Housing czar Eduardo del Rosario as Pag-IBIG Fund’s Home Development Mutual Fund head has approved the promotional rates for housing loans for the remainder of 2020.
During Pag-IBIG’s board meeting last July 9, Del Rosario, the Department of Human Settlement and Urban Development chief, gave the green light on the proposal of the Pag-IBIG management to offer promotional rates for its members who will apply for housing loans under its end-user financing program from July to Dec. 29.
The fund is offering special low rates of 4.985 percent per annum under a one-year repricing period and 5.375 percent per annum under a three-year repricing period.
According to Del Rosario, these are their lowest-ever rates under its regular housing loan program and are available to members getting new home loans until the end of 2020 only.
“These further reduce the agency’s previous rates, already pegged at a low 5.375 percent per annum for the one-year repricing and 6.375 percent per annum for the three-year repricing period,” he said.
Meanwhile, the interest rates for its affordable housing program, available for low and minimum-wage earners, remain at its lowest with the subsidized home loan interest rate of three percent per annum.