The subdivision and the Housing Developers Association (SHDA), together with the Pag-IBIG Fund (Pag-IBIG), have urged several groups and employers to access an affordable shelter financing program through the fund’s wholesale and group sale of acquired assets.
“For more than 50 years, SHDA has been steadfast, not only in voicing advocacy for the housing industry but also in championing the welfare of member developers and providing more opportunities for its members. Pag-IBIG, on the other hand, has been SHDA National Chair Mae Rodriguez said, During the fourth Kapihan Zoom event Own a home at a lower cost: Pag-Ibig Fund acquired for wholesale.
Pag-IBIG emphasized that part of its mandate is to ensure that housing loan programs take into account all relevant stakeholders and that they meet the supply and demand needs of the housing industry.
“This is why we are managing the Pag-IBIG fund wisely to keep our interest rates low and our housing loans affordable, and why we have comprehensive programs that meet the needs of all Filipino workers, including the social housing market,” Marilene Acosta, Pag-IBIG Trust said. Executive Vice President of Home Lending Operations Group.
Kapihan’s discussion mainly focused on how members purchase Pag-IBIG Funds wholesale and the mass sales of its real estate and other properties obtained through Pag-Ibig Fund contributions.
Members are entitled to a discount of 40 to 45 percent upon approval of their loan of at least 10 million pesos of real estate. For regular wholesale sales, buyers must avail at least 10 million pesos of real estate through a negotiated Buyer Initiated Wholesale Sale (BIBS).
Pag-IBIG also urged buyers to buy properties in bulk for a much higher discount rate of 40 percent for approved properties from 10 to 50 million pesos; 42 percent discount for over 50 million pesos to 100 million pesos; and 45 percent for sales over 100 million pesos for both regular wholesale and BIBS.
It also clarified that if buyers fail to secure properties worth 10 million pesos on their first attempt, they will still be entitled to bid or place another order for three consecutive attempts within five consecutive property rollovers to meet the maximum cap set by Pag-IBIG for eligible for discounts.