Pag-IBIG releases P88B in home loans from January to September 2024

The Home Development Mutual Fund (HDMF), or Pag-IBIG Fund, released about P88 billion in home loans in the first nine months of the year, the state-run firm reported Tuesday.

Pag-IBIG said almost 55,000 members availed of its housing loans due to low interest rates.

"'Yung housing loan ng Pag-IBIG Fund, mababa 'yung interest rate, mahaba 'yung loan term—30 years 'yan. Tsaka madali na lang mag-loan, pwede ka na mag-loan online," said Pag-IBIG Chief Executive Officer Marilene Acosta in the Bagong Pilipinas Ngayon news forum.

(Pag-IBIG Fund offers a low interest rate and a longer loan term of up to 30 years. It's also now easy to apply for loans. You can do it online.)

"Kapag nakautang ka na, siyempre kailangan magbayad, marami na rin kaming online collection facilities," adding that members can loan up to P6 million depending on their capacity to pay.

(Once you applied for a loan, you can pay them through various online collection facilities.)

It now offers an interest rate of 6.25% for a three-year fixing period from the previous 6.375%.

Further, the agency added it also offers affordable home loans to minimum wage earners, which is also payable up to 30 years.

"The interest rate is 3% provided ang bibilhin ng ating Pag-IBIG member ay socialized housing package," said Acosta.

(The interest rate is 3% provided that the Pag-IBIG member availed a socialized housing package.)

Pag-IBIG earlier said that it released P77.30 billion in home loans until August of this year. — Vince Angelo Ferreras/ VDV, GMA Integrated News