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 Pag-IBIG 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% loan-to-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 asocialized 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.
