Pag-Ibig Fund finances over 5K socialized homes for low wage earners in first 4 months

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THE Pag-Ibig Fund has financed 5,411 socialized homes for minimum-wage and low-income members in the first four months of 2022.

Socialized home loans make up 18 percent of the 29,310 units financed by the agency from January to April 2022. In terms of amount, socialized home loans represent seven percent or P2.35 billion out of the record-high P31.97 billion home loans released by the agency for the period.

The Pag-Ibig Fund’s Affordable Housing Program (AHP) is for members from the low-income and minimum-wage sectors who earn up to P15,000 a month in the National Capital Region (NCR), and up to P12,000 per month outside the NCR.

Under the AHP, borrowers enjoy a subsidized rate of three percent per annum for home loans of up to P580,000 for socialized subdivision projects, and up to P750,000 for socialized condominium projects.

Pag-Ibig Fund chief executive officer Acmad Rizaldy Moti said the AHP’s three percent rate remains the lowest in the market – a rate that the agency has provided for low-income members since May 2017, and is able to offer due to its tax-exempt status as prescribed under Pag-Ibig Fund Law of 2009. (with PR)

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