The Home Development and Mutual Fund or Pag-IBIG Fund has several programs to address the housing requirements not only of its members but of private developers as well.  These include:

a.  Credit Facility for Individual Members

This is a financing program for active Pag-IBIG members here and abroad who have completed the necessary monthly contributions.  The housing loan may be used to purchase a fully developed lot or house and lot, purchase of lot and construction of a residential unit thereon, construction or completion of a house on a lot owned by the member, home improvement, and refinancing of an existing mortgage with an institution acceptable to Pag-IBIG.

Under this program, Pag-ibig members may borrow up to P2.0 Million housing loan, which shall be paid at a maximum of thirty (30) years.  The prevailing interest rates under the Abot-Kamay Pabahay Program, which were approved by the Board in 23 November 2006 are as follows:

Loan Ceiling	Interest Rate (p.a.)
Up to P 300,000	6%
Over P 300,000 – P 750,000	7%
Over P 750,000 – P 2,000,000	10.5%

b.  Facilities for Private Developers

  The Pag-ibig Credit Facility for Developers aims to provide a liquidity mechanism for private developers to enable them to continue developing housing projects pending the take-out of delivered and complete housing loan applications.  Under this facility are several schemes which the developer may avail of such as:

-  Pag-IBIG Developmental Loan Program, which seeks to create additional housing inventories through the provision of developmental financing at easier terms and lower rates to developers or proponents of housing projects.     

-  Pag-IBIG City Program, which provides a ready inventory of completed housing units in a project to be known as a Pag-IBIG City, which shall be available for sale at more affordable prices to Pag-IBIG members.

This program also intends to lower the project financing costs for housing development since HDMF shall provide a faster turnaround of the developer’s investment, thereby increasing his capacity for housing production. This shall redound to the benefit of Pag-IBIG members in terms of lower priced housing packages.

-  Takeout Mechanism under The Developers’ CTS/REM Scheme

In order to fast track the government’s housing program, Pag-IBIG opened the takeout mechanism under the developers Contract To Sell/Real Estate Mortgage (CTS/REM) mechanism by providing an express take-out window for accredited developers who meet the standards set by Pag-IBIG Fund for project development and house construction.

The program aims to enhance the asset quality of the Pag-IBIG mortgage loan portfolio by instituting a credit risk-sharing mechanism with housing developers.  It also defines the parameters in the allocation and disbursement of funds allocated for housing, specifically for developer-assisted member-loans.

-   Program for the Development of Medium/High-Rise Condominium Building (MHRB) Projects in Metro Manila and Highly Urbanized Cities

This program aims to provide a ready inventory of condominium units for sale at more affordable prices to eligible Pag-IBIG members in the Metro Manila area and highly urbanized cities.  Through this program, Pag-IBIG members who are working in the Metro Manila area and highly urbanized cities will have an opportunity to acquire condominium units in the area, thereby reducing transportation costs to and from their places of habitat.

Through a faster turnaround of their investments in the construction and development of medium/high-rise condominium buildings in the Metro Manila area and highly urbanized cities, this program will provide developers with a liquidity mechanism that will increase their capacity for housing production and reduce project financing costs.

c.   Developmental Housing Loan Program For Local Government Units

This program is geared towards sustaining the capabilities of LGUs to fast track the development and implementation of housing projects in their respective localities, and to make housing accessible and affordable for its employees and constituents.

d.   Group Land Acquisition And Development (Glad) Program

The GLAD Program aims to provide financial assistance to organized groups of formally employed Fund members for the acquisition and development of rawland or partially developed land, which shall serve as the site of their housing units.