The Department of Human Settlements and Urban Development (DHSUD) on Sunday welcomed the increase in the Pag-IBIG Fund housing loan ceiling to P10 million, saying the move will expand access to homeownership and boost economic activity under President Ferdinand Marcos Jr.'s Expanded Pambansang Pabahay para sa Pilipino (4PH) Program.
DHSUD Secretary Jose Ramon Aliling said the expanded financing program will allow more Filipinos, particularly middle-income earners, to purchase homes while helping absorb unsold condominium and residential inventory in Metro Manila and nearby growth areas.
"Dahil sa pagtaas ng loanable amount sa Pag-IBIG, patuloy nating pinalalawak ang saklaw ng Expanded 4PH Program upang mas marami pang Pilipino ang magkaroon ng pagkakataong makabili ng sariling bahay," Aliling said.
He added that stronger housing demand is expected to create ripple effects across industries linked to housing development, including construction, manufacturing, transport, retail, and furniture.
The DHSUD chief noted that the higher loan ceiling would help more workers and professionals secure homes closer to employment centers, transport hubs, and essential services, where property prices have risen significantly in recent years.
Aliling also urged property developers to support the government's affordability drive by offering more competitive housing packages for Pag-IBIG members.
"We should meet halfway — we increase the loanable amount, they lower their prices. We expect this move to sustain the vibrancy in the housing sector," he said.
Under the revised program, qualified Pag-IBIG members may now borrow up to P10 million, payable for as long as 30 years, subject to standard evaluation and capacity-to-pay requirements.
