COOPERATIVES and accredited companies may now avail of a 40 to 45 percent discount under the Acquired Assets Housing Loan Program of the Pag-ibig Fund.
Anthony Maglunsod, department manager of the Loans Management and Recovery Department of the Pag-ibig Fund Housing Loan Origination (Visayas and Mindanao), said cooperatives and companies can enjoy this discount if they avail of a loan of P10 million to over P150 million.
“You can buy it through our group sale program. If your group can buy P10 million from our acquired assets through bulk sale, you are already qualified for a 40 percent discount,” he said.
Angelo Hermosisima, officer-in-charge of the Acquired Asset Division of the Cebu Loans Management and Recovery Department, said the entity needs to have an existing collection sourcing agreement with Pag-ibig to avail of the discount.
“Because the payment mode for the housing loan amortization is through salary deduction, once it will be approved,” Hermosisima said.
He said it is “very advantageous” for employers who want their employees to be within the vicinity of their workplace.
“We would like to encourage everyone interested to let us know so we can visit your office and discuss with you the details of the program,” he said.
From January to October, Pag-ibig managed to collect P7.96 billion from the program, which is 103 percent higher compared to their target of P7.7 billion after the program was rolled out this year.
Amortization collection also hit P38.54 billion, which is 11 percent higher compared to the P34.83 billion collection target, which is attributed to Pag-ibig’s continuous approach for payment collection.
Pag-ibig Fund has 13 million members as of October.
In South Central Visayas, which covers its offices in Cebu Business Park, Downtown Cebu City, Talisay City, Carcar City, Toledo City and Dumaguete City, there are 484,262 members, a three-percent increase compared to last year.
In North Central and Eastern Visayas, which caters to Mandaue City, Mactan, Danao City, Bogo City, Tagbilaran City, Ubay, Tacloban City, Ormoc City, Sogod and Calbayog, there are 535,739 members. It increased by 13 percent compared to last year.
Maglunsod said they will also retain their interest rate for housing loans at 5.375 percent for one-year fixed pricing and 6.375 percent for three-year fixed pricing.
He noted an increase of 11 percent in the approved housing loans or 62,665 approved applications from January to September this year, compared to 56,455 approved applications in the same period last year.
These loans’ total value is 51.76 billion, which is 14 percent higher compared to P45 billion last year.
Maglunsod said they are hopeful they can attain their target of P75 billion by the end of the year. JOB