The Home Development Mutual Fund or Pag-IBIG fund announced on Friday, January 27 that the agency has financed a total of 18,657 homes for low-income and minimum-wage earners in 2022.
“I am happy to report that Pag-IBIG Fund continues to provide members from the low-income sector the means to own a home through the Pag-IBIG Affordable Housing Program” said Secretary Jose Rizalino L. Acuzar, who chairs the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.
According to the top executive of Pag-IBIG, this report reveals the agency’s strong commitment in promoting inclusive growth by continuing to provide Filipino workers from underserved sectors with affordable shelter financing.
“These are in line with the directives of President Ferdinand Marcos, Jr. in addressing the country’s housing backlog under the Pambansang Pabahay Para sa Pilipino Program,” the agency added.
Pag-IBIG’s data revealed that socialized homes represent 18% of the 105,212 homes financed by the agency for 2022.
Meanwhile, the aggregate amount released for socialized housing loans is 7% or P8.28 billion of the P117.85 billion released by the agency last year.
Pag-IBIG Fund’s Affordable Housing Program (AHP) is a special home financing program that caters to the needs of minimum-wage and low-income members earning not more than P15,000 per month within the National Capital Region (NCR) and those earning not more than P12,000 per month outside of NCR.
Under the AHP, Pag-IBIG Fund offers a subsidized rate of 3% per annum – the lowest rate available in the market today – for socialized home loans worth up to P580,000 and socialized condominium units worth up to P750,000.
The special subsidized rates have been made available by the agency for its members from the minimum-wage sector since 2012, with the current 3% rate made available in May 2017.
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