The Pag-IBIG Fund is encouraging more Filipinos to take advantage of its limited-time promotion, which extends the subsidized three-percent interest rate for up to 10 years to the first 30,000 qualified buyers under the government’s Pambansang Pabahay para sa Pilipino (4PH) Program.
Grace C. Camaganacan, manager of the Business Development Department–Mindanao of the Pag-IBIG Fund, said the promo is available to qualified members who avail themselves of 4PH housing projects nationwide, allowing them to lock in the lower interest rate beyond the standard five-year repricing period.
“So kung makaapil pa gyud sa among promo ug makavail of the promo for the first 30 members na maka-avail sa 4PH housing project sa all over the Philippines pwede pa nang ang five years mahimo siyang 10 years ang repricing. So ang mahimong interest rate for the next 10 years kung maapil ka didto sa 30,000 is 3% na siya, dili na siya mag-change,” Camaganacan said during the Davao Peace and Security Press Corps media forum.
She said the subsidized rate is significantly lower than the Pag-IBIG Fund’s regular end-user financing rates.
“So, kinsa ba ang pwedeng mag-avail anang 3%? Those Filipino workers who are members of Pag-IBIG Fund. I would assume that all Filipino workers are members of the fund kasi automatic dapat na siya,” she said.
Camaganacan also highlighted the affordability of existing 4PH projects, particularly Peoples Ville in Davao City, which remains one of the socialized housing developments financed by the Pag-IBIG Fund.
“So right now, ang price ni socialized housing program, si Peoples Ville, kanang gina-take out, gina-finance ni Pag-IBIG Fund right now, is ang value ana is naa sa P1.45 million,” she said.
She explained that although the Department of Human Settlements and Urban Development (DHSUD) allows the Pag-IBIG Fund to finance horizontal housing projects worth up to P1.8 million, Peoples Ville continues to offer more affordable units.
According to Camaganacan, the lowest monthly amortization for a financed Peoples Ville unit is P2,331.89, with a required gross monthly income of P13,325.
“So ang pinakamababa so far na nagkaroon og amortization sa mga na-take out na or na-finance na ni Pag-IBIG, is ang amortization niya P2,331.89 with a gross monthly income requirement of P13,325,” she said.
Camaganacan added that another expanded 4PH project is now available at Deca Panabo Home in Panabo City, where housing units are priced at P950,000.
She said the project carries a minimum monthly amortization of P4,005.24, with a required gross monthly income of P11,443.54 under the subsidized three-percent interest rate.
“For those na nakakuha, makaingon gyud ko nga privilege kaayo ang mga taga-Davao nga nagkaroon ta og 4PH project here,” Camaganacan said.
She encouraged more Pag-IBIG Fund members to take advantage of the government’s affordable housing initiatives while the promotional interest rate remains available.
