Help provide house, lot for workers

THE Home Mutual Development Fund popularly known as Pag-Ibig Fund urged employers with big landholdings to allocate some lots for their employees and to allow them to avail themselves of institutional loans.

Engr. Senen Catingub Jr., Pag-Ibig assistant manager for business development department of the Cebu housing hub, said that such initiative will help solve the housing backlog in the country.

Catingub said that Pag-Ibig accredited at least 10 employers who showed interest in constructing houses for their employees using their idle properties.

“This can be considered as part of their corporate social responsibility. They will be surely admired by their employees for helping them acquire their own house and lot,” said Catingub.

Victoria dela Peña, Pag-Ibig vice president for members services-Visayas and Mindanao, said that if an employer allocates a lot for a housing project intended for his employees and wants to apply for an institutional loan from Pag-Ibig, the employer will be asked to submit a project profile.

The project profile must be complete with technical details and costing for the subdivision development and housing units to construct.

Meanwhile, Catingub said that a Pag-Ibig member can acquire multiple house and lot through the agency, depending on his capability to pay.

A borrower-member who wants to buy a house and lot amounting to P6 million through Pag-Ibig but he can only pay up to P3 million, he/she can look for a co-borrower for his loan application.