Latest news with #Pag-IBIGFund
Filipino Times
4 days ago
- Business
- Filipino Times
How to buy a Pag-IBIG foreclosed property: A step-by-step guide
For many overseas Filipino workers (OFWs), owning a home is more than just a dream—it's a symbol of security, success, and a reward for years of sacrifice abroad. But with rising property prices in the Philippines, this dream can feel out of reach. Fortunately, there are alternative ways to acquire a home at a more affordable price. One such opportunity is through the Home Development Mutual Fund (Pag-IBIG Fund), which offers foreclosed properties at significantly lower prices. These properties, which were repossessed due to loan defaults, are made available to buyers looking for budget-friendly housing options. But before making a decision, it's essential to understand the process to ensure a smooth transaction. Here's a guide on how to purchase these properties and make the most of the opportunity: Step 1: Browse the List of Available Properties Pag-IBIG Fund regularly publishes a list of foreclosed properties available through its Online Public Auction (OPA)—a secure, fast, and convenient way to purchase properties wherever you are in the world. These listings can be accessed through the official Pag-IBIG website, organized by location and auction stage. Discounts of up to 45% are offered, making these properties more affordable than most in the market. Each listing includes details such as the property's location, lot/floor area, and minimum bid price. Property types vary—from residential lots and single-detached homes to townhouses and condominiums. Use Pag-IBIG's Property Finder tool for a more convenient search experience. Tip: If possible, inspect the property or have someone do it for you before placing a bid. Since these are sold as-is, where-is, checking the condition helps you make an informed investment. Step 2: Register for the Bidding Process To participate in the auction, you need to be a registered bidder first. Registration is free, and you can do it online. Just prepare all the required documents, including one valid ID with signature, a selfie photo showing your valid ID card, and an active mobile number, and fill out the needed information for verification. Once verified, Pag-IBIG will assign you a Buyer ID Number, which will serve as your unique identifier for all future bidding activities. Step 3: Join the Auction Auctions are now conducted online on scheduled dates, making it convenient for OFWs to participate from anywhere in the world. The highest bidder wins the property. Bid only within your financial capacity and factor in potential renovation costs. Review the bid terms and deadlines carefully to avoid disqualification. Step 4: Post-Auction Requirements If you win the bid, congratulations! You'll need to complete the following next steps: Submit the required documents for the sale to proceed. Choose your preferred payment option: Cash – full payment within one month Short-term installment – payable within 12 months Pag-IBIG housing loan – payable for up to 30 years, subject to approval Once payment is completed, Pag-IBIG will assist in processing the transfer of ownership, including the issuance of a new land title in your name. Be prepared to pay for transfer taxes, registration fees, and documentary stamp tax, which are standard in real estate transactions. Should you invest in Pag-IBIG foreclosed properties? For OFWs and anyone seeking affordable real estate, Pag-IBIG foreclosed properties present a smart investment and a cost-effective way to own property. Aside from the lower-than-market prices, Pag-IBIG offers various financing options, making it easier for Filipinos to achieve their dream of owning a home. With a bit of research and preparation, this can be your ticket to finally owning the home you've worked so hard for. Visit the official website of Pag-IBIG to learn more.
Filipino Times
4 days ago
- Business
- Filipino Times
Why Pag-IBIG MP2 is a smart savings option for overseas Filipinos
For many overseas Filipinos, building a secure and comfortable future is a top priority. Among the many savings and investment options available, one stands out for its high returns, flexibility, and peace of mind: the Pag-IBIG Modified Pag-IBIG 2 (MP2) Savings Program. Specifically designed for voluntary savings, MP2 offers competitive, tax-free dividends, government-guaranteed security, and flexible contribution options, making it an ideal choice for Filipinos working abroad. What is Pag-IBIG MP2? The MP2 Savings Program is a voluntary savings scheme offered by the Pag-IBIG Fund. It provides higher earnings compared to the mandatory Pag-IBIG Regular Savings that members contribute to monthly. MP2 is open to all active Pag-IBIG members—including Overseas Filipino Workers (OFWs)—and even to former members, such as pensioners or retirees, who still have a source of monthly income and at least 24 months of contributions prior to retirement. With a minimum contribution of just PHP 500 per remittance, members can grow their savings over a 5-year maturity period, with the option to receive dividends annually or as a lump sum at the end of the term. Why OFWs should consider MP2? MP2 has consistently outperformed regular savings accounts. In fact, it has delivered annual dividend