Pag-IBIG Offers Discounted Rate to First 11,000 4PH Borrowers

Home Development Mutual Fund, commonly known as Pag-IBIG Fund, is set to roll out its housing loan for the first 11,000 borrowers under the expanded Pambansang Pabahay Para sa Pilipino (4PH) program.

- By MARCO LUIS BEECH

Beginning in October, Pag-IBIG will roll out a subsidized 4.5 percent housing loan rate for qualified members seeking to purchase homes worth up to P1.8 million.

The program will provide the housing loan rate to the first 10,000 locally employed members and 1,000 overseas Filipino workers, with the special interest rate fixed for the initial three years of the loan.

Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling said the agency is expanding access to affordable home financing by offering a special rate, calling it an important step in ensuring affordable and long-term homeownership.