August 18, 2025 | 12:00am
MANILA, Philippines — The House Improvement Mutual Fund, generally referred to as Pag-IBIG Fund, will prolong its particular three % housing mortgage fee for certified debtors beneath the Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program, doubling the usual five-year sponsored interval.
It can prolong the mortgage fee for the primary 30,000 debtors, and the interval to 10 years, in a transfer to make dwelling financing reasonably priced and speed up the administration’s housing agenda.
Division of Human Settlements and City Improvement Secretary Jose Ramon Aliling, who chairs the Pag-IBIG board of trustees, stated the extension of the sponsored fee would enable debtors to get pleasure from charges a lot decrease than prevailing market charges for an extended interval.
“Other than protecting each home and lot and condominium items that members can buy at a particular fee for the primary 5 years of the mortgage time period, we’re extending the efficient interval of the sponsored fee to 10 years for the primary 30,000 debtors,” he stated.
Eligibility contains first-time dwelling consumers incomes as much as P47,856 in Metro Manila and P34,686 exterior NCR for the three % fee, in addition to all abroad Filipino staff no matter revenue, widening entry to reasonably priced Pag-IBIG housing loans.
“This implies they are going to benefit from the three % fee, already a lot decrease than prevailing market charges, for a full decade, making dwelling possession much more reasonably priced,” the housing secretary added.
Underneath this system, members can avail loans to buy socialized housing items priced as much as P850,000, or condominium items price as a lot as P1.8 million in accredited Expanded 4PH tasks.
Extra financing of as much as P100,000 is obtainable for dwelling enhancements, which can embody bills corresponding to putting in utility connections, including important dwelling fixtures, and finishing different needed family upgrades.
Pag-IBIG CEO Marilene Acosta stated the prolonged fastened fee provides staff a stronger probability to safe properties.
“As we supply out our mandate to uplift the lives of our members… with considerably decrease month-to-month funds for an extended interval, extra Filipino staff can now obtain their dream of proudly owning a house,” she stated.