Pag-IBIG Fund: Home Loans Reach a Record-High PHP 126 Billion in 2023

According to top officials, the Pag-IBIG Fund released a record-breaking P126.04 billion in house loans to finance the housing units of 96,848 members in 2023.

Compared to the P117.85 billion released the previous year, the amount of home loans provided in 2023 increased by P8.19 billion, or 7%. The figure is now the largest amount of house loans the agency has released in a single year and was sufficient to fund 96,848 housing units.

“We are happy to report that Pag-IBIG Fund has posted the highest amount of home loans released during a single year in its 43-year history. 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. This achievement is a testament to Pag-IBIG Fund’s unwavering commitment to help address the country’s housing backlog, in line with our efforts under the Pambansang Pabahay Para sa Pilipino or 4PH Program of the Marcos Administration,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and chairs the 11-member Pag-IBIG Fund Board of Trustees.
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Acuzar added on to say that 11,257, or 12%, of the total housing units the agency supported last year were socialized housing units, which are currently owned by people in the minimum-wage and low-income sectors.

Meanwhile, Marilene C. Acosta, the chief executive officer of the Pag-IBIG Fund, stated that the agency has kept its interest rates low in spite of the high market rates that are currently in place and the significant demand for the agency's home loans.

​Our performance in 2023 is noteworthy because apart from releasing the highest amount of housing loans in our history, it was also during last year – July to be exact – that we further reduced our already low interest rates on our home loans to make it even more affordable,” Acosta stated.

“We expect to maintain the affordability of our home loans, especially since we have more funds to address the increasing demand for home financing from our members with the implementation of our new monthly savings rates this February. We assure our members that they can continue to rely on us to provide them the most affordable home loan in the market, so that they too can achieve their dream of homeownership. That is our pledge as Lingkod Pag-IBIG,” she added.