Pag-IBIG Fund released P129.73 billion in home loans in 2024

The Home Development Mutual Fund or Pag-IBIG Fund released nearly P130 billion to finance the purchase and construction of homes for thousands of its members in 2024.

In a statement Friday, Pag-IBIG Fund Chief Executive Officer Marilene Acosta said the construction and acquisition of 90,616 homes were financed through P129.73 billion in home loans released last year.

Acosta said the fund has assisted in financing socialized housing units, which included P20.17 billion in approved development loans to support the construction of nearly 18,000 4PH or Pambansang Pabahay Para sa Pilipino housing units, "thereby making homeownership even more attainable for low-income earners."

"In 2024, one in every 10 homes financed through Pag-IBIG was a socialized housing unit, helping 9,082 minimum-wage earners secure a home of their own," she said.

"We also approved funding for the construction of 17,791 4PH housing units, which will provide more Pag-IBIG members the opportunity to own a home. These are significant steps toward ensuring that Filipino workers, especially those with modest incomes, have access to decent and affordable housing," she added.

Under Pag-IBIG Fund's Housing Loan program, members can build their own homes, buy residential lots, purchase ready-to-occupy units, buy out existing home loans from banks, or acquire Pag-IBIG-acquired assets at discounted rates.

Members also have the option to buy brand-new homes under the 4PH Program, which offers subsidized interest rates.

"Pag-IBIG Fund has once again demonstrated its commitment to helping Filipino workers secure their own homes," said Secretary Jose Rizalino Acuzar, head of the Department of Human Settlements and Urban Development (DHSUD) and chairperson of the 11-member Pag-IBIG Fund Board of Trustees.

"Our achievements in home financing this past year underscore our unwavering pledge to make homeownership accessible and affordable for our members. As we gain momentum with the Pambansang Pabahay para sa Pilipino (4PH) Program, we continue to heed President Marcos's directive to provide stronger social protection and improve the lives of more Filipinos," said Acuzar.

Acosta, for her part, reaffirmed Pag-IBIG Fund's commitment to ensuring that members have access to affordable home financing under the friendliest terms, thereby giving them greater opportunities to secure their own homes.

"We are devoted to enabling every Filipino worker to save and achieve their dream of homeownership," she said, adding that, "Our members can trust that we will continue to provide the benefits they deserve, so that more of our fellow Filipinos can build better lives for their families." — VDV, GMA Integrated News