Pag-IBIG Fund provides moratorium, mortgage insurance following the Mindanao earthquake

The Pag-IBIG Fund is offering a one-month payment moratorium and reminding borrowers of their Housing Loan insurance to help members recover from the damage caused by the recent 7.8 magnitude earthquake in Mindanao, officials announced Thursday.

Secretary of the Department of Human Settlements and Urban Development and Pag-IBIG Fund Board Chairman Jose Ramon P. Aliling said these measures demonstrate the continued commitment of the Pag-IBIG Fund to provide responsive support to Filipino workers affected by disasters, as the government accelerates aid and rescue efforts in disaster-hit areas under the leadership of President Ferdinand R. Marcos Jr.

“President Marcos urged government agencies to act with urgency and compassion in helping our fellow Filipinos who have been hit by disasters,” Aliling said. “In response, Pag-IBIG Fund offers a one-month payment suspension to help reduce the financial burden of mortgage borrowers affected by the earthquake in Mindanao. At the same time, borrowers whose homes were damaged by the earthquake may file claims under their Pag-IBIG Housing Loan insurance, which can help cover the cost of repairs.”

“We want our members to know that the government and the Pag-IBIG Fund are here,” Aliling added. “With payment suspension, they can prioritize the safety and recovery of their families, and the insurance under their Pag-IBIG Housing Loan can help cover the cost of repairing their homes.”

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the Pag-IBIG Fund makes it easy to apply for moratoriums at any Pag-IBIG Fund branch or through the Virtual Pag-IBIG, while also providing accessible channels for borrowers filing insurance claims under their Pag-IBIG Housing Loan.

“We understand that after disasters, families need time and support to focus on what is most urgent: their safety, their homes and their loved ones,” said Acosta. “This one-month moratorium is intended to give affected borrowers less financial anxiety as they recover. To make assistance easier to access, they can apply at any Pag-IBIG Fund branch or through Virtual Pag-IBIG, free of charge and without penalties or additional interest during the approved moratorium period. Their repayment period will simply be extended accordingly.”

Acosta said the moratorium will be made available to eligible borrowers and consumers who use their place of work or business, mortgaged property, or property subject to installment sales located in areas declared under a state of calamity due to the earthquake in Mindanao. Meanwhile, claims under Pag-IBIG Housing Loan insurance can be filed at any Pag-IBIG Fund branch or through the agency’s official email address, [email protected].

In addition to insurance and moratorium, Pag-IBIG Fund also offers its Calamity Loan and Home Improvement Loan at affordable rates.

Under the Pag-IBIG Calamity Loan, eligible members living in areas declared under a state of calamity may borrow up to 90 percent of their total Pag-IBIG General Savings at a low interest rate of 5.95 percent per annum, the lowest among similar programs. The loan is payable for up to three years, with an automatic grace period of three months before the first payment.

With the Pag-IBIG Home Improvement Loan, eligible members can borrow up to ₱300,000 for repairs or improvements. The loan is repayable over five years and is currently offered at a promotional rate of 3 percent per annum to the first 10,000 borrowers.

Acosta said Pag-IBIG Fund services are also available through its online channels, operational branches, and Lingkod Pag-IBIG on Wheels, which can be deployed to bring the best services closer to the affected members.

“We know that recovering from a disaster takes time, resources and support,” Acosta said. “In support of President Marcos’ call to bring aid closer to other disaster-affected Filipinos, the Pag-IBIG Fund ensures that our members have access to various forms of assistance, from temporary down payment assistance and quick cash assistance, to insurance support and affordable home repair financing. We are here to help make housing recovery easier, faster, and more affordable for them.”

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