Lipa city: The Department of Human Settlements and Urban Development (DHSUD) and the Home Development Mutual Fund, known as Pag-IBIG Fund, have spearheaded the formal handover of newly constructed house-and-lot units in Lipa City, Batangas. This initiative is part of the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program.
According to Philippines News Agency, the event marked the official receipt of keys by Pag-IBIG Fund housing loan borrowers, signifying a localized advancement in the national housing program. This turnover follows a series of site inspections and similar handovers in Expanded 4PH projects across various regions, including Pampanga, Nueva Ecija, Laguna, and Bacolod.
Secretary Jose Ramon Aliling, who chairs the Pag-IBIG Fund Board of Trustees, highlighted the turnover and site inspection as a testament to the administration's commitment to converting presidential directives into tangible housing solutions for Filipino workers. He emphasized the program's success in enabling families to access safe and affordable homes through enhanced public-private sector collaboration.
Aliling reiterated the government's focus on maintaining the national housing program's momentum by strengthening cooperation with key shelter agencies, financial institutions, and private developers. He cited the clear directive from President Marcos to accelerate construction and make decent housing more accessible to Filipino families.
Nuvista Homes Lipa, the development in question, offers 1,160 ready-for-occupancy units with plans for over 2,000 additional units. The development includes three house models-Marya, Yasmin, and Solida-priced between PHP950,000 and PHP2.2 million. The Solida model, as part of the socialized housing component, is available at approximately PHP950,000, with a 3-percent subsidized interest rate under the Expanded 4PH Program, reducing monthly payments to as low as PHP4,005.
Following the turnover at Nuvista, officials inspected Idesia, another residential development by P.A. Properties in Lipa. This inspection underscored the expanded scope of Pag-IBIG Fund's housing loan programs, which now cater to a wider range of homebuyers. Idesia offers premier units priced from PHP3.5 million to PHP7 million, now financeable through Pag-IBIG Fund following a policy adjustment that raised the maximum housing loan cap to PHP10 million per borrower.
Pag-IBIG Fund Chief Executive Officer Marilene Acosta stated that the dual strategy of increasing housing availability and easing financial thresholds is making homeownership more attainable across different income levels. She emphasized the importance of affordable housing loan programs in making monthly payments more manageable, thus bringing members closer to homeownership.
Acosta highlighted that Pag-IBIG's mechanisms are structured to assist both low-income families in need of socialized housing and middle-income workers purchasing from the open market. She noted that savings on monthly housing payments could support other essential needs such as food, education, and healthcare.
Through favorable rates, extended repayment terms, and designed monthly payments, Pag-IBIG Fund remains committed to offering Filipino workers a feasible path to owning a safe and decent home.
