Pag-IBIG extends 3% loan rate to 10 years for 30K borrowers

The Home Development Mutual Fund (Pag-IBIG) extended its special three percent housing loan rate for qualified borrowers under the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, doubling the standard five-year subsidized period to 10 years.

This extension applies to the first 30,000 eligible borrowers and aims to make home financing more affordable and support the government's housing agenda.

Vice President for Public and Member Relations Group Jack Jacinto stated that these early bird promo beneficiaries will enjoy the special rate for the full decade of their loan term rather than the usual five years.

Eligibility includes first-time home buyers earning up to P47,856 in Metro Manila and P34,686 outside NCR, as well as all overseas Filipino workers regardless of income.

Under the program, members can avail loans to purchase socialized housing units priced up to P850,000 or condominium units worth up to P1.8 million in accredited projects.

Pag-IBIG CEO Marilene Acosta emphasized that this extended fixed rate gives workers a better chance at home ownership with significantly lower monthly payments.