By Madelaine B. Miraflor
After drawing its highest ever gross income and lending portfolio, Home Development Mutual Fund, or Pag-IBIG Fund, is hoping that more of its members will take advantage of low interest rates and will finally avail of home loans this year.
“I am positive that our low-income members will be encouraged to get a home loan and take advantage of our lowest ever 3 percent per annum interest rate for a P450,000 loan under the Affordable Housing Program,” said Pag-IBIG Fund deputy chief executive officer CEO Marilene C. Acosta.
“Regular Housing interest rate is also at the lowest ever rate of 5.375 percent per annum for a one-year fixed re-pricing period,” she added.
In a statement on Thursday, Acosta reported the 2017 home loan accomplishments, saying that the National Capital Region (NCR) contributed the biggest share in the corporation’s total housing loan takeout value at P27.7 billion or 42.5 percent of the record-breaking total P65.1 billion takeout value in 2017.
This translates to 40,815 units built or purchased in 2017 in NCR out of the total 80,964 units built nationwide.
Meanwhile, Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti highlighted the company’s 2017 record-breaking operational highlights that include the highest ever gross income of P43.33 billion, record-high net income of P30.27 billion, first-ever P27.29 billion declared dividends and the highest ever dividend rate of 7.61 percent.
“This is our gift to our 17.65 million members, the owners of the Fund. Because of their faithful contributions and availment of our programs, Pag-IBIG Fund is now a P488.74 billion corporation, with a total of P36 billion in members’ savings. As a result, we were able to raise the dividend rate to 7.61 percent, the highest so far in the Fund’s history,” Moti said.
During a recently held forum in Makati, Pag-IBIG Fund recently awarded the top developers across NCR.
During the event, Pag-IBIG Fund apprised its stakeholders and partner-developers in the NCR of its record-breaking 2017 accomplishments.
“We’ve been holding this bi-annual event for four consecutive years now to regularly report to our stakeholders the Fund’s performance, particularly in home financing. We also recognize our top partner-developers who contributed in terms of quality accounts and helped us meet our goals. This is in support of the transparency and good governance directives of President Rodrigo Roa Duterte and the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program of Pag-IBIG Fund and Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario,” Moti said.
Pag-IBIG Fund also recognized its top ten partner developers in NCR in terms of take-out value. Income generated from housing-related assets is the Fund’s top income driver, contributing 52 percent of the Fund’s gross income for the year.
Tags: Acmad Rizaldy P. Moti, Affordable Housing Program, dividend rate, gross income, Home Development Mutual Fund, interest rate, low interest rates, Pag-IBIG Fund, Pag-IBIG Fund encourages members to avail of home loans at lower rates