Latest news with #JoseRizalinoL.Acuzar
Filipino Times
21-05-2025
- Business
- Filipino Times
Pag-IBIG Fund Home Loan releases reach P30B in first quarter of 2025
Pag-IBIG Fund released P30.22 billion in home loans from January to March 2025, an 8 percent increase—or more than P2 billion higher—than the P28.09 billion disbursed during the same period in 2024, officials announced Wednesday, May 21. '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 L. Acuzar, who also 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.' Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, said the loan releases helped 20,315 members acquire their own homes during the first three months of the year. Acosta also highlighted Pag-IBIG Fund'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 released P987.91 million under the program, benefitting 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,' Acosta said. '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.'
Filipino Times
02-05-2025
- Business
- Filipino Times
Pag-IBIG Fund, NHA, SHFC partner to build nearly 8,000 homes under 4PH program
The Pag-IBIG Fund, National Housing Authority (NHA) and the Social Housing Finance Corporation (SHFC) signed an agreement on Labor Day to construct almost 8,000 housing units in major cities as part of the government's flagship Pambansang Pabahay para sa Pilipino or 4PH Program. Under the agreements, Pag-IBIG Fund will provide project financing to support the construction of housing developments by NHA and SHFC in strategic locations in Valenzuela City, San Fernando, Pampanga, Davao City and Manila. 'We are happy to report that the Pag-IBIG Fund, NHA and SHFC continue to forge strong partnerships in support of the 4PH Program's goal of providing quality yet affordable homes, especially to underserved families,' said Secretary Jose Rizalino L. Acuzar, who chairs the 11-member Pag-IBIG Fund Board of Trustees and heads the Department of Human Settlements and Urban Development (DHSUD). 'In line with President Ferdinand Marcos Jr.'s directive to close the country's housing gap, the DHSUD's key shelter agencies remain united in our mission to ensure that every Filipino family has access to decent and affordable housing.' The new housing projects include a medium-rise condominium with 372 units in Valenzuela City through NHA, as well as mid- and high-rise developments through SHFC: 3,440 units in San Fernando, Pampanga; 1,200 units in Calinan District, Davao City; 2,135 units in Tondo, Manila; and 425 units in Sta. Mesa, Manila. All these projects will be financed through Pag-IBIG Fund's Direct Developmental Loan Program, a facility specially designed by the agency to support the implementation of the 4PH Program. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the agency is fully aligned with the administration's housing vision and emphasized Pag-IBIG Fund's role in both institutional and individual housing financing. 'This initiative is part of our unwavering commitment to uplift the lives of Filipino workers by providing them with access to safe, decent, and affordable homes,' Acosta said. 'Through our continued collaboration with NHA and SHFC, we are helping build inclusive communities and contribute to the broader goal of national development.' Through its partnership with shelter agencies, Pag-IBIG Fund will not only finance the construction of these projects but also offer end-user housing loans under affordable terms for eligible beneficiaries in line with 4PH guidelines.
Filipino Times
01-05-2025
- Business
- Filipino Times
Pag-IBIG raises cash loan entitlement, eases access for members
Pag-IBIG Fund has upgraded its popular Multi-Purpose Loan (MPL), enabling members to borrow more, qualify sooner, and enjoy increased flexibility, affirming its dedication to supporting the financial needs of Filipino workers. Under the improved Pag-IBIG MPL, members can now borrow up to 90% of their total Pag-IBIG Regular Savings—12.5% more than the previous 80%. For members with upgraded Regular Savings, this means they can secure even larger loans, as loan entitlement is directly based on their total savings. This increase ensures members have greater access to financial resources when needed most. These enhancements—higher loan amounts and shortened eligibility—also apply to other Pag-IBIG Short-Term Loan programs, specifically the Health and Education Loan Programs (HELPS) and the Calamity Loan. In addition to higher loan amounts, eligibility requirements have also been enhanced. Members now qualify after contributing for just 12 months, down from the previous 24-month requirement. This reduction allows newer members to swiftly access funds for their immediate financial needs. Meanwhile, members with existing loans under the previous guidelines may still apply for an additional loan under the enhanced Pag-IBIG MPL, should they require extra funds as a result of the increased loan entitlement. The enhancements shall become available to members starting May 16. 'We are continually enhancing our loan programs in response to what our members need most,' said Secretary Jose Rizalino L. Acuzar, Chairperson of the 11-member Pag-IBIG Fund Board of Trustees and head of the Department of Human Settlements and Urban Development. 'These latest improvements are aligned with President Marcos' directive to deliver affordable and accessible financial services to Filipino workers. By offering bigger loans and reducing the eligibility period, we are making sure that more members can benefit quickly and effectively from the MPL.' The upgraded Pag-IBIG MPL also introduces a new one-year repayment term, complementing the existing two- and three-year options. This additional term provides greater flexibility, allowing members to tailor their loan repayments according to their individual financial capacity. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta highlighted that amid these enhancements, the loan remains affordable, with a competitive monthly interest rate of only 1.4583%. Additionally, the majority of the interest earned from MPL repayments is returned to members as dividends, further benefiting them. 'Our enhanced MPL reflects Pag-IBIG Fund's commitment to financial inclusivity and responsiveness to the needs of our labor sector,' Acosta said. 'We know members rely on these loans to start a small business, pay for tuition fees, cover medical expenses, undertake minor home improvements, or purchase furniture and other necessities. These changes mean our members can now more easily achieve their financial goals with greater ease and convenience.' In 2024 alone, Pag-IBIG Fund released P70.3 billion in cash loans to more than 3.2 million members—the highest amount disbursed in a single year—underscoring the strong and growing trust of members in the program and the agency. Building on this momentum, Pag-IBIG Fund aims to assist an estimated 3.6 million members in 2025, with projected cash loan releases reaching P95.3 billion, as it continues to expand its reach and deliver accessible financial support to more Filipino workers. 'We strive to continuously evolve and respond effectively to the changing financial needs of our members,' Acosta added. 'With these MPL enhancements, Pag-IBIG Fund further solidifies its role as a reliable partner in empowering Filipino workers toward greater financial stability and peace of mind.'
