THE Home Development Mutual Fund (HDMF), or Pag-IBIG Fund, and SM Development Corp. (SMDC) have partnered in a bid to broaden the range of SMDC properties accessible to qualified members through the former’s housing loans.
The agreement also includes preferential pricing on select units, buyer education initiatives and tailored homebuyer programs, Pag-IBIG CEO Marilene Acosta said on Wednesday.
Acosta said the partnership enhances Pag-IBIG’s mission of making suitable homes more accessible.
“Affordable financing fulfills its purpose only when members have viable home options. Through our tie-up with SMDC, more workers can choose based on their family’s needs, location preferences and budget, then finance their purchase affordably through Pag-IBIG,” she said.
Its promotional rates — 4.5 percent for loans up to P4.9 million and 5.75 percent for loans from P4.9 million to P10 million — are available to qualified borrowers until year-end, according to HDMF.
“This is part of our holistic approach: beyond financing, we collaborate closely with developers to ensure more homes are built that truly meet the needs and means of Filipino workers,” the Pag-IBIG chief executive said.
Housing Secretary Jose Ramon Aliling, who chairs Pag-IBIG’s board of trustees, said the collaboration deepened the private-sector engagement under President Ferdinand Marcos Jr.’s expanded Pambansang Pabahay Para sa Pilipino (4PH) program.
By channeling Pag-IBIG financing toward projects from leading developers, the initiative seeks to offer middle-income Filipino workers greater access to quality, well-located homes that match both their lifestyles and budgets, Aliling said.
Moreover, the housing czar said SMDC’s involvement reflects how expanded, affordable financing is translating into tangible housing choices.
Acosta said that under the memorandum of agreement, SMDC will extend preferential pricing to eligible Pag-IBIG borrowers for selected units in accredited projects.
The current lineup includes Coast Residences and ICE Tower in Pasay City, Spring Residences in Parañaque, select phases of Hill Residences in Quezon City, and SMDC Cheerful Homes 1 and 2 in Pampanga.
