PAG-IBIG sets record high for housing loans granted

By:Arrah Manticajon|June 17, 2019

The PAG-IBIG Fund has reported a record high in terms of home loans released during the first quarter of 2019.

Last May, the government-owned and controlled corporation has reported that it released PhP17.2 billion in PAG-IBIG housing loans to its members, reportedly the highest a GOCC has released within a quarter.

In Q1 of 2018, they only reported PhP14.1 billion, marking a 22% increase in Home Mutual Development Fund (HDMF) loans. This number translates to 19,696 homes purchased or put up by PAG-IBIG members. Twenty nine percent of these homes were for minimum wage or low income earners.
The PAG-IBIG Fund has also released PhP2.2 billion in socialized housing plans as part of the Building Adequate, Livable, Affordable and Inclusive (BALAI) Filipino Communities Program of the Duterte Administration. The BALAI program aims to help minimum and low wage earners have a house of their own.

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