Marcos Admin: Over 500,000 Homes Built or Financed Under 4PH Program

MANILA, Philippines — More than 500,000 homes have been built or financed under the Marcos administration’s Expanded Pambansang Pabahay para sa Pilipino Program (4PH), with the flagship housing initiative positioned to ease the country’s backlog and expand affordable home financing. This includes the over 100,000 homes built and financed in under a year through the Extended 4PH program, President Marcos said in his fifth State of the Nation Address on Monday. “Together with the private sector and local governments, we are working tirelessly to bridge the housing gap nationwide. We are doing this through new communities, acquired assets of the Pag-IBIG Fund, the Community Mortgage Program, resettlements and even rental housing,” he said. According to the latest available data, the Pag-IBIG Fund has so far released P517.45 billion in home loans that financed 379,294 housing units. The fund has advanced the program by expanding partnerships with private developers and government agencies to increase the supply of homes tailored to members’ needs, offered acquired assets as an additional affordable option and lowered financing rates to reduce monthly amortizations. Marcos also noted the central role of affordable financing in turning available housing into homes that Filipino families can own. “The key to all of this is a sound lending system, to make housing more affordable for Filipinos. One of these is the Pag?IBIG Fund. Its 17 million members continue to grow and with that, the savings they invest also keep expanding,” he said. To broaden access, Pag-IBIG continues to offer a subsidized three percent rate for socialized housing loans and has raised the maximum housing loan amount to P10 million. It also offers promotional rates of 4.5 percent for loans above the socialized housing limit up to P4.9 million and 5.75 percent for loans above P4.9 million until year-end. Marcos added that the Pag-IBIG Fund, Social Security System and Government Service Insurance System enable workers to save for their future, receive assistance during emergencies, calamities and other periods of need and build toward owning an affordable home under Expanded 4PH. “The more than 500,000 homes built or financed under the Marcos administration’s housing program over the past four years are not just numbers. They mean that more Filipino families have been given the opportunity to own their own homes and build a better, safer and more stable future under the Expanded 4PH,” Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling said. Pag-IBIG Fund CEO Marilene Acosta said continued trust and participation of its members and the strong financial position of the agency allowed it to sustain offering affordable home financing.