The residential businesses of Ayala Land Inc., Avida Land Corp. and Amaia Land Corp., are looking to make more homes accessible to Filipino workers through special financing rates under a new partnership with Pag-IBIG Fund.
The agreement will allow the parties to explore special rates for selected Avida and Amaia homes that qualified Pag-IBIG members can finance through housing loans of up to P10 million.
The partnership could widen the pool of potential buyers by combining Ayala Land’s residential projects with Pag-IBIG Fund’s large membership base and expanded financing capacity.
Lower borrowing costs and the higher loan ceiling could give middle-income households more flexibility in choosing homes.
The agreement also covers the registration and accreditation of selected projects for Developer-Assisted housing loan processing, including qualified Amaia projects under the government’s Expanded 4PH program. The parties will also work to simplify documentation, loan processing, and the release of loan proceeds.
Pag-IBIG Fund has expanded its financing options. Qualified socialized housing borrowers can access a subsidized 3 percent interest rate, while eligible buyers of homes above the socialized housing ceiling may avail themselves of promotional rates of 4.5 percent or 5.75 percent, depending on the loan amount.
Pag-IBIG Fund CEO Marilene C. Acosta, Avida Land President Raquel S. Cruz, and Amaia Land Vice President Aris C. Gonzales signed the agreement, witnessed by Department of Human Settlements and Urban Development Secretary Jose Ramon P. Aliling and Ayala Land President and CEO Meean B. Dy.
The tie-up comes as the government seeks greater private-sector participation in its housing program and developers look for ways to broaden demand.
The bigger loan ceiling and potentially lower rates could prove important in a market where affordability remains a key hurdle. Easier access to financing can shorten the distance between housing demand and actual purchases, particularly among middle-income families.
