Pag-IBIG home loan releases up 16%, reach record-high P24.2B in Q1
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% compared to the P20.94 billion released during the same period in 2021, its top officials announced on Thursday (April 21).
“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. 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 Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.
Del Rosario added that the amount of home loans released by the agency during the first quarter enabled 22,210 members to acquire their own homes, a 7% 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.
Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. 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 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.