Pag-IBIG fund launches record P40.41B home loans in January

The Pag-IBIG Fund once again surpassed its own record by disbursing more than 40 billion pesos in home loans in the first five months of 2022, senior officials announced on Tuesday (June 28).

From January to May, the agency released home loans worth 40.41 billion pesos, the highest amount released in the first five months of any year in its history.

Compared to the same period last year, the amount disbursed so far this year has increased by 15% from the 35.28 billion pesos released during the same period in 2021.

“Pag-IBIG has once again set a record number of home loan releases to start the first five months of the year. We are pleased that the number of Filipino workers who can become homeowners through Pag-IBIG home loan programs continues to grow. Our consistent performance also indicates that the home lending policies we have in place have been effective, and we hope they will continue to provide even more working Filipinos with decent, affordable homes in safe, sustainable communities. and resilient,” said Secretary Eduardo. D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Meanwhile, Pag-IBIG Fund Managing Director Acmad Rizaldy P. Moti said the amount released in May financed the acquisition and construction of 36,865 homes for Pag-IBIG Fund members, or 5 % more than the 34,979 units financed during the same period last year.

He added that of the total number of homes funded, 6,787, or 18%, were social housing now owned by minimum-wage and low-income workers and their families.

“Last year, we surpassed the 100 billion peso level in home loans, a feat we previously thought impossible. This year, with our record home loan releases from January to May, we are optimistic that that the Pag-IBIG Fund is on track for another record year. If the current trend continues, we expect to release at least 105 billion pesos of housing loans by the end of the year. I am confident that our outstanding performance on the home lending front will be sustained, especially under the leadership of our Deputy Managing Director for Home Lending Marilene C. Acosta, who has been instrumental in our record home lending performance since 2017,” Moti said.

Garland K. Long