Pag-IBIG Fund released a record-high P27.57 billion in home loans in the first quarter of 2023, an increase of P3.36B or 14 percent from P24.21 billion in the same period in 2022, top executives said Monday.
“We are happy to report that we have started the year strong by posting a new record-high in home loan releases for the first three months of 2023. This means that more Filipino workers have been helped by Pag-IBIG Fund in acquiring their own homes. All these are part of our efforts under President Marcos’ Pambansang Pabahay para sa Pilipino Housing or 4PH Program to move forward in solving the housing backlog of our country,” 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.
Acuzar said the amount of home loans released by the agency in the first quarter enabled 21,870 members to acquire their own homes. He said of this number, 2,968 or 14 percent are Pag-IBIG Fund members from the minimum-wage and low-income sectors who were able to secure a total of P1.26 billion in socialized home loans.
Meanwhile, Pag-IBIG Fund chief executive Marilene Acosta said the agency’s performance at the start of the year showed that it had sustained the momentum of its record-high achievement in 2022, when it released P117.85 billion in home loans for the year and surpassed the P1-trillion level in total home loan releases since its inception.
“After coming off our best-performing year in 2022, we have yet again set another record-high in housing loan takeout for the first quarter of 2023. Our strong performance in the housing loan front is an indication of the trust of our members in our programs. More importantly, our record-high numbers reflect the increasing number of Filipino workers we have enabled to gain new or better homes. Our members can rest assured that we shall do our best to make our housing loan programs, as well as all our other services, continuously accessible so that they may fully enjoy their benefits as Pag-IBIG Fund members,” Acosta said.