Pag-IBIG Fund releases record-high P44B home loans in H1 2021, up 113%

UNTV News   •   July 9, 2021   •   727

Despite the pandemic, Pag-IBIG Fund achieved another record by releasing over P44 billion in home loans in the first half of 2021, top officials announced on Friday (July 9).

From January to June, the agency released home loans worth P44.34 billion – the highest amount ever released during the first half of the year – and more than double the P20.80 billion it released during the same period in 2020.

Compared with the P37.07 billion released during the pre-pandemic period of January to June 2019, when strict community quarantines in Metro Manila and parts of Luzon had yet to be implemented, disbursement in the first half of 2021 is higher by nearly 20%.

“This is an indication that the number of Filipino workers who are able to become homeowners via the Pag-IBIG home loan programs continues to grow. In these tough times, we remain steadfast in our commitment to answer President Rodrigo Duterte’s call for government agencies to provide social benefits to more Filipinos,” 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 P44.34 billion released in the first half of 2021 enabled 43,573 members to acquire their own homes. Out of the total amount, P4.66 billion was released to finance the acquisition of socialized housing. Of the total number of members who benefited from the agency’s home loan programs in the first half of the year, 10,640 or 24% belong to the minimum-wage and low-income sectors.

He added that with its home loan disbursement reaching a record high over the past six months, he expects to exceed by yearend the P86.74 billion home loans released in 2019, which is the highest amount ever released by the agency in a single year.

“With the way things are going, I’m very optimistic that by the end of 2021, we will surpass the total home loan releases of 2019, which is our best year yet. The P44.34 billion disbursed is especially important because we achieved higher figures this year compared to the same period before the pandemic happened.

“On average, we released over P7 billion in home loans every month in the first half of the year. If this trend holds and succeeding monthly releases remain higher than usual, home loan releases by the end of the year will likely breach the P90 billion mark and may even reach P100 billion.

“This translates to another ‘best year ever’ for us and, more importantly, even more members having a home of their own where they can be safe as the health emergency continues,” Moti said. (PR)

 Pag-IBIG home loan releases surpass P100 B in 2021 for record-high; up 58%

UNTV News   •   January 22, 2022

Pag-IBIG Fund has once again set a record-high as home loans breached P100 billion, even amid the ongoing pandemic, agency officials announced on Friday (Jan.21).

For 2021, Pag-IBIG Fund released home loans worth P97.28 billion. And, with interim releases for loans for house construction and renovation amounting to P3.5 billion, total releases have reached P100.8 billion – the highest amount ever released by the agency in a year.

The amount disbursed in 2021 grew 58% compared to the P63.75 billion released in 2020 and has surpassed by 16% the P86.74 billion released in 2019, the agency’s previous record-high.

“While the country is still facing challenges caused by the pandemic, I am happy to report that Pag-IBIG released more than P100 billion in home loans in 2021, surpassing its ‘best-ever’ figure which it achieved in 2019, before the health crisis started,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 10-member Pag-IBIG Fund Board of Trustees.

“This is very good news for our members because bigger releases mean that more Filipino workers have become homeowners even during the pandemic. The growth in home loan disbursements also contributes to the economic recovery efforts of the government.” He added.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the amount released financed the acquisition of a record-high 94,533 housing units for its members, an increase of 48% compared to the 63,750 housing units financed in 2020.

Of the amount released, P9.71 billion financed the acquisition of 22,028 socialized housing units for members belonging to the minimum-wage and low-income sectors, or 23% of the entire number of homes financed for the whole year of 2021.

“We previously thought that releasing P100 billion in home loans in one year was impossible. Yet, even when our home loan releases were at P57 billion in 2016, we still targeted the release of P100 billion by 2022,” said Moti.

“And, thanks to the commitment of your Lingkod Pag-IBIG and the support of our stakeholders, we have already surpassed P100 billion in home loan releases in 2021 – a year earlier than our target date and even during a pandemic! What truly is significant behind this number is that we were able to serve more Filipino workers during the most difficult times and we remain a catalyst for the Philippine housing industry to thrive even amid the pandemic. I am grateful to everyone who helped make this seemingly impossible goal come true,” he added.

 

Pag-IBIG Fund now accepting application for calamity loan of members in Odette-hit areas

Maris Federez   •   December 29, 2021

MANILA, Philippines — The Home Development Mutual Fund (Pag-IBIG Fund) has announced the allocation of Php5 billion in calamity loans and is now accepting applications to help its members affected by Typhoon Odette.

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as an aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo D. del Rosario in a statement released recently.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned, the statement said.

And in consideration of the plight of the members, the calamity loan is offered at a rate of 5.95% per annum which is the lowest rate in the market, it added.

The loan is payable over a period of up to three years. It gives the borrower a grace period of two months so that the initial payment is due only on the third month after the loan is released.

Qualified borrowers may apply for the loan within 90 days from the date when an area has been declared under a state of calamity.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG.

Pag-IBIG Fund allocates P5B in Calamity Loan to help members in Odette-hit areas

UNTV News   •   December 23, 2021

Pag-IBIG Fund has allocated P5 billion in Calamity Loans to help its members affected by typhoon Odette, its top executives announced on Wednesday (Dec. 22).

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” 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.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned. And in consideration of the plight of the members, the Calamity Loan is offered at a rate of 5.95% per annum which is the lowest rate in the market.

The loan is payable over a period of up to three years, with a grace period of two months so that initial payment is due only on the third month after the loan is released. Qualified borrowers may apply for the Calamity Loan within 90 days from the date when an area has been declared under a state of calamity.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added that as of November this year, more than P1.15 billion in Calamity Loans have been released by the agency to help 76,521 members in calamity-hit areas. He also added that the program has been made more affordable as borrowers now have the option to choose a longer 3-year term to reduce monthly payments by up to 31%. This means that for a Calamity Loan worth P20,000, monthly payments will be reduced from P897.23 to only P615.72.

“Members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG. This would allow them to file and receive their loans safer and faster, so that they can continue to tend to the needs of their families as they recover from the effects of the typhoon.

And, even while our own offices and personnel in typhoon-hit areas have also been affected, our branches are open and ready to receive loan applications. Your Lingkod Pag-IBIG is committed to deliver service that matters, always and in all ways,” said Moti.

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