rates of 6% or more in past years, reaching 7.10% in 2024—far higher than what other financial institutions offer. Unlike other investments that carry risk or may lose value over time, MP2 is backed by the Philippine government, making it a safe and secure option. This level of stability is especially important for OFWs who want to ensure their hard-earned money is protected. Even better, MP2 earnings are 100% tax-free. That means you receive your dividends in full—no withholding taxes, no deductions, and no surprises. It's one of the few savings options that lets your money grow without losing a single centavo to taxes. The program is also completely voluntary, giving you full control. Whether you want to save monthly or make lump-sum contributions, MP2 lets you decide what works best for your income and goals. No fixed amounts required—save as much or as often as you want. How to join MP2 Enrolling in the MP2 Savings Program is simple. You can register online through the Pag-IBIG Fund website or visit any Pag-IBIG branch in the Philippines. Pag-IBIG has facilitated various payment channels, including online banking, accredited remittance centers, and partner banks worldwide, making it easier to contribute from abroad. For OFWs looking for a safe and high-earning way to save, the Pag-IBIG MP2 program is an excellent choice to grow your hard-earned money. It provides better returns than most savings accounts, offers flexible payment options, and is fully backed by the government—helping overseas Filipinos secure a stronger financial future. For more information about the MP2 Savings program and other services, visit Pag-IBIG's official website
Filipino Times
01-07-2025
- Business
- Filipino Times
Pag-IBIG Fund earns 13th straight unmodified opinion from COA
Pag-IBIG Fund has earned its 13th consecutive Unmodified Opinion from the Commission on Audit (COA), reaffirming its commitment to excellence in financial management, sound governance practices, and consistent compliance with accounting and auditing standards, officials announced on Tuesday, July 1. The latest audit opinion followed COA's comprehensive review of Pag-IBIG Fund's financial statements and operations for the year 2024. The review confirmed that the agency's transactions were properly conducted in accordance with applicable laws and regulations, and that its financial statements were fairly presented, in all material respects, in line with relevant government accounting and reporting standards. 'This is further proof that Pag-IBIG Fund has been, and continues to be, managed with professionalism, prudence, and integrity,' said Secretary Jose Ramon P. Aliling, head of the Department of Human Settlements and Urban Development and Chairperson of the 11-member Pag-IBIG Fund Board of Trustees. 'It is a testament to how Pag-IBIG Fund upholds the highest standards in managing our members' hard-earned savings and in fulfilling its mandate to serve the Filipino worker. This achievement also reflects Pag-IBIG Fund's strong position, as it plays a key role in the administration's flagship Expanded Pambansang Pabahay para sa Pilipino (4PH) Housing Program. We remain committed to the directive of President Ferdinand Marcos Jr. to build a more secure, resilient, and prosperous future for every Filipino family.' COA had previously issued unqualified opinions on Pag-IBIG Fund from 2012 to 2017 and unmodified opinions from 2018 to 2024. With this latest result, Pag-IBIG Fund joins a short list of Philippine government agencies and GOCCs that have consistently received unqualified and unmodified opinions for over a decade, a noteworthy distinction that underscores its sustained fiscal discipline and commitment to transparency. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta likewise emphasized the significance of this recognition, highlighting how it reflects the agency's outstanding performance and service delivery in 2024. 'Pag-IBIG Fund exceeded the one-trillion-peso mark in total assets and posted a historic net income of ₱66.78 billion last year. We also achieved all-time highs in our housing loan releases, cash loan disbursements, and loan collections, enabling more Filipino workers to access affordable home financing and meet their short-term financial needs. Earning COA's Unmodified Opinion for the 13th consecutive year affirms that we accomplished all these while upholding the highest standards of integrity, in line with President Marcos Jr.'s call for excellence and accountability in public service, said Acosta.' 'This recognition reinforces our members' trust, knowing that their savings are safe, protected, and responsibly managed. We will continue to serve them with Tapat na Serbisyo, Mula sa Puso, and remain focused on sustaining this track record of integrity in the years ahead, she added.' The unmodified opinion from COA adds to the list of recognitions earned by Pag-IBIG Fund from governing bodies for its excellence in public service last year. In 2024, Pag-IBIG Fund was also named as one of the top-performing government firms for good governance by the Governance Commission for GOCCs (GCG). Pag-IBIG Fund also earned a satisfaction rating of 99.52% in its 2024 Client Satisfaction Measurement, in accordance with the standards set by the Anti-Red Tape Authority (ARTA) and the GCG.
