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Manila Bulletin devider Business devider Pag-IBIG Fund releases record-high P40.41B home loans in Jan-May 2022, up 15%

Pag-IBIG Fund releases record-high P40.41B home loans in Jan-May 2022, up 15%

Published Jun 30, 2022 03:46 pm

Pag-IBIG Fund again surpassed its own record by releasing over P40 billion in home loans in the first five months of 2022, top officials announced on Tuesday (June 28).

From January to May, the agency released home loans worth P40.41 billion, the highest ever amount released during the first five months of any year in its history. Compared to the same period last year, the amount disbursed so far this year grew 15% from the P35.28 billion released during the same period in 2021.

“Pag-IBIG has once again set a new record in the amount of home loan releases to begin the first five months of the year.  We are happy that the number of Filipino workers who are able to become homeowners through the Pag-IBIG home loan programs continue to grow. Our consistent performance also indicates that the home loan policies we have set in place have been effective, and we expect that these would continue to enable even more Filipino workers to have decent and affordable homes in safe, sustainable and resilient communities,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the amount released as of May financed the acquisition and construction of 36,865 homes for Pag-IBIG Fund members, 5% higher than the 34,979 homes financed during the same period last year.

He added that out of the total number of homes financed, 6,787 or 18% were socialized housing units which are now owned by minimum-wage and low-income workers and their families.

“Last year, we surpassed the P100-billion peso level in home loan releases, a feat we previously thought was impossible. This year, with our record-high home loan releases from January to May, we are optimistic that Pag-IBIG Fund is well on its way to yet another banner year. Should the current trend hold, we expect to release at least P105 billion pesos in home loans by year's end. I am confident that our outstanding performance on the home loan front will be sustained, especially under the leadership of our Deputy CEO for Home Lending Marilene C. Acosta, who has been instrumental in our record-breaking performance in home loan releases since 2017”, Moti said.

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