- To help many Filipinos acquire homes and boost the economy during this pandemic, Pag-IBIG Fund is offering special low rates on their home loans
- 4.985 percent per annum under a one-year repricing period and 5.375 percent per annum under a three-year repricing period
- These are its lowest-ever rates that is available until the end of 2020 only
Having your own house is one of today’s primary necessities for a long term investment. Fortunately, there are tons of ways to acquire a house without the financial burden of a one-time payment.
Here in the Philippines, there are various agencies that are offering home and housing loans, condominiums, and apartment units that you can pay for at least the next 30 years.
One of the most trusted government agencies that offers home loans is the Pag-IBIG Fund. Pag-IBIG Fund members are able to acquire home loans under its housing loan program.
Now, the agency is offering its lowest promo rate ever on home loans in an effort to provide their members their dream house and help boost the national economy during this pandemic.
The special low rates for home loans are 4.985 percent per annum under a one-year repricing period and 5.375 percent per annum under a three-year repricing period.
These rates are considered the agency’s lowest rate ever under its Regular Housing Loan program and are only available until the end of this year 2020.
Pag-IBIG’s previous home loan rates are pegged at a low 5.375 percent per annum for the one-year repricing and 6.375 percent per annum for the three-year repricing period.
Meanwhile, its interest rates for Affordable Housing Program, currently available for low and minimum wage earners, is still at its lowest with a subsidized home loan interest rate of 3 percent per annum.
Once approved by the Pag-IBIG Board, these promo rates will take effect immediately and shall be enjoyed by incoming home loan borrowers until Dec. 29, 2020.
“By offering these special rates to our members, we are spurring economic activity in the housing industry, which has a ripple effect on the national economy. This then, is our contribution to our nation’s journey to recovery, as led by President Duterte,” said Eduardo del Rosario, Secretary of the Department of Human Settlements and Urban Development and chairman of the 11-member Pag-IBIG Fund Board of Trustees.