "We thank our members for choosing and trusting the Pag-IBIG Housing Loan to help them achieve their dream of homeownership. We assure our borrowers that we shall do all that we can to maintain the low rates of their loans and keep their monthly payments affordable."

"This is because we at Pag-IBIG Fund highly value sustainability, so that our current borrowers can maintain their ability to pay their loans and allow even more members to avail of our home financing programs. With four months to go before we end the year, we are optimistic that we shall once again set a banner year in the home loan front, and thus empower more Filipinos to become homeowners," she added.

Pag-IBIG Fund remains dedicated to making homeownership a reality for countless Filipinos and contributing to the nation's housing development goals. (PIA-NCR)

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