Home loan releases of Pag-IBIG Fund in the last three quarters posted double-digit growth
and reached P83.31 billion – the highest ever amount released by the agency for any
January to September period, its top officials announced on Wednesday (October 12).
From January to September, the amount of home loans released by the agency increased
by 27%, or P17.83 billion compared to the P65.48 billion in home loans released for the
same period last year. The number of financed homes also grew 17% year-on-year to
74,708.
"Pag-IBIG Fund’s performance in the first nine months of 2022 now stands as the best in
our history. Higher loan releases and an increasing number of borrowers mean that more
and more Filipino workers are being helped by Pag-IBIG Fund to have their own homes. All
these are part of our efforts to achieve the goal of President Ferdinand R. Marcos, Jr. under
the Pambansang Pabahay Para sa Pilipino program, as we continue our pursuit
of providing each Filipino family an opportunity to own a home,” said Secretary Jose
Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban
Development and the 11-member Pag-IBIG Fund Board of Trustees.
Acuzar added that out of the total amount of home loans, P5.72 billion were released as
socialized home loans benefitting 13,131 Pag-IBIG Fund members belonging to the
minimum-wage and low-income sectors.
Meanwhile, Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta noted that the
record-high amount of home loans was further driven by a strong third quarter, with the
agency releasing a record-high P31.35 billion for the period alone. She added that at this
record-setting pace, the agency expects to again surpass P100 billion in home loans this
year.
“With our home loan releases amounting to P83.31 billion in the last nine months, we have
nearly surpassed the amount released for the entire year in 2019, which was one of our
best performing years. By the end of 2022, home loan releases may reach P110 billion,
surpassing yet again the P100 billion housing loan takeout level for a single year. We shall
do our best to achieve this, as this figure will translate to over 100,000 Filipino workers who
shall fulfill their dreams of homeownership. This is one of our many ways of delivering
Lingkod Pag-IBIG: Tapat na Serbisyo, Mula sa Puso to our members,” said Acosta.
Acosta added that the strong demand for the agency’s home loans can be attributed to its
interest rates which remain low despite the current market trend, high loan-to-appraised
value ratio, long repayment period and much-improved insurance terms.
