Tag Archives: Home Development Mutual Fund

Pag-ibig Fund now covers condo units: official

Some condominium units can now be acquired through a Home Development Mutual Fund (HDMF) or Pag-ibig Fund loan, executives of the housing agency of the Philippines said.

Anthony Maglunsod, Pag-ibig’s assistant manager of operations for Cebu City South, said they’ve raised the loan ceiling from P3 million to P6 million.

Condo units, not previously affordable under the Pag-ibig Fund program, are now covered, he explained.

An artist rendition of the completed 18-storey City Loft by Fuente Triangle. (Photo from Fuente Triangle website)

An artist’s rendition of the completed 18-storey City Loft by Fuente Triangle. (Photo from Fuente Triangle website)

“As long as the member or borrower can pay the monthly amortization, he or she could avail of a condo loan,” he pointed out.

One of the condominium developments that can be acquired through a Pag-ibig loan is the 18-storey City Loft along Gen. Maxilom Avenue, which its developer Fuente Triangle Realty Development Corp. plans to complete by end of 2013.
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Pag-ibig says seminar not anymore required for housing loans

Since last year, the Home Development Mutual Fund (HDMF) Visayas Group has done away with the half-day seminar for those interested in taking out a housing loan.

Victoria de la Peña, HDMF vice president for the Visayas, said prospective borrowers only need to go to their Pag-ibig branch where someone talk them through the basics as well as match their housing needs with their capability to pay.

New Pag-ibig Fund programs in 2013, according to her, will involve encouraging employer companies to provide housing for their employees. She said they can collaborate with Pag-ibig Fund, another name for HDMF, and property developers on how to go about creating a housing program for their workers.
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