Eyeing a home? Pag-IBIG loan rates go as low as 3%

ILOILO CITY — The Home Development Mutual Fund, known as Pag-IBIG Fund, released PHP 4.884 billion in housing loans in Western Visayas, including Negros Occidental, from January to August 2026.

During the same period, 3,679 members in the region took out housing loans.

Atty. Stanley Alayon, Pag-IBIG Fund Western Visayas area head, presented the figures during a Kapihan sa PIA Western Visayas session Tuesday, held in celebration of National Shelter Month.

Pag-IBIG Fund is a government-run institution that offers savings programs and housing loans and collects mandatory contributions from members and employers.

The region recorded 557,216 active members during the period.

Members’ savings reached PHP 3.66 billion.

The agency also released PHP 3.061 billion in short-term loans, benefiting 131,045 members.

Despite the high housing loan releases, Alayon said the agency continues to face the challenge of encouraging more members to take out housing loans.

“There is still a huge gap when we compare the number of members who have housing loans against our total membership. Many members have yet to avail of housing loans, which does not necessarily mean they already own houses,” he said.

Alayon also discussed differences in housing market preferences between Panay Island and Negros Occidental.

He said socialized housing projects are available in the region, but economic and open-market units remain more salable in Panay.

Nationwide, Pag-IBIG Fund recorded 17.3 million active members during the same period.

Housing loan releases reached PHP 95.54 billion for 59,259 members.

Short-term loan releases totaled PHP 78.34 billion, benefiting 3.64 million members.

Members’ savings stood at PHP 142.35 billion.

As of the first half of 2026, Pag-IBIG Fund’s total assets reached PHP 1.316 trillion, with net income of PHP 41.349 billion.

The agency aims to disburse PHP 167 billion in housing loans by the end of 2026.

The target is supported by partnerships with property developers under the expanded Pambansang Pabahay Para sa Pilipino (4PH) Program, a government initiative to broaden access to affordable housing for qualified beneficiaries.

The program was launched in 2022 to help address the country’s housing backlog.

Pag-IBIG Fund offers housing loans with subsidized interest rates as low as 3% per annum for qualified borrowers.

Promotional rates are also available at 4.5% per annum for properties priced above PHP 1.8 million up to PHP 4.9 million, and 5.75% per annum for properties priced above PHP 4.9 million up to PHP 10 million.

Qualified borrowers may apply for housing loans of up to PHP 10 million.

From January to September 2026, Pag-IBIG Fund recorded 38,847 members participating in its Modified Pag-IBIG II (MP2) Savings program, with 43,982 accounts generating PHP 5.786 billion in savings.

MP2 is a voluntary savings program that allows eligible members to save beyond their regular Pag-IBIG contributions.

It has a five-year maturity period and offers dividends that may be higher than those of regular savings, depending on the fund’s performance.

Alayon encouraged members to explore Pag-IBIG Fund’s various savings and financing programs and take advantage of opportunities to own a home.

He urged members to ask about available options and determine which programs best suit their needs and financial capacity.

Other services offered by the agency include Regular Savings, Multi-Purpose Loans, housing loans payable over up to 30 years, the Loyalty Card Plus, Virtual Pag-IBIG, and acquired assets.