Latest news with #HomeDevelopmentMutualFund
GMA Network
3 days ago
- Business
- GMA Network
Pag-IBIG offers 3% rate for first 30,000 borrowers under expanded 4PH program
The Home Development Mutual Fund or Pag-IBIG Fund announced on Monday that it will offer a special 3% per annum interest rate to the first 30,000 borrowers for the first 10 years of housing loan under the Expanded Pambansang Pabahay Para sa Pilipino (4PH). 'Sa karaniwan po kasi, limang taon po yung special subsidized 3% rate, yung unang limang taon ng kanilang loan term. Under po sa ating early bird promo, yung unang 30,000 borrowers po natin ay mae-enjoy yung subsidized rate na yan for the first 10 years of the loan, isang dekada po na mae-enjoy yung subsidized rate,' said Jack Jacinto, Pag-IBIG Fund Vice President for Public and Member Relations, in Bagong Pilipinas Ngayon. (Typically, the special subsidized 3% rate lasts for the first five years of their loan term. However, under our early bird promo, our first 30,000 borrowers will enjoy that subsidized rate for the first 10 years of the loan — a full decade that they can enjoy the subsidized rate.) Pag-IBIG said the special promo is meant to encourage the public, particularly the low-income and minimum wage earners, to avail of affordable housing. 'Yung unang maga-apply at maaprubahan po sa Pag-ibig housing loan para sa expanded 4PH, sila po ang makakatamasa po nito. Ang dahilan po niyan ay para maengganyo ang ating mga kababayan lalo na at may plano na sila bumili ng kanilang bahay ay tignan itong alok po ng ating pamahalaan. Mura na po ito pero mas pinamura pa natin ito,' said Jacinto. (The first to apply for and be approved for a Pag-IBIG housing loan under the expanded 4PH program will be able to avail of this. The reason for this is to encourage our citizens, especially those who already plan to buy a house, to consider this offer from our government. It's already affordable, but we've made it even more so.) Pag-IBIG said the monthly payment would be more affordable with the special offer. For instance, a socialized housing unit that costs P850,000 is usually payable by P5,400 to P5,500 monthly. 'Sa pangkaraniwan po ay mababa na ang monthly nito sa ilalim ng regular Pag-IBIG housing loan na nasa around P5,400 (to) P5,500. Sa tulong ng special subsidized rate sa ilalim ng Pag-IBIG housing loan para sa expanded 4PH, ang monthly payment nito ay aabout sa P3,600 to P3,700 na lamang,' said Jacinto. (Normally, the monthly payment for this under a regular Pag-IBIG housing loan is already low, around P5,400 to P5,500. But with the special subsidized rate under the Pag-IBIG housing loan for the expanded 4PH, the monthly payment will only be around P3,600 to P3,700.) Open to OFWs The expanded 4PH program is also open to overseas Filipino workers regardless of their income, said Pag-IBIG. 'Ang kwalipikado dito ay yung mga first-time home buyers. Para sa mga nagtatatrabaho sa NCR, dapat hindi lalagpas sa P47,800 yung kanilang kinikita. Ibig sabihin sakop yung mga minimum wage earners, low-income earners. Pagdating outside of NCR, not more than P34,800 yung kanilang monthly income,' said Jacinto. (Those who qualify for this are first-time home buyers. For those working in NCR (National Capital Region), their income should not exceed P47,800. This means it covers minimum wage earners and low-income earners. For those outside of NCR, their monthly income should be not more than P34,800.) Click here for the list of available units under the expanded 4PH. — BAP, GMA Integrated News
GMA Network
01-08-2025
- Business
- GMA Network
Pag-IBIG Fund posts record-high P28.04B net income in H1 2025
The Home Development Mutual Fund or Pag-IBIG Fund saw its bottom line grow by double-digit in the first half of 2025 on the back of higher premium collections and earnings from its housing loan programs. In a statement on Friday, Pag-IBIG Fund reported a net income of P28.04 billion, up 15.25% or P3.71 billion from a year earlier. This is the highest net income recorded since the agency was founded in 1980, according to the housing fund. The fund added that its gross earnings stood at P44.39 billion, up 11.65% or P4.63 billion higher year-on-year. Pag-IBIG Fund said its financial performance during the period was due to strong collections and higher earnings from its housing and short-term loan portfolios. 