Filinvest Partners with Pag-IBIG Fund to Boost Affordable Housing Program

Filinvest Land Inc. is joining the Pag-IBIG Fund's network of partner developers for its Expanded Pambansang Pabahay para sa Pilipino Program (4PH), aiming to provide Filipino workers with greater access to quality and affordable homes. In a news release on Wednesday, Pag-IBIG Fund said its partnership with Filinvest will open select residential projects of the developer to Pag-IBIG Housing Loan financing, allowing qualified members to access preferential pricing and other benefits. Pag-IBIG Fund CEO Marilene Acosta and Filinvest Land president and CEO Tristan Las Marias signed a memorandum of understanding formalizing the partnership. “Under President Ferdinand R. Marcos Jr.’s Expanded 4PH Program, we have already made significant gains in bringing more affordable housing opportunities within reach of Filipino families, and we are building on this momentum," said Department of Human Settlements and Urban Development Secretary and Pag-IBIG Fund Board of Trustees Chairperson Jose Ramon Aliling. "By working more closely with the private sector and bringing more of the country’s leading developers into this shared effort, we can open even more opportunities for our people,” he added. Aliling said the partnership with Filinvest would give Pag-IBIG Fund members more housing options and access to affordable financing. “With more reputable companies now partnering with Pag-IBIG Fund, Filipino workers will have more housing choices supported by affordable financing and better opportunities to own a home,” Aliling added. Under the partnership, qualified Pag-IBIG Housing Loan borrowers may enjoy preferential pricing on select units in participating Pag-IBIG-accredited Filinvest projects. Prospective homebuyers can also benefit from Pag-IBIG Fund’s increased housing loan limit of up to P10 million and a subsidized interest rate of 3% per annum for qualified socialized housing borrowers under Expanded 4PH. Promotional rates are also available at 4.5% per annum for loans of up to P4.9 million and 5.75% per annum for loans above P4.9 million and up to P10 million. “Our partnership with Pag-IBIG Fund allows us to help more Filipino families move closer to owning a home by giving qualified buyers access to financing options and incentives across select Filinvest Land developments," Las Marias said. "Through this collaboration, we also hope to support the Expanded 4PH Program by widening access to quality and affordable housing and giving more Filipinos the opportunity to build a home of their own,” he added. According to Acosta, the partnership with Filinvest Land would allow Pag-IBIG Fund to combine affordable financing with quality homes at more competitive prices for its members. She said Pag-IBIG Fund’s higher housing loan limit of P10 million and lower promotional rates could be complemented by preferential prices and other offers from Filinvest "By working together, we can give our members more choices and more practical means to take that next step toward owning a home,” she said.—MCG, GMA News