A record P126.04 billion in home loans were released by Pag-Ibig Fund last year to finance the housing units of 96,848 members.
The amount was 7 percent higher than the P117.85 billion recorded in 2022. 鈥淲e are happy to report that Pag-Ibig Fund has posted the highest amount of home loans released during a single year in its 43-year history,鈥� said Jose Rizalino L. Acuzar, Department of Human Settlements and Urban Development secretary.
鈥淭his achievement is a testament to Pag-Ibig Fund鈥檚 unwavering commitment to help address the country鈥檚 housing backlog, in line with our efforts under the Pambansang Pabahay Para sa Pilipino or 4PH Program of the Marcos Administration,鈥� he added.
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Of the total housing units financed last year, 11,257 or 12 percent were socialized housing units now owned by minimum-wage and low-income members, the agency said.
According to Pag-Ibig chief executive officer Marilene Acosta, the agency has kept interest rates low despite strong demand for loans and high market rates.
鈥淲e expect to maintain the affordability of our home loans, especially since we have more funds to address the increasing demand for home financing from our members,鈥� Acosta said. 鈥�RUSSEL LORETO