SM Development Corp. (SMDC) is making more of its housing inventory available to Pag-IBIG Fund borrowers, widening homeownership options for Filipino workers, particularly middle-income earners, through government-backed financing.
Pag-IBIG Fund and SMDC signed a memorandum of understanding on Sept. 8 covering additional SMDC developments that qualified members can purchase through Pag-IBIG Housing Loans.
Under the agreement, eligible borrowers may receive preferential pricing on selected units in participating Pag-IBIG-accredited SMDC projects. The partnership also includes buyer education and planned homebuyer programs to help prospective homeowners navigate property choices, financing options, and loan requirements.
The move comes as the Department of Human Settlements and Urban Development (DHSUD) and Pag-IBIG Fund seek greater private-sector participation in the Marcos administration’s Expanded Pambansang Pabahay para sa Pilipino Program.
The program aims to expand access to quality, strategically located housing, particularly for middle-income Filipino workers whose budgets can limit their choices in the formal housing market.
Pag-IBIG members can borrow up to P10 million under its housing loan program. Qualified borrowers may avail themselves of promotional rates of 4.5 percent for loans of up to P4.9 million and 5.75 percent for loans above P4.9 million and up to P10 million until Dec. 31, 2026.
The partnership could give buyers greater access to homes in areas where property costs make ownership difficult without long-term financing, while giving SMDC a wider pool of potential buyers through Pag-IBIG’s membership base.
It also strengthens the link between private housing supply and government-backed credit, a key component of efforts to address the country’s housing needs.
DHSUD Secretary and Pag-IBIG Board Chairman Jose Ramon P. Aliling witnessed the signing by SM Prime and SMDC President Jeffrey C. Lim and Pag-IBIG Fund CEO Marilene C. Acosta.
SMDC Executive Vice President Grace M. Sta. Ana and Vice President Jessica T. Sy also witnessed the agreement.
The partnership reflects the government’s push to bring more private developers into its housing program and use Pag-IBIG financing to make a broader range of homes accessible to Filipino workers.
