Pag-IBIG doubles housing subsidy period to 10 years

The Home Development Mutual Fund, commonly known as Pag-IBIG Fund, will extend its special three percent housing loan rate for qualified borrowers under the Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program, doubling the standard five-year subsidized period.

- 

It will extend the loan rate for the first 30,000 borrowers, and the period to 10 years, in a move to make home financing affordable and accelerate the administration’s housing agenda.

Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling, who chairs the Pag-IBIG board of trustees, said the extension of the subsidized rate would allow borrowers to enjoy rates much lower than prevailing market rates for a longer period.