“I am happy to report that Pag-IBIG Fund continues to provide members from the low-income sector the means to own a home through the Pag-IBIG Affordable Housing Program. This shows its strong commitment to promoting inclusive growth by continuing to provide Filipino workers from underserved sectors with affordable shelter financing. All these are in line with the directives of President Ferdinand Marcos, Jr. in addressing the country’s housing backlog under the Pambansang Pabahay Para sa Pilipino Program,” Secretary Jose Rizalino L. Acuzar, who chairs the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund said Friday (Jan. 27).
The Affordable Housing Program (AHP) of the Pag-IBIG Fund is a unique program for house financing that serves the needs of minimum-wage and low-income members who make no more than P15,000 per month in the National Capital Region (NCR) and P12,000 per month outside of the NCR.
For socialized home loans up to P580,000 and socialized condominium units up to P750,000, the Pag-IBIG Fund offers a subsidized rate of 3% per year under the AHP, which is the lowest rate on the market at the moment.
The current 3% rate became available in May 2017, according to Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta. "Over the years, the Pag-IBIG Affordable Housing Program has made it possible for low-income and minimum-wage individuals to acquire a property.
Our members can benefit from a low monthly payment of as little as P2,445.30 with the lowest rate on the market for a socialized house loan of P580,000 with a loan duration of 30 years," Acosta said.(Romeo Braceros Jr.)
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