Pag-IBIG Fund continues to make homeownership more affordable for Filipino workers under President Ferdinand Marcos Jr.’s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program by maintaining low housing loan rates amid a lending environment expected to push commercial borrowing costs higher.
The agency emphasized Sept. 2 its commitment to keep homeownership within reach through a subsidized three percent rate for qualified socialized housing borrowers, special promotional rates and a higher P10-million housing loan limit.
Pag-IBIG is also expanding partnerships with more of the country’s leading residential developers to offer members more suitable homes. Together, these measures assure members that affordable financing remains available as they continue pursuing their plans to buy a home.
Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling, who also chairs the Pag-IBIG Board of Trustees, said these measures give Filipino workers a practical and affordable way to continue pursuing homeownership even if commercial loans become more expensive.
“With commercial housing loans expected to become more expensive, the Pag-IBIG Housing Loan becomes all the more important in helping Filipino workers continue with their plans to own a home. Our members can always rely on Pag-IBIG for affordable financing. With our low rates and housing loans of up to P10 million, they can choose a home that suits their family, fits their budget and can be paid for affordably over time,” Aliling said.
“And that is what President Marcos has directed us to accomplish under the Expanded 4PH. To ensure that every Filipino worker has a fair chance to own a home through financing that remains affordable and within reach,” he added.
Aliling’s assurance stems from Pag-IBIG Fund’s continuing efforts to keep home financing affordable under the Expanded 4PH. Qualified socialized housing borrowers may avail themselves of the subsidized rate of three percent, while members purchasing homes above the socialized housing ceiling may qualify for the promotional rate of 4.5 percent on loans of up to P4.9 million, or 5.75 percent on loans above P4.9 million and up to P10 million.
By enabling more members to continue with their plans to buy a home, these affordable financing options also sustain genuine homebuyer demand and help stimulate activity across the housing industry.
Pag-IBIG Fund chief executive officer Marilene Acosta, meanwhile, said the agency builds on this homebuyer demand through a comprehensive approach that combines affordable financing with partnerships with leading residential developers. This widens members’ housing choices and gives developers access to a broader market of qualified buyers.
“When Filipino workers have access to affordable financing, developers gain a stronger market for the homes they build. By partnering with more of the country’s leading residential developers, we help sustain this demand while giving our members more homes to choose from, so they can find one that suits their family and fits their budget,” Acosta said. ||
