UPON the order of President Ferdinand R. Marcos Jr., the government has lowered housing loan interest rates and increased the maximum home loan amount under the Home Development Mutual Fund (PAG-IBIG Fund) to make homeownership more accessible to Filipinos.
Speaking during a Palace press briefing, Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro announced on Wednesday that the enhanced financing packages are in line with President Marcos’ directive to expand access to affordable housing under the administration’s Expanded Pambansang Pabahay para sa Pilipino (4PH) Program.
“Kahit ano pa ang budget mo, may house financing option na angkop para sa iyo! Naging posible ang mga hakbang na ito dahil sa maingat na pagma-manage ng pondo at pagpapahiram ng pera ng PAG-IBIG sa mga miyembro nito,” Castro said.
Under the new financing scheme, PAG-IBIG reduced the subsidized interest rate for socialized housing borrowers to three percent. Promotional interest rates were likewise lowered to 4.5 percent for low-cost housing and 5.75 percent for open-market housing.
Castro also announced that PAG-IBIG has increased its maximum housing loan amount to PhP10 million, allowing more members to qualify for higher-value housing loans.
She said the new financing options are intended to provide Filipinos with more affordable monthly amortizations and a wider range of housing choices, regardless of their budget.
According to Castro, the improved loan packages were made possible through PAG-IBIG Fund’s prudent financial management and sustainable lending operations.
The Palace Press Office said the latest measures support the Administration’s goal of making homeownership more attainable for more Filipino families through affordable and flexible housing finance programs.
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