'This performance shows how excellently we are managing the funds that our members have entrusted to us. With our strong fiscal standing, we remain capable of continuing to deliver our members' benefits and are in a solid position to finance more homes under the 'Expanded Pambansang Pabahay para sa Pilipino' or Expanded 4PH Program, in line with the directive of President Ferdinand R. Marcos Jr. to empower more Filipinos to achieve better, more dignified lives,' said Secretary Jose Ramon Aliling of the Department of Human Settlements and Urban Development, who also chairs the 11-member Pag-IBIG Fund Board of Trustees. Moreover, Pag-IBIG Fund said higher investment returns also contributed to its first half 2025 income growth. In particular, the fund's income from investments surged by 51.79% year-on-year to P4.27 billion 'driven by strategic placements in bonds and other debt securities, money market instruments, equities, and investment properties.' Pag-IBIG Fund said its investment income accounted for 5.56% of the fund's total gross earnings during the period. For her part, Pag-IBIG Fund CEO Marilene Acosta bared the fund's financial position. As of June 2025, Pag-IBIG Fund's total assets stood at P1.14 trillion, up 7.02% or P74.90 billion increase from the year-end 2024 figure of P1.07 trillion. Acosta said the agency's strong performance 'directly benefits its members' as the fund, under its charter, returns at least 70% of its annual net income to members in the form of dividends, which are credited to their savings every year. — BAP, GMA Integrated News
Filipino Times
15-07-2025
- Business
- Filipino Times
How to buy a Pag-IBIG foreclosed property: A step-by-step guide
For many overseas Filipino workers (OFWs), owning a home is more than just a dream—it's a symbol of security, success, and a reward for years of sacrifice abroad. But with rising property prices in the Philippines, this dream can feel out of reach. Fortunately, there are alternative ways to acquire a home at a more affordable price. One such opportunity is through the Home Development Mutual Fund (Pag-IBIG Fund), which offers foreclosed properties at significantly lower prices. These properties, which were repossessed due to loan defaults, are made available to buyers looking for budget-friendly housing options. But before making a decision, it's essential to understand the process to ensure a smooth transaction. Here's a guide on how to purchase these properties and make the most of the opportunity: Step 1: Browse the List of Available Properties Pag-IBIG Fund regularly publishes a list of foreclosed properties available through its Online Public Auction (OPA)—a secure, fast, and convenient way to purchase properties wherever you are in the world. These listings can be accessed through the official Pag-IBIG website, organized by location and auction stage. Discounts of up to 45% are offered, making these properties more affordable than most in the market. Each listing includes details such as the property's location, lot/floor area, and minimum bid price. Property types vary—from residential lots and single-detached homes to townhouses and condominiums. Use Pag-IBIG's Property Finder tool for a more convenient search experience. Tip: If possible, inspect the property or have someone do it for you before placing a bid. Since these are sold as-is, where-is, checking the condition helps you make an informed investment. Step 2: Register for the Bidding Process To participate in the auction, you need to be a registered bidder first. Registration is free, and you can do it online. Just prepare all the required documents, including one valid ID with signature, a selfie photo showing your valid ID card, and an active mobile number, and fill out the needed information for verification. Once verified, Pag-IBIG will assign you a Buyer ID Number, which will serve as your unique identifier for all future bidding activities. Step 3: Join the Auction Auctions are now conducted online on scheduled dates, making it convenient for OFWs to participate from anywhere in the world. The highest bidder wins the property. Bid only within your financial capacity and factor in potential renovation costs. Review the bid terms and deadlines carefully to avoid disqualification. Step 4: Post-Auction Requirements If you win the bid, congratulations! You'll need to complete the following next steps: Submit the required documents for the sale to proceed. Choose your preferred payment option: Cash – full payment within one month Short-term installment – payable within 12 months Pag-IBIG housing loan – payable for up to 30 years, subject to approval Once payment is completed, Pag-IBIG will assist in processing the transfer of ownership, including the issuance of a new land title in your name. Be prepared to pay for transfer taxes, registration fees, and documentary stamp tax, which are standard in real estate transactions. Should you invest in Pag-IBIG foreclosed properties? For OFWs and anyone seeking affordable real estate, Pag-IBIG foreclosed properties present a smart investment and a cost-effective way to own property. Aside from the lower-than-market prices, Pag-IBIG offers various financing options, making it easier for Filipinos to achieve their dream of owning a home. With a bit of research and preparation, this can be your ticket to finally owning the home you've worked so hard for. Visit the official website of Pag-IBIG to learn more.
