The Home Development Mutual Fund or Pag-IBIG Fund on Friday said it financed 8,471 socialized homes for minimum wage and low-income members amounting to P3.67 billion in the first half of 2022.
The agency said the P3.67 billion for socialized home loans represents 7% of the total housing loans released by the agency for the period. “We at Pag-IBIG Fund remain committed in pursuing our mandate to provide a home for every Filipino worker. With our Affordable Housing Program, achieving the dream of homeownership is made possible especially for minimum-wage workers. The program’s lowest rates and longest payment term allow our members from the low-income sector to buy or build a home of their own,” said Pag-IBIG Fund CEO Acmad Rizaldy Moti.
Under the AHP, eligible borrowers enjoy a special subsidized rate of only 3% per annum for home loans of up to P580,000 for socialized subdivision projects.
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