Pag-Ibig house loans hit record-high P126B in 2023

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. “We 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,” said Jose Rizalino L. Acuzar, Department of Human Settlements and Urban Development secretary.

“This achievement is a testament to Pag-Ibig Fund’s unwavering commitment to help address the country’s housing backlog, in line with our efforts under the Pambansang Pabahay Para sa Pilipino or 4PH Program of the Marcos Administration,” he added.

READ: Pag-IBIG Fund posts record high P20.61B income in H1 2023, up 11%

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.

“We 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,” Acosta said. —RUSSEL LORETO