BUSINESS
Pag-IBIG sets new record with P77-B home loans
Home loans released by the agency during the period is P4.23 billion or 6 percent higher compared to the P72.71 billion released during the same period in 2022.
State shelter fund Pag-IBIG Fund has released P76.94 billion in home loans in the last eight months, breaking its record on the highest home loan disbursement for any January to August period, agency officials announced on Friday.
"We are happy to report that Pag-IBIG Fund has once again set a record high in terms of home loan releases during the first eight months of the year. The sustained growth of our home loans mean that more and more Filipino workers are being helped by Pag-IBIG Fund to have homes they can call their own. This is one of our ways to heed the call of President Marcos to provide sustainable and inclusive housing for Filipinos," said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.
Home loans up 6%
Acuzar added that the amount of home loans released by the agency during the period is P4.23 billion or 6 percent higher compared to the P72.71 billion released during the same period in 2022, and financed 59,840 homes of Pag-IBIG Fund members. He further noted that out of this total number, 7,450 or 12 percent are members from the minimum-wage and low-income sectors, who were able to secure a total of P3.15 billion in socialized home loans.
Meanwhile, Pag-IBIG Fund chief executive officer Marilene C. Acosta noted that the agency expects to sustain its performance for the remainder of the year, mainly driven by the agency's move to further lower its home loan rates last July.