THE Home Development Mutual Fund or Pag-IBIG Fund said that they were able to get a record high of P126.04 billion as far as home loans are concerned this 2023.

Pag-IBIG Fund said that the amount of home loans had helped finance 96,848 housing units for their members last year.

Also, the housing loans that had been released in 2023 grew 7%, or P8.19 billion, from P117.85 billion in 2022.

“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,” said Secretary Jose Rizalino Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and chairs the 11-member Pag-IBIG Fund Board of Trustees.

Meanwhile, Acuzar noted that some 100,000 housing units that were financed by the agency last year, it showed 11,257, or 12%, were socialized housing units. 

They are now owned by members of the minimum-wage and low-income sectors.

Likewise, Pag-IBIG Fund chief executive officer Marilene Acosta noted that the agency has maintained its low interest rates, despite the strong 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 them even more affordable,” Acosta said.