Laguna: The Department of Human Settlements and Urban Development (DHSUD) and Pag-IBIG Fund have turned over new condominium units to home buyers in Laguna, highlighting a substantial drop in monthly amortization rates for workers under the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program.
According to Philippines News Agency, DHSUD Secretary Jose Ramon Aliling and Pag-IBIG Fund Chief Executive Officer Marilene Acosta inspected and turned over a pioneering 2.5-hectare socialized vertical development at Pasinaya Heights in Barangay Baclaran in Cabuyao. Nearly 300 Pag-IBIG Fund members have purchased units in the development, which consists of four seven-story residential towers, housing over 2,700 units.
Aliling, who is also the chairperson of the Pag-IBIG Fund Board of Trustees, emphasized that the turnover delivers on the administration's pledge to bring quality housing within reach of the working class. He noted that President Marcos has been clear in his directive to bring decent and affordable housing closer to Filipino families, especially workers needing government support.
The modern socialized development features vertical amenities, including elevators, a swimming pool, a covered basketball court, a playground, a day care, and a healthcare center. Under the Expanded 4PH Program, the monthly amortization for a PHP1.404-million unit at Pasinaya Heights drops to approximately PHP5,919 during the first five years due to a subsidized 3 percent interest rate, saving buyers nearly PHP3,000 per month compared to the regular Pag-IBIG housing loan rate.
By pairing the Expanded 4PH Program with Pag-IBIG's specialized financing, the interest rate is subsidized down to 3 percent during the first five years, reducing the monthly payment for a PHP1.404-million unit and undercutting regular loan rates by nearly PHP3,000, which is significantly lower than average condominium rental rates in Laguna.
Acosta stated that every peso saved from monthly housing payments matters to members, helping pay for essential needs such as food, education, health care, and utilities. Through the Expanded 4PH Program and Pag-IBIG Fund's subsidized housing loan rate for socialized homes, Filipino workers now have a practical path to homeownership. Acosta also praised private developer Joy~Nostalg Hearth Corporation for its collaboration with the state, noting the company's role as one of Pag-IBIG Fund's top-performing partners in advancing socialized housing nationwide.
