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.
