‘This is like hitting many birds with one stone. It will stimulate economic activity in the housing and real estate sector, help address the housing backlog without burdening the national budget, boost developers’ sales and give homebuyers more financing options.’
DUAL gains Homebuyers and private developers benefit from Pag-IBIG Fund’s lower housing loan rates and higher loan ceiling, DHSUD Secretary Jose Ramon Aliling said.
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Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling on Tuesday said Pag-IBIG Fund’s lower housing loan rates and higher loan ceiling would benefit both homebuyers and private developers while boosting the country’s housing sector.
“This is like hitting many birds with one stone. It will stimulate economic activity in the housing and real estate sector, help address the housing backlog without burdening the national budget, boost developers’ sales, and give homebuyers more financing options,” Aliling said.
“It’s a win-win situation,” he added.
Pag-IBIG recently reduced interest rates for economic housing loans to as low as 4.5 percent and increased its maximum loan ceiling to P10 million. The 3-percent rate for socialized housing under the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program remains in place.
The Fund also eased loan qualification rules by allowing up to three borrowers to combine their incomes under a single housing loan and has begun investing in reputable construction firms to expand the supply of socialized housing.
Aliling said the reforms support President Ferdinand Marcos Jr.’s directive to make homeownership more accessible to Filipinos across all income groups.
“President Marcos has directed us to expand the 4PH program so that more Filipino families can achieve their dream of owning a safe, decent, and affordable home,” he said.
He added that the Pag-IBIG initiatives are a “game-changer” for the housing sector and would help sustain the Expanded 4PH Program without relying heavily on government funds.
