Pag-IBIG Fund raises housing loan limit to P10 million
“With the higher PHP10-million loan ceiling, Pag-IBIG Fund can now serve more members, especially Filipino workers who seek homes in higher price segments but still require long-term and affordable financing to own homes near their workplaces, schools, and sources of livelihood,” Aliling said in a news release on Wednesday.
(File photo courtesy of Megaworld Bacolod)
MANILA – Pag-IBIG Fund has raised its maximum housing loan amount per borrower to PHP10 million, providing middle-income and higher-earning Filipino workers access to affordable long-term home financing, particularly in Metro Manila and other highly urbanized areas, top officials announced on Monday.
Pag-IBIG Fund said the move was made to further widen the reach of President Ferdinand R. Marcos Jr.’s flagship Expanded Pambansang Pabahay para sa Pilipino, or Expanded 4PH Program, and help address the oversupply of available housing inventory.
The higher loan ceiling complements the program’s ongoing subsidized 3 percent housing loan rate for qualified buyers of socialized housing, enabling Pag-IBIG Fund to serve more members seeking homes beyond the socialized housing segment through affordable long-term financing.
DHSUD Secretary Jose Ramon Aliling, who also chairs the Pag-IBIG Fund Board of Trustees, said the increase is part of the government’s broader effort to make homeownership more accessible to Filipino workers across income segments.
“With the higher PHP10-million loan ceiling, Pag-IBIG Fund can now serve more members, especially Filipino workers who seek homes in higher price segments but still require long-term and affordable financing to own homes near their workplaces, schools, and sources of livelihood,” Aliling said in a news release on Wednesday.
Source: PNA.GOV.PH