State shelter financing agency Pag-IBIG Fund has announced bigger housing loan incentives under the government’s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program, doubling the validity of its subsidized three-percent interest rate from five years to 10 years for the first 30,000 qualified borrowers.

The measure, approved by the Pag-IBIG Fund Board of Trustees, chaired by Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling, is expected to ease amortization payments for early applicants and drive housing demand in support of President Ferdinand Marcos Jr.’s national housing agenda.

“This means they will enjoy the three percent rate, already much lower than prevailing market rates, for a full decade, making homeownership even more affordable,” Secretary Aliling said, noting that the extension effectively doubles the stability period for monthly payments.

Maiden home owner

Eligible borrowers include first-time homebuyers earning up to P47,856 a month in Metro Manila and up to P34,686 in areas outside NCR, as well as all overseas Filipino workers regardless of income level.

Under the program, borrowers may purchase socialized house-and-lot packages priced up to P850,000 or condominium units worth up to P1.8 million. Financing also covers up to P100,000 in home improvements, with a 100 percent loan-to-value ratio, requiring no cash equity.

Pag-IBIG Fund chief executive officer Marilene Acosta highlighted the financial relief provided by the extended fixed rate.

“As we carry out our mandate to uplift the lives of our members and support the Marcos administration’s housing thrust, this program offers more than just homes; it offers hope. With significantly lower monthly payments for a longer period, more Filipino workers can now achieve their dream of owning a home,” Acosta said.

“For our members who are seeking to buy homes, now is the best time to apply for a Pag-IBIG Housing Loan under the Expanded 4PH Program.

With our special three percent rate fixed for the initial 10 years for the first 30,000 borrowers, we are empowering more Filipino workers, private sector employees, government workers, uniformed personnel, OFWs, self-employed individuals, and especially those with modest incomes, to gain greater access to decent and affordable housing, helping them build better lives.”