Pag-IBIG Fund financed 18,657 homes for low-income and minimum-
wage earners in 2022, its top officials announced Friday (January 27).
Socialized homes represent 18% of the 105,212 homes financed by the
agency for 2022. The aggregate amount released for socialized housing
loans, meanwhile, is 7% or P8.28 billion of the P117.85 billion released by
the agency last year.
“I am happy to report that Pag-IBIG Fund continues to provide members
from the low-income sector the means to own a home through the Pag-IBIG
Affordable Housing Program. This shows its strong commitment in
promoting inclusive growth by continuing to provide Filipino workers from
underserved sectors with affordable shelter financing. All these are in line
with the directives of President Ferdinand Marcos, Jr. in addressing the
country’s housing backlog under the Pambansang Pabahay Para sa Pilipino
Program,” said Secretary Jose Rizalino L. Acuzar, who chairs the
Department of Human Settlements and Urban Development (DHSUD) and
the 11-member Pag-IBIG Fund Board of Trustees.
Pag-IBIG Fund’s Affordable Housing Program (AHP) is a special home financing program that caters to the needs of minimum-wage and low- income members earning not more than P15,000 per month within the National Capital Region (NCR) and those earning not more than P12,000 per month outside of NCR. Under the AHP, Pag-IBIG Fund offers a
subsidized rate of 3% per annum – the lowest rate available in the market
today – for socialized home loans worth up to P580,000 and socialized
condominium units worth up to P750,000.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile,
said that special subsidized rates have been made available by the agency
for its members from the minimum-wage sector since 2012, with the
current 3% rate made available in May 2017.
“Through the years, the Pag-IBIG Affordable Housing Program has made it
possible for low-income and minimum-wage earners to own a home. With
the lowest rate offered in the market, our members can enjoy a low monthly
payment of as low as P2,445.30 for a socialized home loan of P580,000
with a loan term of 30 years,” said Acosta. “And what’s more, borrowers
under our AHP do not have to put out cash for equity because of its 100%
loan-to-value ratio. This is in keeping of our commitment to uplift the lives of
Filipino workers, especially those from the underserved sectors, through
accessible and affordable shelter financing. Ito po ang aming panatang
Lingkod Pag-IBIG para sa manggagawang Pilipino,” Acosta added.
