4PH borrowers to benefit from program subsidies — DHSUD, Pag-IBIG Fund execs

The Pambansang Pabahay Para sa Pilipino Housing (4PH) program, the government’s flagship housing project, provides affordably-priced homes and lower monthly amortization costs through various subsidies for Filipino workers who are members of Pag-IBIG Fund, the Department of Human Settlements and Urban Development (DHSUD) together with Pag-IBIG Fund executives announced last 1 May, Labor Day.

“Our housing agenda aims to ensure that all Filipino workers have the means to accessible and affordable housing opportunities. Through the subsidies extended to beneficiaries of the 4PH program, prices of homes and monthly amortization costs will be significantly reduced. This is in line with President Marcos’ Philippine Development Plan 2023-2028 to address the country’s housing needs.,” said Secretary Jose Rizalino L. Acuzar, who leads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Subsidies on price and interest

The housing czar said that housing units to be sold under the Pambansang Pabahay (4PH) program will be more economically priced than other residential units in the market in keeping with the price ceiling imposed by the government for affordable housing.

Housing loan borrowers who will avail of units under the Pambansang Pabahay (4PH) program through a Pag-IBIG Housing Loan will enjoy an even lower interest rate than what Pag-IBIG Fund currently provides, which is already considered the lowest in the market. DHSUD will subsidize up to 5% of the loan's outstanding interest rate, allowing borrowers to pay a reduced interest rate on their loans. This will ensure that Filipino workers can now fulfill their homeownership dreams, especially those with limited financial resources.

Focus on sustainability and communal spaces

The Pambansang Pabahay (4PH) program also showcases green features, providing communal open spaces and gardens, as well as amenities such as swimming pools and basketball court ensuring that residents will have comfortable and improved living conditions.

Acuzar emphasized that future homeowners of the Pambansang Pabahay housing units will experience a well-designed and self-sufficient community through a township model. This framework allows residents to live within cities with access to commercial spaces, educational institutions, healthcare centers, and other essential infrastructure.

“Interested Filipino workers can easily avail of the Pambansang Pabahay (4PH) program through their Pag-IBIG Fund membership by applying for a special Pag-IBIG housing loan under 4PH, and by coordinating with their local government housing board so that they may be listed under the 4PH program’s pre-identified applicants. *Our work to address the housing backlog is truly a coordinated effort by the national government, the local government units, the housing sector, private developers, and the community,” Acuzar added.

Pag-IBIG membership as key to homeownership

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta expressed full support for the program and invited its members to take advantage of the Pambansang Pabahay (4PH) program’s benefits.

“Pag-IBIG Fund fully supports the DHSUD in its proactive approach to addressing housing affordability challenges by helping both property developers and buyers. Our 4PH-Direct Developmental Loans provide the program proponents and property developers with financial means to develop housing projects and affordable yet quality housing units for Filipino workers. Interested buyers, on the other hand, can avail of the Pag-IBIG Pambansang Pabahay (4PH) Housing Loan and enjoy interest and amortization subsidies and borrower-friendly loan terms, assuring them of affordable monthly payments within their budget. *For the program to be sustainable, it is vital for our buyer-beneficiaries to pay their amortizations and real property taxes on time, as well maintain the upkeep of the township. As aptly stated by Sec. Acuzar, the communities play a key role in solving the housing backlog,” Acosta said.