Pag-IBIG taps Ayala’s Avida, Amaia for expanded housing choices

MANILA, Philippines — The Pag-IBIG Fund has partnered with two Ayala-led real estate developers to expand access to its P10-million housing loan program, the agency announced on Thursday.

In a statement, the state-run housing fund signed a memorandum of understanding with Avida Land Corp. and Amaia Land Corp. to explore special rates on homes eligible for Pag-IBIG housing loans of up to P10 million for qualified members.

READ: Pag-Ibig raises housing loan limit to P10M

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Moreover, the partnership will cover the registration and accreditation of selected Avida and Amaia projects for Developer-Assisted housing loan processing, including eligible Amaia projects under the 4PH Program.

In addition, the parties will streamline documentation, loan processing, and fund release while helping borrowers meet program requirements.

“By helping developers connect their available housing inventory with Pag-IBIG Fund members and affordable financing, we give more Filipino workers quality housing choices within their means while supporting a stronger housing sector,” Housing Secretary Jose Ramon Aliling said.

For her part, Pag-IBIG CEO Marilene Acosta stated that the fund aims to partner with more trusted developers to expand housing options for members.

READ: Pag-IBIG Fund profits climb 11% to P16.7B in Q1

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“By combining these with our affordable rates and housing loans of up to P10 million, we hope to help our members find homes they can comfortably afford, with monthly payments that may be comparable to or even lower than rent. In this way, their hard-earned money goes toward a home they can truly call their own and a better future for their families,” she said.

In late May, Pag-IBIG raised its maximum housing loan limit to P10 million from P6 million. Likewise, borrowers can repay loans over 30 years, with interest rates set by lenders between 5.75 percent and 9.75 percent, depending on the fixing period.

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Still, for borrowers under the Expanded 4PH Program, the subsidized 3-percent annual interest rate will remain in place. /pai