Pag-Ibig raises housing loan limit to P10M

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MANILA, Philippines – The Pag-IBIG Fund raised its maximum housing loan limit to P10 million to improve home affordability, especially in Metro Manila and other urban areas.

This comes as the government moves to address the growing condo oversupply, with Colliers Philippines estimating about 30,000 unsold ready-for-occupancy units in Metro Manila alone.

READ: Pag-IBIG Fund profits climb 11% to P16.7B in Q1

The new ceiling, up from P6 million, may still be paid over up to 30 years, with interest rates ranging from 5.75% to 9.75% depending on the fixing period.