Pag-IBIG Fund assisted 24,983 low-income workers last year in realizing their dream of home ownership through Pag-IBIG housing loans, with a combined loan value of P8.5 billion.
Pag-IBIG Fund officer-in-charge Acmad RizaldyMoti said the number of units represented 33 percent of the Fund’s 76,247 total housing loan portfolio last year and was 25 percent or about 5,000 units more than the total socialized housing units delivered in 2015.
“Pag-IBIG Fund actively contributes to the efforts of the national government and the housing industry to offer decent and affordable housing to the underserved sector,” Moti said.
Pag-IBIG member-borrowers under socialized housing are mostly minimum-wage earners and individuals from low-income groups that include household helpers and public utility vehicle drivers who do not have access to the housing loan facilities of private financing institutions.
The Housing and Urban Development Coordinating Council set the socialized housing price ceiling at P450,000.
Moti said Pag-IBIG partnership with employers has become an effective strategy in providing socialized housing to the employees.
The partnership, according to Moti, allows employers to offer the housing units at a price lower than the appraised value.