Update on Pag-IBIG Socialized Home Loans Releases in 2021
PAG-IBIG SOCIALIZED HOME LOANS – The government agency revealed the total amount that it has released to its members in 2021.
A lot of Filipinos in the Philippines were able to get a house for their families with the help of the offers of Pag-IBIG Fund. It is a government agency that stands with the aim to provide affordable housing options to its members. How does it do it?
If you are not a member of Pag-IBIG Fund, usually, there are only two (2) options in buying a house – pay for it in full or apply for a loan to a bank or a lending firm. Truth be told that not everyone is ready to make such a big purchase of buying a house and lot. In the case of the latter, banks and lending firms have huge interests on its housing loan offers and the qualifications may be hard to surpass. You need to have a stable and huge monthly income.
Meanwhile, if you are a member of Pag-IBIG Fund, you may apply for a housing loan even if you are a low-income earner. There are Pag-IBIG socialized home loans offered to members.
The Pag-IBIG socialized home loans which are under the government agency’s Affordable Housing Program (AHP) is open for low-income earners. Pag-IBIG members in the National Capital Region (NCR) who earn up to P15,000.00 monthly and up to P12,000.00 every month for members outside the capital region may apply for this loan offer.
According to the government agency, it has funded 22,028 housing units under the Pag-IBIG socialized home loans in 2021. It is 30% higher compared to the loans granted in 2020 which funded 16,975 units. The total amount of this year’s loans reached P9.71 billion.
For the loanable amount under this Pag-IBIG Fund offer, you may visit – Pag-IBIG’s Affordable Housing Program: How Much You May Borrow Under it.
