SMDC, Pag-IBIG expand Iloilo homeownership with lower loan rates

By Mariela Angella Oladive

ILOILO CITY — Prospective homebuyers in Iloilo City can explore condominium options and access lower housing loan interest rates through a partnership between SM Development Corporation (SMDC) and the Home Development Mutual Fund (HDMF), commonly known as Pag-IBIG Fund.

The partnership aims to make homeownership more accessible by connecting qualified buyers with housing financing options, including promotional interest rates as low as 3% for eligible first-time homebuyers.

SMDC and Pag-IBIG Fund conducted regional activities from Oct. 16 to 18 to introduce the initiative to prospective buyers in Western Visayas.

The activities opened Oct. 16 with a walkthrough of Glade Residences in Jaro and a ceremonial turnover at Molo Mansion.

The initiative builds on an agreement signed in Metro Manila on Sept. 8, extending the partnership’s reach to prospective homebuyers outside the capital who want to explore residential properties and understand housing loan application requirements.

Located in Barangay Balabago, Jaro, Glade Residences offers studio and one-bedroom condominium units with amenities such as landscaped open spaces, swimming pools and a children’s playground.

The 3.6-hectare residential development will comprise 11 four-story buildings with a combined 1,929 units.

Nearby institutions include Central Philippine University and Metro Iloilo Hospital and Medical Center, providing residents access to educational and health care facilities.

Unit turnover is scheduled to begin in December 2026.

Through the partnership, prospective buyers can inquire about participating SMDC developments, request estimated housing loan computations and obtain information about documents required for Pag-IBIG Fund financing.

SMDC Vice President and Head of Design, Innovation and Strategy Jessica T. Sy said the company aims to provide housing options for families in communities where they work and plan to build their futures.

“Building a nation of homeowners means helping more families own a home where they have chosen to build their future,” Sy said.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the initiative supports President Ferdinand Marcos Jr.’s directive under the Pambansang Pabahay Para sa Pilipino (4PH) Program to expand housing opportunities across income groups.

The program seeks to improve access to homeownership for Filipinos, including low-income and middle-income households, through housing development and financing initiatives.

Pag-IBIG offers promotional housing loan rates

Dr. Kenneth Macoy, Pag-IBIG Fund’s BDD Visayas Section Chief for Countryside Housing Initiative, said the agency is offering promotional housing loan interest rates until Dec. 31, 2026.

The rates are lower than the regular 6.25% housing loan interest rate, providing potential savings for qualified borrowers.

For socialized housing, a 3% interest rate applies to horizontal housing units priced at up to PHP 950,000 and vertical or condominium units priced at up to PHP 1.8 million.

The 3% rate is available to qualified first-time homebuyers purchasing eligible socialized housing units.

For residential properties priced at up to PHP 4.9 million, including units at SMDC Glade Residences, Pag-IBIG Fund is offering a promotional interest rate of 4.5% until the end of 2026.

Meanwhile, properties priced above PHP 4.9 million and up to PHP 10 million qualify for a promotional interest rate of 5.75%.

Macoy said the reduced rates could translate into substantial savings for eligible homebuyers compared with standard financing arrangements.

The actual savings will depend on the approved loan amount, repayment period and applicable financing conditions.

Partnership also covers Bacolod developments

The SMDC-Pag-IBIG Fund partnership extends to prospective homebuyers in Bacolod City, where the property developer offers Smile Residences beside SM City Bacolod and Parkville, a residential development along Burgos Avenue.

The inclusion of Bacolod projects expands the financing initiative’s reach across Western Visayas, providing additional options for buyers considering condominium and residential properties in major urban centers.

SMDC maintains a regional office in Iloilo City that handles sales processing, contract documentation and customer support for buyers in Iloilo and Bacolod.

The office serves as a local point of contact for prospective homeowners seeking information about participating residential developments and financing requirements.

Pag-IBIG Fund housing financing is available to qualified borrowers purchasing eligible properties in participating accredited developments.

Loan approval and approved amounts depend on borrower eligibility, property appraisal and compliance with Pag-IBIG Fund’s documentation and lending requirements.

The availability of promotional rates does not automatically guarantee loan approval, as applications remain subject to the agency’s evaluation process.

Interested homebuyers may visit smdc.com/pag-ibig for information about participating properties, housing financing options and property viewing arrangements.