Pag-IBIG Fund released P129.73 billion in home loans in 2024, the highest on record, helping 90,616 Filipino workers buy or build their own homes, the Fund said in a statement.
Pag-IBIG’s Housing Loan program allows members to build homes, purchase lots or ready-to-occupy units, refinance existing mortgages, or buy Pag-IBIG-acquired properties at discounted rates. Members can also purchase new homes through the Pambansang Pabahay Para sa Pilipino (4PH) Housing program.
Of the amount released last year, Pag-IBIG approved P20.17 billion in development loans to support the construction of nearly 18,000 housing units under the 4PH program, the agency said.
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, Pag-IBIG Fund Chief Executive Officer Marilene Acosta said.
In the same year, Pag-IBIG released P4.29 billion in socialized housing loans, the Fund said.
The socialized or affordable housing loan program of Pag-IBIG grants interest rate of as low as 3 percent to minimum wage earners, compared with 5.75 percent under the regular housing loan program, the fund’s website showed.
Under the 4PH program, the Department of Human Settlements and Urban Development provides up to 5 percent interest subsidy on the loan.
“Pag-IBIG Fund has once again demonstrated its commitment to helping Filipino workers secure their own homes,” said Secretary Jose Rizalino Acuzar, who heads the Department of Human Settlements and Urban Development. He also chairs 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.”
“We are devoted to enabling every Filipino worker to save and achieve their dream of homeownership,” Acosta said. “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.”
