THE Home Development Mutual Fund (HDMF), or Pag-IBIG Fund, has partnered with the Naga City government to make it possible for the city employees — especially those under lower salary grades — to own affordable homes.
Pag-IBIG Fund CEO Marilene Acosta emphasized that the Naga project exemplifies how national and local governments can collaborate with the private sector to make affordable homeownership more accessible to working Filipinos.
“This initiative comes as Pag-IBIG Fund further strengthens its collaboration with Ayala Land, most recently through a memorandum of understanding with its residential brands Avida and Amaia to expand quality housing choices and Pag-IBIG financing options for Filipino workers,” Acosta said.
She said the project, which was particularly designed to assist government workers who are first-time homebuyers, seeks to break down long-standing barriers to affordable housing and financing.
Former vice president and now Mayor Leni Robredo described the project as the fulfillment of a long-held aspiration to provide city employees with viable housing opportunities — particularly those who had previously found homeownership beyond their reach.
“For many years, it has been our aspiration to provide housing opportunities for our city government employees, but affordability has always been a challenge, especially for those in the lower salary grades,” Robredo said.
“Through our partnership with Pag-IBIG Fund and BellaVita, that aspiration is now becoming a reality. With Pag-IBIG Fund providing affordable financing terms and a subsidized 3-percent interest rate, we were able to make homeownership possible for employees who previously could not afford it,” the city chief executive said.
The Naga City Employees’ Housing Project initially covers 576 housing units at BellaVita Naga in Barangay Pacol, each priced at an accessible P350,000, the agency said.
To further ease the financial burden, the HDMF chief executive said that qualified employees may purchase these homes through Pag-IBIG Housing Loans at a subsidized interest rate of just 3 percent per annum for the first five years, under the expanded Pambansang Pabahay Para sa Pilipino (4PH) program.
The Naga mayor cited the speed with which the partnership has delivered results.
“Just two months after signing our agreement, more than 100 housing loan accounts have already been taken out, and we are very happy to see our employees and their families becoming homeowners,” Robredo said.
She expressed optimism about completing the takeout of all 576 housing units by October, with plans to eventually extend the same opportunity to teachers, uniformed personnel and other workers in Naga — including those in the informal sector who are also Pag-IBIG members.
Robredo also conveyed her appreciation to Housing Secretary Jose Ramon Aliling for his leadership in advancing the 4PH program and expanding affordable homeownership opportunities for Filipino workers.
The turnover ceremony coincided with Jesse Robredo Day, a tribute to the former city mayor and interior secretary, honoring his enduring legacy of good governance, leadership and selfless public service.
Acosta said the partnership was formalized in mid-June through a memorandum of understanding between the agency and the local government.
Subsequently, Pag-IBIG, city government and BellaVita established a government-to-government documentation arrangement to streamline loan processing and facilitate the swift takeout and turnover of homes to qualified employee-beneficiaries.
The top Pag-IBIG official emphasized that the initiative was in compliance with the directive of President Ferdinand Marcos Jr. to widen access to affordable homeownership for working Filipinos, including government employees who devote their careers to public service.
“This is the one-government approach we are advancing, with the national and local government working together to help more Filipinos become homeowners and build better, more dignified lives,” Acosta said.
She expressed her gratitude to Robredo and the city government for their collaborative spirit.
“For us, partnerships should lead to more than agreements on paper. What matters most is seeing our members receive the keys to homes of their own and knowing that, through our shared efforts, more Filipino families are gaining the security and opportunity to build better lives,” she added.
