Pag-IBIG Fund released P24 billion in home loans in the first quarter, a record for any quarter.
This also represented an increase of P3.26 billion or 16 percent from the P20.94 billion released during the same quarter in 2021.
“Our strong start this year means more Filipino workers have been helped by Pag-IBIG Fund in acquiring their own homes. The sustained growth in our home loan disbursements also contributes to the economy, as we continue to help our members and the country recover from the pandemic,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.
Del Rosario said the amount of home loans released by the agency during the first quarter enabled 22,210 members to acquire their own homes, a 7 percent increase from the 20,712 members helped during the same period in 2021.
He added of the total amount, P1.78 billion were released as socialized home loans benefitting 4,114 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors.
Acmad Rizaldy Moti, Pag-IBIG Fund chief executive officer, said this first quarter record follows last year’s sterling performance when the agency surpassed P100 billion in home loan releases.
“Our performance in the housing loan front is an indication of the trust of our members in our programs. More importantly, our record-high numbers show the increasing number of Filipino workers we have enabled to have homes of their own. We aim to keep our loan interest rates low and help more Filipinos become homeowners,” said Moti.
Last year’s home loan releases represented a 58 percent compared to the P63.75 billion released in 2020 and has surpassed by 16% the P86.74 billion released in 2019, the agency’s previous record-high.
