Pag-IBIG widens housing choices

More Filipino workers will gain access to Pag-IBIG housing loans for select Filinvest residential projects under a new partnership aimed at expanding affordable homeownership opportunities.

Pag-IBIG Fund and Filinvest Land Inc. signed a memorandum of understanding that will allow qualified members to use Pag-IBIG Housing Loan financing for participating Filinvest projects, with buyers also eligible for preferential pricing and other incentives.

Department of Human Settlements and Urban Development Secretary and Pag-IBIG Fund Board of Trustees chairperson Jose Ramon P. Aliling said the agreement builds on the government’s Expanded Pambansang Pabahay para sa Pilipino Program, or Expanded 4PH, by bringing more private developers into the housing initiative.

“Under President Ferdinand R. Marcos Jr.’s Expanded 4PH Program, we have already made significant gains in bringing more affordable housing opportunities within reach of Filipino families, and we are building on this momentum. By working more closely with the private sector and bringing more of the country’s leading developers into this shared effort, we can open even more opportunities for our people,” Aliling said.

Pag-IBIG Fund CEO Marilene C. Acosta and Filinvest Land president and CEO Tristan Las Marias signed the agreement in Quezon City, witnessed by Aliling, Pag-IBIG Fund deputy CEO Alexander Hilario G. Aguilar and FLI Residential Business head Mary Averose Valderrama.

Qualified Pag-IBIG Housing Loan borrowers may receive preferential pricing on select units in participating Pag-IBIG-accredited Filinvest projects.

Homebuyers may also avail themselves of Pag-IBIG Fund’s housing loan limit of up to P10 million. Qualified socialized housing borrowers under Expanded 4PH may access a subsidized interest rate of 3 percent per year, while promotional rates stand at 4.5 percent for loans of up to P4.9 million and 5.75 percent for loans above P4.9 million up to P10 million.

Las Marias said the partnership combines Filinvest Land’s residential projects with Pag-IBIG Fund’s housing finance programs to give qualified buyers more options.

“Our partnership with Pag-IBIG Fund allows us to help more Filipino families move closer to owning a home by giving qualified buyers access to financing options and incentives across select Filinvest Land developments,” Las Marias said.

The agreement will also support home-matching activities, housing fairs, property exhibits and information drives. Pag-IBIG Fund will provide housing loan orientations and assistance, while Filinvest Land will identify participating projects and available units, subject to program guidelines.

Acosta said the partnership would give members more housing options while pairing them with Pag-IBIG’s financing programs.

“With Filinvest Land as our partner, we can bring together affordable Pag-IBIG financing and quality homes at better prices for our members,” Acosta said.

The partnership follows recent agreements between Pag-IBIG Fund and SM Development Corp., as well as Ayala Land residential brands Avida Land and Amaia Land, as the agency expands private-sector participation in the Expanded 4PH Program.