Pag-IBIG releases record-setting P24.2B in home loans in Q1

State-run Home Development Mutual Fund (Pag-IBIG Fund) said Friday it has released a record-breaking P24.20 billion in home loans during the first quarter of 2022.

The amount of home loans released by the Pag-IBIG Fund during the period was 16% higher than the P20.94 billion released in the same period last year.

“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 by Pag-IBIG Fund in acquiring their own homes,” said Housing Secretary Eduardo del Rosario, who heads the 11-member Pag-IBIG Fund Board of Trustees.

“The sustained growth in our home loan disbursements also contributes to the economy, as we continue to help our members and the country recover from the pandemic,” said del Rosario.

The Housing chief said that the amount of home loans released during the first quarter enabled 22,210 members to acquire their own homes, a 7% increase from the 20,712 members helped during the same period in 2021.

Del Rosario said that of the total amount released during the period, P1.78 billion was released as socialized home loans benefiting 4,114 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors.

Pag-IBIG CEO Acmad Rizaldy Moti said that the agency’s performance in the first three months of 2022 follows the agency’s record-high achievement in 2021 when it surpassed P100 billion in home loan releases.

“After coming off a record-setting 2021 with P100.8 billion in home loans released, we have yet again set another record-high in housing loan takeouts for the first quarter of 2022,” said Moti.

“Our performance in the housing loan front is an indication of the trust of our members in our programs. More importantly, our record-high numbers show the increasing number of Filipino workers we have enabled to have homes of their own. We aim to keep our loan interest rates low and help more Filipinos become homeowners,” he added. —VBL, GMA News