CEBU CITY, Cebu (PIA) — The Home Development Mutual Fund (HDMF) or Pag-IBIG Fund released P129.7 billion for 90,640 housing units in 2024 through the housing loan program, a three percent increase from 2023.
Of the total, Visayas has a share of P15.74 billion, financing 10,598 housing units or 12 percent of Pag-IBIG Fund’s overall housing loan.
According to Pag-IBIG Fund deputy chief executive officer of Operations Cluster, Benjamin R. Felix Jr., Visayas has logged the highest achievement rate among the regions nationwide.
“Lahat po ng housing hubs, Visayas po ang may pinakamataas na achievement ng target nila,” Felix said.
(Among the housing hubs nationwide, Visayas achieved the highest achievement rate of their target.)
Felix also disclosed that Pag-IBIG Fund’s performing loans ratio reached 93.72 percent nationwide.
In Visayas, the performing loans ratio stands at 92.62 percent, which means that housing loan borrowers in the region pay their payments properly and on time, explained Felix.
Pag-IBIG Fund also reported a 4 percent growth in its membership in 2024, with 16.58 million active members compared to 15.93 million in 2023.
Felix said Visayas region accounted for 11 percent of the nationwide membership, or 1.83 million.
Financial security
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta emphasized the Pag-IBIG Fund’s broader mission to boost the financial security of Filipinos.
“Pag-IBIG Fund is not just about providing loans or savings accounts,” Acosta said.
“It’s about supporting Filipino families in achieving their dreams of financial security and homeownership. With the trust of our members and stakeholders, we will continue to build a stronger, more inclusive future,” she added.
Rogel Patangan, 48, from Poblacion Norte, Maria, Siquijor, said being a Pag-IBIG Fund member has a positive impact on his financial security and planning.
“Ni-apply ko og regular loan sa Pag-IBIG Fund tungod kay kampante ko sa ilang pamaagi ug serbisyo… Mao nga nalipay ko nga naa’y Pag-IBIG kay dali ang proseso ug serbisyo garantisado,” said Patangan.
(I applied for a loan with the Pag-IBIG Fund because I trust their process and services. I am happy with Pag-IBIG because the application process is fast, and their services are guaranteed.)
Wilfredo S. Necesario, 48, who works as a security guard, said he is happy with the quick and efficient process of securing Pag-IBIG Fund’s salary loan.
“Paspas (ang proseso). Napulo ra ka adlaw. Ikaduha na man ko nga naka-loan,”Necesario said.
(The process is fast. It only took ten days. This is my second time applying for a loan.) (MSH/PIA Cebu)
