PAGADIAN CITY (PIA) — The Home Development Mutual Fund (HDMF), also known as PAG-IBIG, has successfully raised approximately P2.3 billion in mandatory regular savings and P0.96 billion in voluntary savings from its members across Zamboanga Peninsula. This milestone highlights PAG-IBIG’s continued dedication to serving its members with a range of services, including savings programs and housing loan offerings.
The 24th episode of Kapihan sa Bagong Pilipinas on November 12 featured insights from key Pag-IBIG officials headed by Pagadian Branch Head Gregorio Luba, Jr. The discussion covered the essential features of Pag-IBIG’s services, with a special focus on provident savings and home financing programs.
One key highlight of the session was the ongoing Pambansang Pabahay Para sa Pilipino (4PH) program, an initiative under President Ferdinand Marcos Jr.’s administration. The program aims to make housing more affordable through price subsidies, reduced interest rates, and amortization support from local government units (LGUs). Pag-IBIG is targeting the completion of 3.2 million housing units under 4PH by 2028.
Branch Head Gregorio Luba, Jr. encouraged members, especially the younger generation, to take advantage of Pag-IBIG’s housing loan offerings despite the current economic challenges.
“It remains practical to avail housing loans from Pag-IBIG; the interest rate we offer is the lowest in the entire housing industry in the country,” Luba emphasized.
Marketing Assistant Rey Joseph Lerias also pointed out the affordability of Pag-IBIG’s housing loan programs compared to renting. “If we typically rent small rooms for around P3,000 to P5,000 per month, members can own a home with monthly amortizations as low as P2,000 to P2,800,” Lerias explained.
In addition to housing loans, Pag-IBIG has also rolled out relief programs for members affected by Tropical Storm “Kristine.” These include calamity loans of up to 80% of a member’s loan balance at a 5.95% interest rate for loan terms of 2 to 3 years. These loans are available to members whose residences or workplaces are located in areas declared under a state of calamity.
Other relief measures include housing loan insurance for Pag-IBIG mortgaged properties, a one-month housing loan payment moratorium for affected members, and convenient access to Pag-IBIG services through Lingkod Pag-IBIG on Wheels (LPOW). (JPA/JFT/PIA9-Zamboanga City)
