The PHP250 billion given by the Home Development Mutual Fund (Pag-IBIG Fund), according to Department…
Over 100,000 members benefit from the Pag-IBIG housing financing program.
The Pag-IBIG Fund’s home loan program was made available to 105,212 members in total for the 2022 calendar year.
According to a press release published by Pag-IBIG on Thursday, they released a record-breaking PHP118 billion in house loans last year. This is an increase of 21%, or PHP20.57 billion, over the PHP97.28 billion in loans they released in 2021.
With this sum, Pag-IBIG reached a new record high by financing the purchase and construction of 105,212 homes for its members, an increase of 11% over the 94,533 dwellings sponsored in 2021.
“This is very good news,” said Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar, who is also the chairman of the 11-member Pag-IBIG Fund Board of Trustees. “As the amount of home loans we release increases, so does the number of Filipinos who now have homes of their own.”
In keeping with the goal of President Ferdinand R. Marcos Jr. under the Pambansang Pabahay Para sa Pilipino Program, he added, “Pag-IBIG Fund’s performance is a testimonial to our united and unrelenting efforts to resolve the country’s housing backlog.”
One of Marcos’s signature initiatives, the Pambansang Pabahay Para sa Pilipino Program, aims to ease the housing shortage in the nation by constructing 1 million homes annually for the following six years.
In a previous statement, Marcos emphasized the necessity to shelter families, particularly the city’s poorest citizens and working-class residents who struggle to find suitable homes.
As for the number of housing units sponsored in 2022, Pag-IBIG Fund Chief Executive Officer Marilene Acosta remarked that it will be the first time the organization finances more than 100,000 housing units in a calendar year.
Acosta continued by stating that 18,657, or 18%, of the total number of housing units funded by the agency in the previous year, were socialized housing units used by members of the minimum wage and low-income sectors.
“At Pag-IBIG Fund, we’ve always worked to give our members, who are Filipino-American workers, the tools to buy their own houses through accessible housing financing. In order to empower even more Filipinos to own their own houses, we take great delight in setting a record high for the number of housing units financed in 2022, she said.
Acosta promised Pag-IBIG members that they would continue to receive the most affordable home loans available so that they, too, could fulfill their dream of becoming homeowners in 2023.
Cebuano English Filipino
We appreciate your reading. You may also consider sharing it with others.
Please comment below if you found this post interesting.
Be one of our DONOR / SPONSOR to support NextGenDay news website.