Pag-IBIG MP2 home loans: All-time high for the first quarter

5 June 2021

businessmen hold house model hand pag ibig lumina homes mp2 program

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Written by: Angel Gondra

On June 4, the top officials of Pag-IBIG Fund gladly announced that they achieved yet another milestone after reaching a record-breaking number for their voluntary savings program and housing loan program during the first quarter of 2021.

According to them, the members’ savings under their voluntary Modified Pag-IBIG2 or MP2 Savings program achieved Php 8.65 billion from January to April this year while their home loans had reached Php 27.39 billion. This means that the agency was able to help its 27,041 members to fulfill their long-time dream of home investment.

They also express their great delight that these unprecedented numbers for the first quarter of 2021 only show the firm trust of Filipino workers in the Pag-IBIG Fund. In return, they said that their members could be confident enough that they will continue to give their best to provide them with a good rate for their savings while keeping reasonable interest for their loans. The Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo del Rosario also added that these are their contributions to the national government campaign for economic recovery. Sec. del Rosario is also the chairman of the 11-member of the Pag-IBIG Fund Board of Trustees.

Prior to this, Pag-IBIG Fund members already saved Php 13.3 billion in MP2 in 2020, increasing it by 11 percent from the previous year while achieving the leading amount saved in a year. Home loans from Pag-IBIG Fund also hit a new high in December 2020, when the agency released P12.11 billion, the highest sum ever disbursed in a single month.

According to Pag-IBIG Fund chief executive officer Acmad Rizaldy Moti, they have buoyancy that the agency will remain its vigorous performance throughout 2021 with the restrictions being already eased to help the national economy. He also mentioned that the remarkable performance of the MP2 from last year and the increasing house loans disbursed from the previous quarter of 2020 were maintained until the first months of 2021. He also added that amidst the ongoing pandemic, the MP2 Savings collections could still increase at 81% home loan releases compared to the 64 percent increase they had in the first quarter of 2020.

Moti said that their achievements from the first four months of 2021 are record-breaking and higher than what they were able to achieve during the same period before the pandemic started. On the other hand, the amount that members voluntarily saved from January to April this year for MP2 alone is already equivalent to two-thirds, or 65% of the amount they saved for MP2 for the whole of 2020. In the end, Moti expressed his great appreciation to the member of the Pag-IBIG Fund for their continued trust in the agency in choosing their home financing and saving needs. He said that this gives them hope that unless another tribulation occurs, they are on track to have another excellent year to honor their obligations to Filipino workers both locally and abroad.

Lumina Homes, an affordable house and lot developer, considers Pag-IBIG Fund one of its major partners in ensuring that the vision of providing a decent abode to every Filipino family is being delivered and realized through the pag-ibig housing loan.