The state-owned corporation, Pag-IBIG Fund, announced that they releasedP88.3 billion in home loans during the initial nine months of this year.
This marks an increase of nearly P5 billion compared to the P83.31 billion released in the same period last year.
Among the total, P3.49 billion was allocated for socialized home loans, benefiting 8,216 Pag-IBIG Fund members from the minimum-wage and low-income sectors.
This year’s funds supported the construction of 68,211 housing units, as per the fund’s report.
Department of Human Settlements and Urban Development Secretary Rizalino Acuzar stated that Pag-IBIG accounts for almost 40 percent of the nation’s total home mortgages.
Pag-IBIG Fund is optimistic that their home loan releases may even reach P130 billion by year-end.
Source: PhilNews24 | October 16, 2023
