Pag-IBIG Fund said home releases will likely reach P100 billion by the end of the year following a record high amount released as of September.
The Fund said in a statement home loan releases reached P65.48 billion as of September, the highest amount released in any nine-month period.
This is 80 percent higher than the P36.43 billion released during the same period in 2020 and is 11.5 percent higher than the P58.73 billion released in the same period in 2019, which is the Fund’s best performing year.
“We have one more quarter left before 2021 ends and judging by our home loan releases in the previous three quarters, I am confident of achieving another banner year. So far, our average monthly home loan releases hovers around P7 billion. It even peaked at over P9 billion in June. In the third quarter alone, our home loan releases amounted to P21.14 billion. If this trend holds, home loan releases by the end of the year,” said Acmad Rizaldy Moti, Pag-IBIG Fund chief executive officer.
Moti said the amount released as of September financed the acquisition of 77 percent more homes this year – totaling so far to 63,765 units for its members.
