THE Subdivision and Housing Developers Association (SHDA), together with the Pag-IBIG Fund (Pag-IBIG), has urged several groups and employers to access the Affordable Housing Financing Program through the mass and group sale of the Fund of its acquired assets.
“For over 50 years, SHDA has stood firm, not only in articulating the defense of the real estate sector, but also in supporting the well-being of member developers and providing its members with more opportunities. Pag-IBIG, on the other hand, is SHDA has been a partner in providing affordable home equity financing to our kababayans, “said SHDA National President May Rodriguez at the fourth Kapihan Zoom Own a Home for Less event: Pag-Ibig Fund acquired wholesale assets .
Pag-IBIG stressed that part of its mandate is to ensure that real estate loan programs take into account all stakeholders involved and that they meet both the supply and demand of the real estate sector.
“This is why we manage the Pag-IBIG Fund cautiously to keep our interest rates and affordable home loans low and why we have inclusive programs that cater to all Filipino workers, including the socialized real estate market.” , Marilene Acosta, Pag-IBIG Fund said the Deputy CEO of Home Lending Operations Cluster.
Kapihan’s discussion focused primarily on how members can purchase Pag-IBIG Funds’ wholesale and group sale of its acquired real and other properties through their contributions to the Pag-Ibig fund.
Members are entitled to a 40 to 45 percent discount upon approval of their property loan worth at least £ 10 million. For regular wholesaling, buyers should avail of at least £ 10 million worth of properties through Buyer Initiated Wholesaling Negotiated Selling (BIBS).
Pag-IBIG also urged buyers to buy properties in bulk for a much higher discount rate of 40 percent for P10 to P50 million approved properties; 42% discount for more than P50 million to P100 million; and 45% for sales over £ 100 million for both regular wholesale and BIBS.
It further clarified that if buyers fail to secure £ 10 million worth of properties on the first try, they still have the right to bid or make another claim on three consecutive attempts within five subsequent property listings for. meet the maximum prices set by Pag-IBIG to benefit from the discounts.