Filipino Times
23-04-2025
- Business
- Filipino Times
Pag-IBIG Fund offers cash prizes to MPL borrowers, company representatives in new promos for 2025
Pag-IBIG Fund has launched two new raffle promos aimed at increasing members' awareness of the benefits and favorable terms of the Pag-IBIG Multi-Purpose Loan (Pag-IBIG MPL), while encouraging greater employer engagement — further strengthening its efforts to provide timely financial support to members nationwide. As part of its initiatives to assist more Filipino workers in addressing their immediate financial needs through the Pag-IBIG MPL, the agency introduced the 'Loan to Win!' and 'Hatid Pana-Loan!' raffle promos, which offer cash prizes as additional incentives for borrowers and employer representatives. 'In 2024 alone, our Pag-IBIG MPL program assisted more than 3 million members with over ₱70 billion in cash loans. This highlights the Pag-IBIG MPL's role as a dependable source of financial assistance for Filipino workers in times of need,' said Secretary Jose Rizalino L. Acuzar, head of the Department of Human Settlements and Urban Development and chairperson of the 11-member Pag-IBIG Fund Board of Trustees. 'In line with President Marcos' directive to provide accessible and affordable financial services to our citizens, we are launching these promos to assist even more members while recognizing the efforts of employer representatives who actively support their employees' loan applications,' Acuzar added. Running from April to December 2025, the 'Loan to Win!' raffle promo gives Pag-IBIG members with an approved Pag-IBIG MPL a chance to win cash prizes. Each approved loan during the promo period automatically earns one raffle entry, with bonus entries awarded to first-time Pag-IBIG MPL borrowers, applications submitted via Virtual Pag-IBIG for Employers, or loans worth ₱50,000 or more. Over 250 winners will be selected in preliminary draws, leading up to a grand prize of ₱50,000. Meanwhile, the 'Hatid Pana-Loan!' raffle promo rewards Fund Coordinators and Employer Representatives who actively help employees secure a Pag-IBIG MPL. Employer representatives earn one raffle entry for every five approved Pag-IBIG MPL applications they facilitate, with additional entries awarded for applications from first-time borrowers or those submitted via Virtual Pag-IBIG for Employers. Winners in this promo also stand a chance to receive cash prizes, including a grand prize of ₱50,000. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta expressed confidence that the raffle promos will help even more members benefit from the Pag-IBIG MPL, especially by making them more aware of the program's affordability and friendly payment terms. 'Through these raffle promos, we hope to empower our Fund Coordinators, Employer Representatives, and especially our members by highlighting the affordability and convenience offered by the Pag-IBIG MPL,' Acosta said. 'More than just rewards, these initiatives emphasize that the Pag-IBIG MPL is a practical and reliable financial lifeline that benefits members directly. Every loan availed generates earnings for Pag-IBIG Fund, contributing to higher dividends for our members. Simply put, when members borrow from Pag-IBIG Fund, their repayments ultimately benefit them through dividends,' she added. For complete promo mechanics and draw schedules, visit: · Loan to Win: Hatid Pana-Loan: Members may also follow the official Pag-IBIG Fund Facebook page for updates.
Filipino Times
14-02-2025
- Business
- Filipino Times
Pag-IBIG Fund helps 90,000 members gain homes with P130B in housing loans released in 2024
More Filipino workers realized their dream of homeownership in 2024 as Pag-IBIG Fund released P129.73 billion in home loans to finance the purchase and construction of 90,616 homes for its members, officials announced Wednesday, Feb. 12. 'Pag-IBIG Fund has once again demonstrated its commitment to helping Filipino workers secure their own homes,' said Secretary Jose Rizalino L. Acuzar, head of the Department of Human Settlements and Urban Development (DHSUD) and chairperson of the 11-member Pag-IBIG Fund Board of Trustees. 'Our achievements in home financing this past year underscore our unwavering pledge to make homeownership accessible and affordable for our members. As we gain momentum with the Pambansang Pabahay para sa Pilipino (4PH) Program, we continue to heed President Marcos's directive to provide stronger social protection and improve the lives of more Filipinos.' Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta emphasized that the agency's 2024 milestones included financing for socialized housing units, as well as P20.17 billion in approved development loans to support the construction of nearly 18,000 4PH housing units, thereby making homeownership even more attainable for low-income earners. 'In 2024, one in every 10 homes financed through Pag-IBIG was a socialized housing unit, helping 9,082 minimum-wage earners secure a home of their own,' Acosta said. 'We also approved funding for the construction of 17,791 4PH housing units, which will provide more Pag-IBIG members the opportunity to own a home. These are significant steps toward ensuring that Filipino workers, especially those with modest incomes, have access to decent and affordable housing.' She reaffirmed the agency's commitment to ensuring that members have access to affordable home financing under the friendliest terms, thereby giving them greater opportunities to secure their own homes. Through Pag-IBIG Fund's Housing Loan program, members can build their own homes, buy residential lots, purchase ready-to-occupy units, buy out existing home loans from banks, or acquire Pag-IBIG-acquired assets at discounted rates. They also have the option to buy brand-new homes under the 4PH Program, which offers subsidized interest rates. 'We are devoted to enabling every Filipino worker to save and achieve their dream of homeownership,' Acosta added. 'Our members can trust that we will continue to provide the benefits they deserve, so that more of our fellow Filipinos can build better lives for their families.'
