Filipino workers, especially those with low income levels, can benefit from accessible and affordable housing thanks to significant steps taken in this direction, confirmed the head of Pag-IBIG Fund. She affirmed that the agency is obligated to ensure members have access to financing for the purchase of homes under the most favorable conditions, thereby providing them with a greater opportunity to secure their own housing.
Through the Pag-IBIG Fund housing loan program, members can build their own homes, purchase lots, acquire ready-to-occupy housing projects, buy existing housing loans from banks or acquire properties at lower rates. In this area, the emphasized President Marcos directives on providing greater social protection and improving the lives of more Filipinos.
The General Director of Pag-IBIG Fund Malayen Acosta emphasized that among the agency's plans for 2024 is the inclusion of financing for housing in the social sectors, as well as an increase in approved loans for development totaling PHP 20.17 billion to support the construction of nearly 18,000 housing units under the 4PH program, making access to homeownership even more possible for people with low income.
"In 2024, every tenth house financed through Pag-IBIG will be social housing, which will help 9,082 people with minimum wage secure their own housing," Acosta said. "We also confirmed financing for the construction of 17,791 housing units under the 4PH program, which will provide more members of Pag-IBIG the opportunity to own a home.
More Filipino workers are realizing their dream of owning a home in 2024, as Pag-IBIG Fund granted loans totaling PHP 129.73 billion for financing purchases and construction of 90,616 homes for its members," officials announced in a media briefing on February 12. "Pag-IBIG Fund once again reaffirmed its obligation to help Filipino workers secure their own housing," said Minister Jose Ricalino Akuzar, head of the Department of Housing and Urban Development and Chair of the 11-member Pag-IBIG governing council. "Our achievements in financing housing in the past year underpin our commitment to make home ownership accessible and affordable for our members.
Members can also acquire new homes under the 4PH program, which offers preferential rates. "We are dedicated to ensuring that every Filipino worker can save and make their dream of owning a home a reality," added Acosta. "Our members can be confident that we will continue to provide them with deserved incentives so that more of our compatriots can build a better life for their families."
