FILINVEST Land Inc. (FLI) has joined Pag-IBIG Funds’ growing network of partner developers in support of President Ferdinand Marcos Jr.’s expanded Pambansang Pabahay Para sa Pilipino (4PH rogram.
Pag-IBIG CEO Marilene Acosta said on Wednesday that the partnership opens select Filinvest residential projects to the agency’s housing loan financing and allows qualified members to enjoy preferential pricing and other benefits, further expanding the housing choices available to Pag-IBIG members.
“With Filinvest Land as our partner, we can bring together affordable Pag-IBIG financing and quality homes at better prices for our members,” Acosta said.
She said Pag-IBIG, also known as the Home Development Mutual Fund (HDMF), has raised its housing loan limit to P10 million and introduced lower promotional rates as it hoped to complement these with preferential prices and meaningful offers from Filinvest.
“By working together, we can give our members more choices and more practical means to take that next step toward owning a home,” Acosta said.
Housing Secretary Jose Ramon Aliling, who chairs Pag-IBIG’s board of trustees, said the partnership builds on the gains already achieved under expanded 4PH as the government continues to collaborate with the private sector to broaden access to affordable housing.
“Under the president’s expanded 4PH program, we have already made significant progress in bringing more affordable housing opportunities within reach of Filipino families, and we are building on this momentum,” Aliling said. “With more reputable companies now partnering with Pag-IBIG Fund, Filipino workers will have more housing choices supported by affordable financing and better opportunities to own a home.” Aliling witnessed the signing of a memorandum of understanding formalizing the partnership between Acosta and FLI President and CEO Tristan Las Marias with Pag-IBIG Deputy CEO Alexander Hilario Aguilar and FLI Residential Business head Mary Averose Valderrama serving as witnesses.
The officials said qualified Pag-IBIG Housing Loan borrowers may enjoy preferential pricing on select units in participating Pag-IBIG-accredited Filinvest projects.
Prospective homebuyers may also benefit from Pag-IBIG’s increased housing loan limit of up to P10 million; the subsidized 3-percent per annum interest rate for qualified socialized housing borrowers under expanded 4PH; and promotional rates of 4.5 percent per annum for loans up to P4.9 million and 5.75 percent per annum for loans above P4.9 million and up to P10 million, they said.
The agreement combines Filinvest Land’s residential developments with Pag-IBIG’s housing finance programs to give qualified homebuyers more options on the path to homeownership, Las Marias said.
“Our partnership with Pag-IBIG Fund allows us to help more Filipino families move closer to owning a home by giving qualified buyers access to financing options and incentives across select Filinvest Land developments,” he said.
“Through this collaboration, we also hope to support the Expanded 4PH Program by widening access to quality and affordable housing, and giving more Filipinos the opportunity to build a home of their own.” The HDMF said the partnership will also bring housing opportunities and Pag-IBIG services closer to prospective homebuyers through home-matching activities, housing fairs, property exhibits and information sessions.
It also provides housing loan orientations and assistance to interested members while FLI will identify participating projects and available units that members may consider, subject to applicable program guidelines.
Acosta said the agreement with FLI was part of Pag-IBIG’s continuing efforts to strengthen partnerships with the country’s leading developers and expand the range of homes available to its members.
In recent weeks, she said the agency has also partnered with SM Development Corp., and Ayala Land residential brands Avida Land and Amaia Land, further broadening private-sector participation in support of the Marcos administration’s national housing program.
Other Pag-IBIG officials in attendance included acting Deputy CEO Marcial Pimentel Jr., Senior Vice President Fermin Sta. Teresa Jr., and acting Vice Presidents Jose Robert Po and Tina Marie Gabiosa.
The FLI was also represented by operations head Reynaldo Juanito Nieva II, Chief Marketing Officer D’Artagnan Aguilar, and other residential sales and marketing executives.
