The Pag-IBIG Fund released a record-high P126.04 billion in home loans to finance housing units for 96,848 members in 2023, its officials announced yesterday.

The amount was P8.19 billion, or 7 percent higher than the P117.85 billion released in 2022.

This financed 96,848 housing units and stands as the highest amount in home loans released by the agency in a single year.

“We are happy to report that Pag-IBIG Fund has posted the highest amount of home loans released during a single year in its 43-year history. This is very good news because as the amount of home loans we release increases, so does the number of Filipinos who now have homes of their own. This achievement is a testament to Pag-IBIG Fund’s unwavering commitment to help address the country’s housing backlog, in line with our efforts under the Pambansang Pabahay Para sa Pilipino or 4PH Program of the Marcos administration,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and chairs the 11-member Pag-IBIG Fund Board of Trustees.

Acuzar said of the total housing units financed by the agency last year, 11,257, or 12 percent, were socialized units that members in the minimum-wage and low-income sectors now own.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the agency had maintained its low interest rates despite the strong demand for home loans and amid the prevailing high market rates.

“Our performance in 2023 is noteworthy because apart from releasing the highest amount of housing loans in our history, it was also during last year — July to be exact — that we further reduced our already low-interest rates on our home loans to make it even more affordable,” Acosta said.

“We expect to maintain the affordability of our home loans, especially since we have more funds to address the increasing demand for home financing from our members with the implementation of our new monthly savings rates this February.  

“We assure our members that they can continue to rely on us to provide them with the most affordable home loans in the market so that they too can achieve their dream of homeownership. That is our pledge as Lingkod Pag-IBIG,” she added.