STATE-RUN Home Development Mutual (Pag-IBIG) Fund released nearly P52 billion in home loans in the first half of this year, marking another record-high for the agency.
Pag-Ibig Fund’s home loan releases amounted to P51.96 billion from January to June this year, eclipsing the agency’s previous record of P44.34 billion in the same period last year.
Pag-IBIG Fund Officer-In-Charge Vice President for Loans Originations Group Mary Annette R. Samano said the home loans they disbursed in the first semester financed a total of 47,184 housing units in the same period.
“For these six months of 2022, we posted a P51.96 billion total takeout. Again it’s a history for the Pag-IBIG Fund for the first six months of the year,” Samano said during the BusinessMirror Coffee Club webinar on Thursday.
Last year, Pag-Ibig Fund surpassed the P100-billion mark in total home loan releases even amid the Covid-19 pandemic.
For 2021, Pag-IBIG Fund released home loans worth P97.28 billion. And, with interim releases for loans for house construction and renovation amounting to P3.5 billion, total releases have reached P100.8 billion—the highest amount ever released by the agency in a year.
The amount disbursed last year grew 58 percent compared to the P63.75 billion released in 2020 and has surpassed by 16 percent the P86.74 billion released in 2019, the agency’s previous record-high.
Of the total home loan releases in the first half of this year, Samano said socialized housing loans for low-wage earners comprised P3.67 billion or 7.07 percent.
These socialized housing loans financed 8,471 units, equivalent to 17.95 percent of the total.
However, the amount of socialized housing loans released by the agency was down by 21.2 percent than the P4.66 billion disbursed in the same period last year.
Last year, socialized housing loans released by Pag-IBIG Fund hit P9.71 billion, surging by 37 percent from P7.1 billion in 2020.