Pag-Ibig home loan releases hit P24.2B in Q1

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PAG-IBIG Fund released a record-high P24.20 billion in home loans during the first quarter of 2022, an increase of P3.26B or 16 percent compared to the P20.94 billion released during the same period in 2021, its top officials announced on Thursday, April 21, 2022.

Secretary Eduardo del Rosario, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-Ibig Fund Board of Trustees, said the amount of home loans released by the agency during the first quarter enabled 22,210 members to acquire their own homes, a seven percent increase from the 20,712 members helped during the same period in 2021.

He further added that out of the total amount, P1.78 billion were released as socialized home loans benefitting 4,114 Pag-Ibig Fund members belonging to the minimum wage and low-income sectors.

Pag-Ibig Fund chief executive officer Acmad Rizaldy Moti noted that 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 on the housing loan front is an indication of the trust of our members in our programs,” said Moti. (PR)

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