Lumina Homes Recognized as Top Developer by Pag-IBIG

In a country where real estate has thrived for the past decade, particularly in the luxury residential and commercial property categories, one real estate developer, Prima Casa Land & Houses, Inc.'s Lumina Homes, ensures that no Filipino family is left behind.

According to members of the Subdivision and Housing Developers Association, Inc. (SHDA), the backlog currently stands at 3.9 million units which could climb to 6.5 million by 2030 if the problem is not addressed.

Lumina realized the need in the year 2012 and has since established over 50 house and lot projects across the country – with more on the way – to house and assist thousands of Filipinos in need of affordable housing.

At the 2019 Chairman's Report held at the Philippine International Convention Center (PICC) in Pasay City, last Feb. 7, 2020, Lumina was recently recognized by Pag-IBIG Fund as the "Top 1 Developer" among its accredited real estate developers association in terms of housing loans takeout and loan value for 2019. Lumina is rising from its Top 6 rank in the years 2016 and 2017 and from the Top 4 in 2018.

Aside from that, Lumina Homes also received a special award as the "most number of Pag-IBIG Fund and housing loan borrowers served" for 2019.

Pag-IBIG Fund awards its service partners, developers, and companies who contribute to the organization's pursuit of affordable homes for every Filipino family in support of the Shelter Program of the National Government through the Building Adequate, Livable, Affordable, and Inclusive (BALAI) Filipino Community Program.

Lumina President and COO Estrellita S. Tan gave her sincerest gratitude to Pag-IBIG Fund for listening to industry stakeholders and identifying solutions to resolve concerns and issues through timely and relevant initiatives to address the growing housing backlog and contributing to rural development.

"Pag-IBIG Fund has truly given us the confidence to embrace an aggressive stance to expand nationwide and fulfill our commitment to build affordable communities and realize the Filipino dream of homeownership. We look forward to our continuing partnership and better linkage to further strengthen the industry," she says, adding that is excited for the full implementation of Virtual Pag-IBIG under the leadership of its president, Mr. Acmad Moti.

She also said the Pag-IBIG Fund gives the real estate and housing industry great confidence to aggressively expand its market across the country while fulfilling its commitment to building affordable communities to provide each Filipino a home they can call their own. She also added that as the leading housing developer, Lumina is looking forward to continuing its partnership and stronger association to strengthen the industry. She also expressed their excitement regarding the full implementation of Pag-IBIG Fund's virtual real estate developers platform under the supervision of President Acmad Moti.

Other top developers are Borland Development Corp., Lynville Land Development Corp., CenQHomes Development Corp., Charles Builders Group, Johndorf Ventures Corp., Cebu Land Masters, Deo Homes Property and Development Inc., and Hausland Group. Phinma Properties claimed also a spot along with DDC Land, Inc., Megacrown Realty, and APEC Homes. CenQHomes received the best performing accounts ratio while Raemulan Lands bagged the best performing loans ratio in National Capital Region.

How to Qualify for PAG-IBIG Fund Housing Loans

Whether you're one of the overseas Filipino workers or minimum wage earners, any individual can qualify for PAG-IBIG basic housing program. You can achieve your dream home as long as you meet the qualifications below.

• You must be an active PAG-IBIG Fund member first for at least 24 months.

• You need to have a stable source of income and be able to afford monthly repayments.

• Your age must be between 21 and 65 years old.

• You must have a good credit history.

• You must submit complete documentary requirements, including proof of income, employment certificate, government-issued IDs, and other supporting documents.

• You must attend the loan counseling session once submitted all the requirements needed.

Important Note

If you have an existing loan from PAG-IBIG, you must pay them fully first before you can avail of a housing loan. For instance, if your membership does not meet the required months of contribution, you have the option to pay the remaining contributions to complete the 24 months.

An active member can borrow up to 6 million pesos but this usually varies upon evaluation. Most likely, only 80 percent of the total housing package is approved and the remaining 20 percent will serve as home equity. In terms of the prevailing interest rate, it is between 5 percent and 10 percent, based on the applied repayment period.

When it comes to the mode of payments, PAG-IBIG extended its list of collection partners. These are salary deductions, post-dated checks, direct payments to the accredited developer, and auto-debit arrangements with banks (BPI, AUB, UnionBank, Security Bank, etc.). You can also pay via e-wallets thru GCash, Maya, EasyPay, and Bayad Center.

Constantly bringing hope to the countryside.

Currently, Lumina communities are located in the key town and cities around the country, including Rizal, Bulacan, Pampanga, Zambales, Bataan, Pangasinan, La Union, Nueva Ecija, Cavite, Laguna, Batangas, Quezon, Camarines Norte, Albay, Iloilo, Capiz, Cebu, Negros Occidental, Agusan del Norte, Zamboanga del Sur, Bukidnon, Misamis Occidental, and Davao.

Lumina Homes is also now offering a variety of rowhouses, townhouses, and single firewall homes that are built-in high-quality materials that cost between Php 500,000 to Php 1.7 million. If a homebuyer is qualified as a "low-income earner" based on the Pag-IBIG standards, he or she can pay as low as Php 1,897 a month at a 3% interest rate for a brand new Lumina house and lot unit.

Lumina Homes is also complete with amenities such as a community hall, basketball court, multi-purpose hall, mini gardens and playground, and provision for use as a commercial area.

Through housing development and its strategic locations near major thoroughfares and highways, transport hubs, schools, hospitals, and business and leisure facilities, Lumina built a self-sustaining community and strengthened the Filipinos' pride in homeownership.