GMA Network
27-05-2025
- Business
- GMA Network
Pag-IBIG Fund says assets grew to P1.1T as of end-March 2025
The Home Development Mutual Fund or Pag-IBIG Fund on Tuesday said its total assets surged to P1.1 trillion as of the end of March 2025. In a news release, Pag-IBIG said its asset growth underscores its 'continued financial strength" which "reaffirms its position among the country's leading government financial institutions.' The Fund's assets grew by P34.27 billion from P1.069 trillion as of the end of 2024, on the back of sustained expansion of its loan portfolio, prudent investments, and robust member savings. Pag-IBIG said it booked an equity base of P776.52 billion in the first quarter, which represents the combined value of members' equity, retained earnings, and other reserves. It added that its strong financial footing enables the agency to steadily grow the value of its members' savings while continuing to provide accessible loan programs to its 16.55 million active members. Moreover, Pag-IBIG said it maintained P21.29 billion in cash and cash equivalents and expanded its investment portfolio to P133.06 billion, 'demonstrating its strategic focus on liquidity and income-generating placements.' It said that its other major asset components include property and equipment, investment properties, and various non-current assets, all pointing to a well-diversified and resilient financial structure. In the first quarter of 2025 alone, Pag-IBIG said it disbursed P30.22 billion in housing loans, while total membership savings collections reached P40.4 billion, a 41% increase from the P28.76 billion collected during the same period last year. The Fund added it also saw a strong performing loans ratio of 94.13%, 'reflecting sound portfolio management and sustained borrower discipline.' —VAL, GMA Integrated News
GMA Network
22-05-2025
- Business
- GMA Network
Pag-IBIG: P30.22B in home loans released in Q1 2025
The Home Development Mutual Fund or Pag-IBIG Fund said Thursday it has released P30.22 billion in home loans in the first quarter of 2025. In a news release, Pag-IBIG said the amount was 8% higher or over P2 billion more than the P28.09 billion in housing loans disbursed during the same period in 2024. Loan releases in the January to March period also helped finance 20,315 Pag-IBIG members' acquisition of their own homes. "The strong performance of Pag-IBIG Fund in the first quarter underscores its continued commitment to providing affordable housing opportunities for Filipino families," said Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar, who chairs the 11-member Pag-IBIG Fund Board of Trustees. "As we sustain progress in home financing alongside the growing momentum of the Pambansang Pabahay para sa Pilipino (4PH) Program, we heed President Ferdinand R. Marcos Jr.'s call to uplift the lives of our fellow Filipinos by ensuring access to dignified shelter," said Acuzar. Pag-IBIG Fund CEO Marilene C. Acosta, meanwhile, also highlighted Pag-IBIG's vital support for the government's flagship 4PH Program—through which the agency provides financing to developers, contractors and local government units to build housing projects, as well as to individual buyers of 4PH units. In the first quarter alone, the agency said it released P987.91 million under the program, benefiting 669 members and their families who now own homes. "We are grateful to our members and stakeholders for their continued trust and support in our programs," said Acosta. "Our performance in the home loan front demonstrates not only our financial strength, but also our unwavering commitment to make homeownership more accessible for Filipino workers. Pag-IBIG Fund remains focused on providing affordable and reliable housing programs that help build stable and dignified lives for our members," added the Pag-IBIG chief. — VDV, GMA Integrated News
