More Filipino workers will have greater access to quality homes at more affordable prices as Pag-IBIG Fund expands its housing partnerships under President Ferdinand Marcos Jr.’s Expanded Pambansang Pabahay para sa Pilipino Program, with Filinvest Land Inc. joining its network of partner developers.
The partnership opens select Filinvest residential projects to Pag-IBIG Housing Loan financing, and allows qualified members to access preferential pricing and other benefits, further widening the housing choices available to Pag-IBIG members.
Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling, who is also the Pag-IBIG Fund Board of Trustees chairperson, said the partnership builds on gains already achieved under the Expanded 4PH Program as the government continues to work with the private sector to expand access to affordable housing.
“Under President Ferdinand Marcos Jr.’s Expanded 4PH Program, we have already made significant gains in bringing more affordable housing opportunities within reach of Filipino families, and we are building on this momentum,” Aliling said in a statement Sept. 22.
Aliling witnessed Pag-IBIG Fund chief executive officer Marilene Acosta and Filinvest Land president and CEO Tristan Las Marias sign a memorandum of understanding formalizing the partnership in Quezon City.
The signing was also witnessed by Pag-IBIG Fund deputy CEO Alexander Hilario Aguilar and FLI Residential Business head Mary Averose Valderrama.
Under the partnership, qualified Pag-IBIG Housing Loan borrowers may enjoy preferential pricing on select units in participating Pag-IBIG-accredited Filinvest projects.
Prospective homebuyers can also benefit from Pag-IBIG Fund’s increased housing loan limit of up to P10 million, the subsidized interest rate of three percent per annum for qualified socialized housing borrowers under the Expanded 4PH, and promotional rates of 4.5 percent per annum for loans up to P4.9 million, and 5.75 percent per annum for loans up to P10 million.
Las Marias said the agreement brings together Filinvest Land’s residential developments and Pag-IBIG Fund’s housing finance programs to provide qualified homebuyers with more options toward homeownership. ||
