Update on Pag-IBIG Fund Home Loan Releases
PAG-IBIG FUND – The government agency posted the amount it released for the Home Loans in the first quarter of the year 2022.
The Pag-IBIG Fund is one of the biggest government agencies in the country. Many of its services surround its goal to help its Filipino members acquire affordable housing. It aims to make owning a house more achievable to many Filipino families.
How does it do it? Through home loans. The government agency has a home loan offer wherein its members can apply for so they will be assisted in purchasing a residential property. The government agency will purchase the property and the member-borrower will just have to repay the amount in monthly installment basis.
As a government agency, Pag-IBIG gives a quarterly update on its releases for specific loans. It unveils not only the amount but as well as the number of beneficiaries.
Recently, Pag-IBIG Fund posted an update regarding its release for home loans in the first quarter of the year 2022. According to the government agency, it released a record-high amount of Php 24.20 billion for its home loans. It is 16% higher compared to the Php 20.94 billion that was released in the same period in 2021.
According to Department of Human Settlements and Urban Development and 11-member Pag-IBIG Fund Board of Trustees head and Pag-IBIG Fund Secretary Eduardo del Rosario, out of the total amount of Php 24.20 billion released in the first quarter of this year, P1.78 billion were released as socialized home loans. It benefitted 4,114 members of the government agency.
“We are happy to report that we have again posted a record-high in home loan releases in the first three months of 2022. Our strong start this year means that more Filipino workers have been helped,” Del Rosario said.
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