Metro Manila (CNN Philippines, January 18) — The state-owned Home Development Mutual Fund on Wednesday announced it released a record-high ₱117.85 billion in home loans last year.
Commonly known as the Pag-IBIG Fund, the agency said the amount is 21% or ₱20.57 billion higher than the ₱97.28 billion released in 2021.
It added that the amount financed the acquisition and construction of 105,212 homes of members, which is an 11% jump 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 Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar, who also heads the Pag-IBIG Fund Board of Trustees.
For her part, Pag-IBIG Fund Chief Executive Officer Marilene Acosta noted that this was the first time that the agency has financed over 100,000 housing units in a single year.
She added that 18,657 or 18% of the total housing units financed by the Pag-IBIG Fund last year were socialized housing units now owned by members earning minimum and low wages.
