Pag-IBIG Fund will grant its special 3% housing loan rate for the first 10 years of the loan term, double the standard five years for the subsidized rate, to the first 30,000 eligible borrowers under its housing loan for the Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program.
The offer is part of Pag-IBIG Fund’s response to the call of Secretary Jose Ramon P. Aliling to further make home financing affordable under the Expanded 4PH. The extended fixed rate is expected to significantly reduce monthly payments for early borrowers and help accelerate the administration’s housing agenda under President Ferdinand R. Marcos Jr.
“In line with the directive of President Marcos, we have enhanced the Expanded 4PH Program to be more responsive to the needs of Filipino workers. Aside from covering both house and lot and condominium units that members can purchase at a special rate for the first five years of the loan term, we are extending the effective period of the subsidized rate to 10 years for the first 30,000 borrowers. This means they will enjoy the 3% rate, already much lower than prevailing market rates, for a full decade, making homeownership even more affordable,” said Secretary Jose Ramon P. Aliling, head of the Department of Human Settlements and Urban Development and chair of the Pag-IBIG Fund Board of Trustees.
Aliling said doubling the fixed rate period allows early borrowers to enjoy lower monthly payments and stable amortizations for longer, keeping housing affordable under the Expanded 4PH Program. Ordinarily, the 3% rate applies only during the first five years of the loan term.
First-time homebuyers, particularly those earning less than 47,856 pesos per month in the National Capital Region and less than 34,686 pesos outside NCR, may qualify for the subsidized 3% rate. All overseas Filipino workers, regardless of income, also qualify. Under this limited offer, early borrowers will enjoy the rate for 10 years, enabling them to save more and enjoy predictable, affordable amortizations for longer.
The loan may be used to purchase socialized house and lot and condominium units under accredited Expanded 4PH projects, priced up to 850,000 pesos and 1.8 million pesos, respectively. The program offers up to 100,000 pesos in additional financing for home improvements, such as utility connections and home fixtures, and provides a 100 percent loan-to-value ratio, meaning no cash equity is required.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta emphasized the deeper impact of the 10-year fixed rate for members.
“As we carry out our mandate to uplift the lives of our members and support the Marcos administration’s housing thrust, this program offers more than just homes, it offers hope. With significantly lower monthly payments for a longer period, more Filipino workers can now achieve their dream of owning a home,” Acosta said.
“For our members who are seeking to buy homes, now is the best time to apply for a Pag-IBIG Housing Loan under the Expanded 4PH Program. With our special 3% rate fixed for the initial 10 years for the first 30,000 borrowers, we are empowering more Filipino workers, private sector employees, government workers, uniformed personnel, OFWs, self-employed individuals, and especially those with modest incomes, to gain greater access to decent and affordable housing, helping them build better lives,” she added. To make the process easier, the agency has launched the Expanded 4PH Online Registration Facility, allowing prospective borrowers to register and select their preferred housing unit online at https://pagibigfund.gov.ph/4PH_Program.html . The special offer is available only to the first 30,000 borrowers.
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