Pag-IBIG Fund released a record P24.20 billion in home loans in the first quarter, up P3.26 billion or 16 percent from the P20.94 billion in the same period last year, top officials said Thursday.
“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,” said Secretary Eduardo del Rosario, who heads the Department of Human Settlements and Urban Development.
“The sustained growth in our home loan disbursements also contributes to the economy, as we continue to help our members and the country recover from the pandemic,” said del Rosario, who also chairs the 11-member Pag-IBIG Fund board of trustees.
Del Rosario said the amount of home loans released by the agency in the first quarter enabled 22,210 members to acquire their own homes, a 7-percent increase from the 20,712 members helped in the same period in 2021. He said of the total amount, P1.78 billion was released as socialized home loans benefitting 4,114 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors.
Meanwhile, Pag-IBIG Fund chief executive Acmad Rizaldy Moti said the agency’s performance at the start of the year is a continuance of its record-high achievement in 2021 when the agency surpassed P100 billion in home loan releases.
“After coming off a record-setting 2021 with P100.8 billion in home loans released, we have yet again set another record-high in housing loan takeouts for the first quarter of 2022. Our performance in the housing loan front is an indication of the trust of our members in our programs.
More importantly, our record-high numbers show the increasing number of Filipino workers we have enabled to have homes of their own. We aim to keep our loan interest rates low and help more Filipinos become homeowners. That is the Lingkod Pag-IBIG way,” said Moti.