Sun, 08 Dec 2019

Capiz Pag-IBIG members avail P54-M housing loans

Philippine Information Agency
17 Jul 2019, 22:38 GMT+10

ROXAS CITY, Capiz, July 17 (PIA) -- The Pag-IBIG Fund was able to release more than P54-million housing take out for Capiz in the first six months of 2019.

Capiz Pag-IBIG Fund information officer Jose Severino Jr. said that from January to June this year, a total of P54,570,768.05 was released by their agency to its members who availed of the housing loan.

The more than P54 million housing loan for Capiz members is part of the P37.07 billion in home loans in the first half of 2019 released to its members nationwide, which was the highest amount released by the agency for any January to June period.

In a press release of said agency, the Pag-IBIG Fund released loan has an increase of P4.37 billion or 13 percent compared to the P32.70 billion released during the same period in 2018.

"The amount financed the acquisition and construction of 41,746 homes for Pag-IBIG Fund members, also a record-high for the first half of the year, and is four percent higher than the 40,094 homes financed during the same period last year," the report said.

Secretary Eduardo D. del Rosario, who heads both the Housing and Urban Development Coordinating Council (HUDCC) and the Pag-IBIG Fund Board of Trustees, said "Pag-IBIG Fund's performance in the first six months of 2019 stands out as the best so far. Bigger loan releases and increasing number of borrowers mean that more and more Filipino workers are being helped by Pag-IBIG Fund achieve their dreams of home ownership."

Del Rosario added that "this is why Pag-IBIG Fund remains as a major player in President Rodrigo Roa Duterte's drive to uplift the lives of Filipino families through sustainable social development programs and access to decent and affordable housing."

Per record, the Pag-IBIG Fund home loans from January to June this year totaled P58.77 billion to finance homes for 52,257 members to include the amount released and P21.7 billion pending for takeout to 10,511 members, which proceeds of which are ready for release upon submission by borrowers of post-approval requirements.

Meanwhile Severino said that their office is ready to accommodate housing loan application of its members.

He said that while the member is required to have at least 24 months contribution to avail of the housing loan, the member is also allowed for a lump sum or 12-month one-time payment of contribution.

"For the new members, they may pay the 24 months lump sum payment of contribution to avail of the housing loan program," Severino said. (LTP/JBG/PIA6-Capiz)

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