Pag-IBIG releases record-high P118-B home loans in 2022: Over 100,000 members with new homes

The Pag-IBIG Fund released a record-high P117.85 billion in home loans to finance the housing units of 105,212 members in 2022, its top officials announced on 18 January.

For 2022, the amount of home loans released by the agency increased by 21 percent or P20.57 billion, compared to the P97.28 billion released in 2021. With the amount, Pag-IBIG financed the acquisition and construction of 105,212 homes for its members, or an increase of 11 percent from the 94,533 homes financed in 2021.

“We are happy to report that Pag-IBIG Fund has once again set a new record-high in home loan releases in 2022. This is very good news because as the amount of home loans we release increases, so does the number of Filipinos who now have homes of their own,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

“Pag-IBIG Fund’s performance is a testament to our united and unwavering efforts to resolve the country’s housing backlog, in line with the objective of President Ferdinand Marcos, Jr. under the Pambansang Pabahay Para sa Pilipino Program,” Acuzar added.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, said the 105,212 housing units financed in year 2022 is also a record-high, and marks the first time that the agency has financed more than 100,000 housing units in a single year. She further stated that out of the total housing units financed by the agency last year, 18,657 or 18 percent were socialized housing units which are now owned by members from the minimum-wage and low-income sectors.

“We at Pag-IBIG Fund have always strived to provide our members — the Filipino workers– the means to have their own homes through affordable shelter financing. That is why we take great pride in achieving a record-high number of housing units financed in 2022, because it means that we have empowered even more Filipinos in gaining their own homes. And, as we embark on yet another year, our members can continue to rely on Pag-IBIG Fund to provide them the most affordable home loan in the market, so that they too can achieve their dream of homeownership. That is the Lingkod Pag-IBIG pledge,” Acosta said.

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The article was originally published in Daily Tribune.