Pag-IBIG home loans hit P17.2BBy The Manila Timeshome/Business/Top Business/Pag-IBIG home loans hit P17.2BTHE Home Development Mutual Fund (Pag-IBIG Fund) reported on Monday that it had released P17.22 billion in home loans in the first quarter of 2019, a P3.12-billion or 22-percent increase from P14.1 billion in the same period last year. That amount, Pag-IBIG explained, financed the acquisition and construction of 19,696 homes for Pag-IBIG members — also a record-high for the first quarter of a year — which is 13 percent higher than the 17,398 funded in the same period in 2018. “Pag-IBIG Fund’s performance in the first quarter 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 dream of homeownership,” said Secretary Eduardo D. del Rosario, who heads both the Housing and Urban Development Coordinating Council and the Pag-IBIG Fund board of trustees. In total, Pag-IBIG Fund home loans from January to March totaled P29.25 billion to finance homes for 30,762 members.

Source: Manila Times May 20, 2019 16:18 UTC