Government-run Home Development Mutual Fund (Pag-IBIG) is starting strong after releasing a record-high amount in home loans.
It’s top official announced the release of P27.57 billion in home loans during the first quarter of 2023, an increase of P3.36B or 14% compared to theP24.21 billion released during the same period in 2022.
According to Pag-IBIG, 21,870 members have benefited from the home loans allowing their members to acquire their own homes.
Fourteen percent of the members came from the minimum-wage and low-income sectors who were able to secure a total of P1.26 billion in socialized home loans.
“We are happy to report that we have started the year strong by posting a new record-high in home loan releases for the first three months of 2023.This means that more Filipino workers have been helped by Pag-IBIG Fund in acquiring their own homes. All these are part of our efforts under President Marcos’ Pambansang Pabahay para sa Pilipino Housing or 4PH Program to move forward in solving the housing backlog of our country,” Chief Executive Officer Marilene Acosta said in a statement.
This record-high performance shows that Pag-IBIG sustained the momentum of its record-high achievement in 2022, after they released a record-high P117.85 billion in home loans for the year and surpassed the one-trillion peso level in total home loan releases since its inception.
