Pag-IBIG Fund released P17.22 billion in home loans in the first quarter of 2019, up P3.12 billion from P14.1 billion year-on-year, the highest amount released by the agency in the first three months of a year.
The amount financed the acquisition and construction of 19,696 homes for Pag-IBIG Fund members, also a record-high in the first quarter of a year, and up 13 percent from 17,398 homes on year.
The fund said 5,789 units or 29 percent were for socialized housing units benefitting minimum-wage and low-income earners.
“Pag-IBIG Fund’s performance in the first quarter of 2019 stands out as the best so far. Bigger loan releases and increasing number of borrowers mean that more and more Filipino workers are being helped by Pag-IBIG Fund achieve their dream of homeownership,” said Secretary Eduardo del Rosario, who heads the Housing and Urban Development Coordinating Council and the Pag-IBIG Fund board.