Pag-IBIG home loan releases hit record-high

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    Pag-IBIG Fund home loan releases hit a record-high in December as disbursement reached P12.11 billion despite the economic downturn caused by the new coronavirus disease 2019 pandemic.

    The Fund said in a statement this is P640million or 6 percent higher than the previous record of P11.47 billion recorded in December 2019.

    The Fund was able to finance the acquisition of 12,275 homes for members in December alone, which is also a record-high.

    In 2020, Pag-IBIG Fund released P63.75 billion in home loans allowing 63,750members to acquire their own homes.

    Out of the total amount, 11 percent or P7.1 billion were released as socialized home loans for the benefit of 16,975 Pag-IBIG Fund members who belong to the minimum-wage and low-income sectors.