4PH Pambansang Pabahay borrowers to benefit from program subsidies - DHSUD, Pag-IBIG Fund execs

by Info @Brand Zone | May 7, 2024

The Pambansang Pabahay Para sa Pilipino Housing (4PH) Program - the government’s flagship housing project provides affordably-priced homes and lower monthly amortization costs through various subsidies for Filipino workers who are members of Pag-IBIG Fund, the Department of Human Settlements and Urban Development (DHSUD) together with Pag-IBIG Fund executives announced last May 1, Labor Day.

“Our housing agenda aims to ensure that all Filipino workers have the means to accessible and affordable housing opportunities. Through the subsidies extended to beneficiaries of the 4PH program, prices of homes and monthly amortization costs will be significantly reduced. This is in line with President Marcos’ Philippine Development Plan 2023-2028 to address the country’s housing needs.,” said Secretary Jose Rizalino L. Acuzar, who leads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Subsidies on Price and Interest

The housing czar said that housing units to be sold under the Pambansang Pabahay (4PH) program will be more economically priced than other residential units in the market in keeping with the price ceiling imposed by the government for affordable housing. 

Housing loan borrowers who will avail of units under the Pambansang Pabahay (4PH) program through a Pag-IBIG Housing Loan will enjoy an even lower interest rate than what Pag-IBIG Fund currently provides, which is already considered the lowest in the market. DHSUD will subsidize up to 5% of the loan's outstanding interest rate, allowing borrowers to pay a reduced interest rate on their loans. This will ensure that Filipino workers can now fulfill their homeownership dreams, especially those with limited financial resources.

Focus on Sustainability and Communal Spaces

The Pambansang Pabahay (4PH) program also showcases green features, providing communal open spaces and gardens, as well as amenities such as swimming pools and basketball court ensuring that residents will have comfortable and improved living conditions.

Acuzar emphasized that future homeowners of the Pambansang Pabahay housing units will experience a well-designed and self-sufficient community through a township model. This framework allows residents to live within cities with access to commercial spaces, educational institutions, healthcare centers, and other essential infrastructure.

“Interested Filipino workers can easily avail of the Pambansang Pabahay (4PH) program through their Pag-IBIG Fund membership by applying for a special Pag-IBIG housing loan under 4PH, and by coordinating with their local government housing board so that they may be listed under the 4PH program’s pre-identified applicants. Our work to address the housing backlog is truly a coordinated effort by the national government, the local government units, the housing sector, private developers, and the community,” Acuzar added. 

Pag-IBIG membership as key to homeownership

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta expressed full support for the program and invites its members to take advantage of the Pambansang Pabahay (4PH) program’s benefits.

“Pag-IBIG Fund fully supports the DHSUD in its proactive approach to addressing housing affordability challenges by helping both property developers and buyers. Our 4PH-Direct Developmental Loans provide the program proponents and property developers with financial means to develop housing projects and affordable yet quality housing units for Filipino workers. Interested buyers, on the other hand, can avail of the Pag-IBIG Pambansang Pabahay (4PH) Housing Loan and enjoy interest and amortization subsidies and borrower-friendly loan terms, assuring them of affordable monthly payments within their budget. For the program to be sustainable, it is vital for our buyer-beneficiaries to pay their amortizations and real property taxes on time, as well maintain the upkeep of the township. As aptly stated by Sec. Acuzar, the communities play a key role in solving the housing backlog,” Acosta said.

PBBM lauds Pag-IBIG for record-high P48.76B dividends declared for members in 2023

ni Info @Brand Zone | February 29, 2024

President Ferdinand R. Marcos Jr. lauded Pag-IBIG Fund anew as the agency declared P48.76 billion in dividends to be distributed to its members as earnings on their savings in 2023, the highest in its 43-year history.

For 2023, Pag-IBIG Regular Savings earned an annual dividend rate of 6.55 percent while the Modified Pag-IBIG 2 (MP2) Savings gained an annual return rate of 7.05 percent, both record-highs since the pandemic. The announcement of the dividend rates on the members' savings of the agency were among the highlights of the Pag-IBIG Fund Chairman’s Report for 2023, where the president spoke before a gathering of agency members, partners and stakeholders at the PICC Reception Hall in Pasay City, Tuesday (February 27).

“If I am to sum up your report, the splendid things that Pag-IBIG has done during what is, unquestionably, a banner year, then, without a doubt it is clear that “it is a labor of love,” the President said.

“But you and I all know that we are far from declaring mission accomplished. We have inherited a huge housing backlog that must be reduced. The challenge before us today, including those in the Pag-IBIG, the housing sector, and the local government units, is to translate these statistics into actual homes that people can live in. These homes shall be happy places where our kababayans can raise their families, spend the best years of their lives — creating joyful memories with those that they love,” the chief executive added.

Pag-IBIG Fund posted another banner year in 2023 as the agency’s net income reached a record high P49.79 billion, a 12% increase from the P44.50 billion the year prior. 

The agency also reported several record high figures for the year, with home loans reaching P126.04 billion enabling 96,848 of its members gain new or better homes, total membership savings collected amounting to P89.26 billion, and cash loan releases amounting to P59.32 billion aiding over 2.65 million members with their financial needs. The agency ended the year with total assets at its highest, amounting to P925.61 billion.

Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD) who also heads the 11-member Pag-IBIG Fund Board of Trustees, meanwhile, said that the agency’s highest dividend rates since the pandemic are the result of the agency’s record-high net income coupled with the highest dividend payout ratio approved by the Pag-IBIG Board. 

Acuzar said that while the agency is required to return only at least 70 percent of its annual net income as dividends on the savings of its members, the Pag-IBIG Board approved a record-high 97.86 percent payout ratio, resulting in a record-high dividend amount of P48.76 billion.

Pag-IBIG home loans reach record-high P126B in 2023; nearly 100,000 members with new homes

by Info @Brand Zone | February 12, 2024

Pag-IBIG Fund released a record-high P126.04 billion in home loans to finance the housing units of 96,848 members in 2023, its top officials announced February 08 (Thursday).

The amount of housing loans released in 2023 grew by P8.19 billion or 7 percent compared to the P117.85 billion released last year. The amount was able to finance 96,848 housing units and now stands as the highest amount of home loans released by the agency in a single year.

“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.

Acuzar further stated that out of the total housing units financed by the agency last year, 11,257 or 12% were socialized housing units which are now owned by members from the minimum-wage and low-income sectors.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, noted that the agency has maintained its low interest rates despite the strong demand for the agency’s home loans and amid prevailing high market rates.

“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.