Pag-IBIG Fund set a new record in home loans released in the first half of 2023, a week after being recognized by President Ferdinand Marcos Jr. in his second State of the Nation Address, the agency’s top officials said Monday.
Pag-IBIG Fund released P57.07 billion in home loans from January to June this year, an increase of P5.11 billion or 10 percent from P51.96 billion in the same period in 2022.
“Pag-IBIG Fund’s performance in the first six months of 2023 in the home loan front now stands out as the best in our history. We are happy that the number of Filipino workers who were able to become homeowners through Pag-IBIG’s Housing Loan programs continues to grow,” said Secretary Jose Rizalino Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund board of trustees.
“Inspired by President Marcos’s recognition of our efforts in his report to the people, we remain committed to his administration’s Pambansang Pabahay para sa Pilipino Housing or 4PH Program under the Bagong Pilipinas Campaign, in line with our united efforts of providing our fellow Filipinos access to decent, safe and affordable homes,” said Acuzar.
Acuzar said the amount of home loans released in the first six months enabled 44,414 members to acquire their own homes. He said of the total, 5,748 or 13 percent are Pag-IBIG Fund members from the minimum-wage and low-income sectors who are now homeowners after securing a total of P2.42 billion in socialized home loans.
Pag-IBIG Fund chief executive Marilene Acosta attributed the continued growth in the agency’s home loan releases to its sustained affordability. She expressed optimism that home loans would maintain its growth in the second half of the year, with the Fund further reducing home loan rates earlier this month.
“We at Pag-IBIG Fund always strive to provide our members, the Filipino workers, the means to have their own homes through affordable shelter financing. And, with our collections strong and our performing loans ratio high, we were able to further reduce the interest rates on our home loans and make it even more affordable,” Acosta said.
“That is why we are optimistic that the excellent performance of our home loans will keep its pace for the rest of the year. More affordable home loans translate to more Filipinos turning their dreams of owning a home a reality,” Acosta said.