Filipino Times
09-06-2025
- Business
- Filipino Times
Pag-IBIG reports strong Q1, urges members to maximize MP2 savings and home loans
The Pag-IBIG Fund, on June 9, 2025, held a media roundtable at The Manila Hotel to strengthen ties with its media partners and highlight its latest milestones. The event brought together representatives from print, digital, and radio platforms, providing an opportunity to share updates on the agency's recent achievements and to reinforce support in promoting its services and programs for Filipino members. Speakers and attendees of the Pag-IBIG Fund's event. The session opened with remarks from Mr. Alexander Hilario G. Aguilar, Deputy Chief Executive Officer for Marketing, Product Development, and Sales. Pag-IBIG Fund's CEO, Marilene C. Acosta, delivered the keynote speech, thanking media partners and reporting the Fund's performance. Mr. Domingo C. Jacinto Jr., Vice President for Public and Member Relations, led the discussion on the benefits of Pag-IBIG membership and answered questions during the open forum. Ms. Janice Anne P. Delmo, Department Manager III of the Public and Media Affairs Office, closed the program with acknowledgments and a message of continued collaboration. The gathering was also an opportunity for the media to clarify processes and updates related to Pag-IBIG programs, providing feedback and helping bridge the information gap for Filipino workers, both in the country and overseas. Strong first quarter performance Pag-IBIG Fund reported that it released P30.22 billion in home loans from January to March 2025. This marks an increase of over 8 percent compared to the P28.09 billion disbursed during the same period last year. The housing loans helped more than 20,000 members acquire their own homes during the first three months of the year. In support of the government's Pambansang Pabahay para sa Pilipino (4PH) program, Pag-IBIG also released nearly P988 million in housing loans, benefitting over 600 families. Under the 4PH program, the agency works with developers, contractors, and local governments to build affordable housing communities for qualified Filipino workers. The Pag-IBIG Fund has secured a PHP 250-billion funding commitment covering the period from 2023 to 2028. Assets surpass P1.1 trillion As of March 31, 2025, Pag-IBIG Fund's total assets exceeded P1.1 trillion, a growth of more than P34 billion in just three months. This growth was driven by increased home loans, income from strategic investments, and higher savings collections from its members. Pag-IBIG Fund statistics in 2024. The agency reported a strong equity base of P776.52 billion and a total of P21.29 billion in cash and cash equivalents. Its investment portfolio expanded to P133.06 billion, showing a strong focus on financial sustainability. Growing member savings and services In the first quarter alone, Pag-IBIG Fund collected P40.41 billion in membership savings, a 41 percent jump compared to the same period in 2024. The agency also maintained a strong performing loans ratio of over 94 percent, which indicates that most members are paying their loans on time. Pag-IBIG Fund members become first-time homeowners, with 1,159 approved loans. During the gathering, the media were also informed that Pag-IBIG Fund is actively encouraging more members to grow their savings through its MP2 Savings Program—a voluntary savings scheme with higher dividend rates than regular savings. The agency aims to increase participation in the MP2 program in the coming months. Participants were also reminded of the benefits of owning a Pag-IBIG Loyalty Card Plus. The card allows members to access discounts on groceries, fuel, travel, tuition fees, and more from partner establishments in the Philippines and abroad. Your Pag-IBIG Fund statistics in 2024. Assurance on funds management Pag-IBIG Fund clarified that all contributions are handled solely by the agency and are not transferred or managed by other government offices. Contributions are invested prudently and are used to fund housing loans, savings programs, and income-generating investments that benefit all members without the influence of other government bodies. Benefits of being a Pag-IBIG member Filipinos abroad can continue saving and applying for loans through Pag-IBIG Fund via its online platforms. They may register and pay contributions through remittance centers and partner banks. Online services are also available through the Virtual Pag-IBIG platform, allowing members to monitor their savings, apply for loans, and update records without needing to visit a branch. The benefits of being a Pag-IBIG member include access to housing loans, short-term loans, regular and MP2 savings programs, annual dividends, and partner discounts through the loyalty card. These benefits are available as long as the member consistently pays their monthly contributions, which start at as low as P100.
Filipino Times
06-06-2025
- Business
- Filipino Times
Pag-IBIG Fund maintains low housing loan rates through end of 2025
Pag-IBIG Fund announced that it is maintaining its low interest rates on housing loans until the end of 2025, continuing its efforts to make homeownership more affordable and accessible for Filipino workers. 'We are keeping our housing loan interest rates low to help more Filipino workers achieve their dream of homeownership,' said Secretary Jose Ramon P. Aliling, Chairperson of the 11-member Pag-IBIG Fund Board of Trustees and Secretary of the Department of Human Settlements and Urban Development (DHSUD). 'This forms part of DHSUD's renewed direction to expand the Pambansang Pabahay para sa Pilipino Program, in line with the vision of President Ferdinand R. Marcos Jr. to build a Bagong Pilipinas—where every Filipino has access to safe, affordable, and resilient communities. By keeping rates low, we make monthly amortizations more affordable, enabling more of our members—especially those who are minimum-wage earners and from low-income sectors—to finally move into homes they can truly afford.' Under its current terms, Pag-IBIG Fund offers housing loans at interest rates as low as 5.75% per annum for a one-year repricing period, and 6.25% for a three-year repricing period. Meanwhile, qualified low-income members may avail of special rates under the agency's Affordable Housing Program to purchase socialized housing units at just 3% per annum. Members may also enjoy loan terms of up to 30 years, helping keep monthly amortizations further within reach. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the agency's sound financial position makes the continued low rates possible. 'Pag-IBIG Fund's prudent fiscal management, strong collections, and high-performing loan portfolio continue to keep us financially sound, enabling us to finance our members' housing needs without external borrowing,' Acosta said. 'This allows us to maintain affordable rates and expand home financing access to more Filipino workers. As we fully support the government's housing thrust under the Marcos administration, we remain focused on helping more of our members—especially those in underserved sectors—secure homes they can call their own.' This announcement builds on Pag-IBIG Fund's strong performance in 2025. In the first quarter alone, the agency released ₱30.22 billion in home loans, benefiting over 20,000 members across the country. Additionally, Pag-IBIG Fund's total assets surpassed ₱1.1 trillion as of March 31, 2025, reflecting its robust financial standing and capacity to sustain long-term support for affordable housing finance.
