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Pag-IBIG fund members fall in line at the Commonwealth office in Quezon City on June 9, 2020. Most of them applied for calamity loans as the COVID-19 pandemic shuttered businesses for over two months and left many industries struggling. Mark Demayo, ABS-CBN News
MANILA — The Pag-IBIG Fund has given out P88.3 billion in home loans in the first 9 months of the year, the state-owned corporation said.
This is higher by almost P5 billion from the P83.31 billion in home loans they released in the same period last year.
Out of the total amount, P3.49 billion were released as socialized home loans for the benefit of 8,216 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors.
This year's figures financed 68,211 housing units, according to the fund.
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Pag-IBIG accounts for nearly 40 percent of the total home mortgages in the country, said Department of Human Settlements and Urban Development Secretary Rizalino Acuzar.
"By the end of the year, we are optimistic that our home loan releases may even reach P130 billion,” said Pag-IBIG Fund Chief Executive Officer Marilene Acosta.
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