Pag-IBIG sets record 1st-quarter home loan releases

HOME loans amounting to P28.09-billion were released by the Pag-IBIG Fund for the first quarter of 2024, the highest amount released for such a period.

Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar, who also heads the 11-member Pag-IBIG's Board of Trustees, said the achievement was in line with the government's efforts to ease the country's housing backlog.

Agency officials made the announcement on home loan releases during the North Luzon leg of the Stakeholders Accomplishment Report (StAR) on May 10.

DHSUD Secretary Jose Rizalino Acuzar. PHOTO BY MIKE ALQUINTO

In a statement, Pag-IBIG said the January to March home loans were higher by P520.81 million than the P27.57 billion released during the same period in 2023.

Acuzar said 19,817 members were able to acquire their own homes out of the amount released.

«Pag-IBIG Fund's performance for the first quarter of 2024 now stands as the highest in our history,» he said.

Advertisement

«This means that Pag-IBIG Fund continues to serve more Filipino workers over the years, enabling their members to have homes that they can call their own,» he said.

Pag-IBIG Chief Executive Officer Marilene Acosta was at the forefront of the semi-annual stakeholder engagement events held in key regions aimed at updating members, employers and partner-developers on the state of the fund.

Aside from first-quarter accomplishments, the agency also had another banner year in 2023, releasing P126.04 billion in shelter financing — a 7-percent jump from the P117.85 billion in 2022.

«We thank our stakeholders, namely the business community, for the timely remittance of their employees' monthly savings and loan payments, our partner developers in building and delivering quality housing projects and accounts, our members who continue to save with us and choose our loan programs, and our borrowers for their prompt payment on their loan obligations,» Acosta said.

Advertisement