Pag-IBIG home loans reach record-high in 2023
Pag-IBIG Fund released a record-high of P126.04 billion in home loans to finance the housing units of 96,848 members in 2023, its top officials announced on February 8.
The amount of housing loans released in 2023 grew by P8.19 billion or seven percent compared to the P117.85 billion released last year. The amount was able to finance 96,848 housing units and now stood as the highest amount of home loans released by the agency in a single year.
“We are happy to report that Pag-IBIG Fund has posted the highest amount of home loans released during a single year in its 43-year history. This is very good news because as the amount of home loans we release increases, so does the number of Filipinos who now have homes of their own. This achievement is a testament to Pag-IBIG Fund’s unwavering commitment to help address the country’s housing backlog, in line with our efforts under the Pambansang Pabahay Para sa Pilipino or 4PH Program of the Marcos Administration,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and chairs the 11-member Pag-IBIG Fund Board of Trustees.
Acuzar further stated that out of the total housing units financed by the agency last year, 11,257 or 12 percent were socialized housing units which are now owned by members from the minimum-wage and low-income sectors.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, noted that the agency has maintained its low interest rates despite the strong demand for the agency’s home loans and amid prevailing high market rates.
“Our performance in 2023 is noteworthy because apart from releasing the highest amount of housing loans in our history, it was also during last year – July to be exact – that we further reduced our already low interest rates on our home loans to make it even more affordable,” Acosta stated.
“We expect to maintain the affordability of our home loans, especially since we have more funds to address the increasing demand for home financing from our members with the implementation of our new monthly savings rates this February. We assure our members that they can continue to rely on us to provide them the most affordable home loan in the market, so that they too can achieve their dream of homeownership. That is our pledge as Lingkod Pag-IBIG,” she added. (Pag-IBIG/PIA-Caraga)
