Socialized housing loans released by Pag-IBIG Fund in 2021 rose 37 percent to P9.71 billion from P7.1 billion released in 2020.
The number of socialized homes financed went up 30 percent to 22,028 compared with the 16,975 socialized units funded in 2020.
“As the pandemic subsists, Pag-IBIG Fund’s Affordable Housing Program (AHP) continues to help more low-income workers secure homes of their own. For 2021, we have released more funds so that more of our low-wage members have a safe place of their own,” said Secretary Eduardo del Rosario, chairman of Pag-IBIG Fund Board of Trustees.
AHP is a special home financing program that caters to the needs of minimum-wage and low-income members who earn up to P15,000 a month in the National Capital Region (NCR) and members who earn up to P12,000 per month outside the NCR. Under the AHP, home loans worth up to P580,000 come with a subsidized rate of 3 percent per annum, still the most affordable rate in the market today.
Acmad Rizaldy Moti, Pag-IBIG Fund chief executive officer, said socialized units make up 23 percent of the 94,533 total homes funded by the agency in 2021 while socialized home loans comprised 10 percent of the P97.28 billion in home loans released last year.
