Pag-IBIG housing loans up 17% in H1

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PAG-IBIG Fund released P28.8 billion in housing loans during the first six months of the year, up 17 percent
from the amount released in the same period last year.

The fund is targeting loan takeouts for 82,000 housing units for 2017 or an estimated P65 billion in housing loans, Pag-IBIG said in a statement.

“With our accomplishment in the first semester of 2017, I can confidently say that we are on track to reach our target by end of the year,” Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti said.

Pag-IBIG recently lowered its interest rates to 3 percent for loans below P450,000 and to 5.5 percent for loans amounting to P450,000 and higher to encourage more members to borrow money and build houses.

“Housing and Urban Development Coordinating Council Chairperson Eduardo Del Rosario said he is pleased to know that Pag-IBIG is exerting all efforts to support the call of President Rodrigo Duterte to help uplift the lives of Filipino families through sustainable social development programs, including the provision of decent, yet affordable housing,” Pag-IBIG noted.

The fund has so far financed 78,345 housing units with a combined value of P61.4 billion from July 2016 to June 2017.

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