Pag-IBIG fund issues record P40.41 billion in home loans Jan-May 2022, up 15%
The Pag-IBIG fund has again surpassed its own record by releasing over 40 billion pesos in home loans in the first five months of 2022, senior officials announced on Tuesday (June 28).
From January to May, the agency released 40.41 billion pesos worth of home loans, the highest amount ever granted in the first five months of a year in its history. Compared to the same period last year, the amount paid out so far this year increased by 15% versus the P35.28 billion released in the same period in 2021.
“Pag-IBIG has again set a new record for the number of home loan approvals at the beginning of the first five months of the year. We are pleased that the number of Filipino workers who can become homeowners through the Pag-IBIG home loan programs continues to grow. Our consistent performance also demonstrates that the home loan policies we have put in place have been effective, and we expect these will continue to provide more Filipino workers with decent and affordable housing 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 Pag-IBIG Fund’s 11-member Board of Trustees.
Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said the amount released in May funded the acquisition and construction of 36,865 apartments for Pag-IBIG Fund members, up 5% from the 34,979 apartments allocated were funded in the same period last year.
He added that of the total number of homes funded, 6,787, or 18%, were socialized housing units now owned by minimum-wage, low-income workers and their families.
“Last year we surpassed the 100 billion peso mark in home loan approvals, a feat we previously thought impossible. This year, with record home loan approvals from January through May, we are optimistic that the Pag-IBIG Fund is on track for another record year. If the current trend continues, we expect at least P105 billion pesos of home loan releases by the end of the year. I am confident that our excellent home loan performance will continue, particularly under the leadership of our Deputy Home Loan CEO, Marilene C. Acosta, who has been instrumental in our record-breaking home loan approval performance since 2017,” Moti said.
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