The Home Development Mutual Fund (Pag-IBIG Fund) has released a record-high PHP24.20 billion for home loans during the first quarter this year.
The data released Friday showed an increase of up to 16 percent or PHP3.26 billion compared to PHP20.94 during the same period last year.
PHP100.8 billion of home loans were released in 2021, also a record.
The total amount of released home loans assisted 22, 210 Fund members, an increase of 7 percent from the 20,712 members who availed of loans during the first quarter of 2021.
Of the total amount released, PHP1.78 billion was provided as socialized home loans benefitting some 4,114 Pag-IBIG Fund members belonging to the minimum wage and low-income sectors.
Department of Human Settlements and Urban Development Secretary Eduardo del Rosario said the “sustained growth” in the loan disbursement is part of the agency’s contributions to the revival of the economy affected by the Covid-19 pandemic.
“We are happy to report that we have again posted a record-high in home loan releases in the first three months of 2022. Our strong start this year means that more Filipino workers have been helped by Pag-IBIG Fund in acquiring their own homes,” del Rosario, also the chairperson of the Fund’s board of trustees, said in a statement.
To better serve the public, the Fund has deployed Lingkod Pag-IBIG on Wheels in select areas nationwide.
The mobile housing caravan will also start catering to the promotion and marketing of the government’s home loan programs and other services.
