CEBU — John Bernard Baricar spent years renting in Talisay City, setting aside money to support his parents. At 35 and a single father to a young son, owning a home once felt out of reach. Today, he is one of the buyers at the Cebu City Residential Park in Barangay Pulangbato, a Pag-IBIG Fund-accredited project under the national government's 4PH program.
From Renting to Owning
Baricar learned about the project from a friend. He said the payment terms allow him to cover household expenses without draining his savings. "It's cheaper than renting in the city, and it's easier for me to invest in property this way," he said. "We don't have to worry about monthly rent anymore. It's still affordable, and it's a good investment."
Maricel, 44, of Lapu-Lapu City, initially did not expect much. A homemaker with three homeschooled children, she changed her mind after seeing the model unit during an open house. "Even though I'm not used to this kind of project, I'm happy and excited," she said.
Affordable Terms Through Government Subsidy
The 4PH program is the national government's flagship housing initiative, run by the Department of Human Settlements and Urban Development with Pag-IBIG Fund, local governments, and private developers. It lowers monthly payments through a government interest subsidy.
Monthly amortization at the Cebu City Residential Park starts at P8,010.48, based on a subsidized interest rate of 3 percent over a 30-year loan term, according to Pag-IBIG Fund. Insurance premiums and other fees are computed upon loan application. Each unit covers 27 square meters with two bedrooms, and units under the expanded 4PH program have a target ceiling price of P1.8 million to P1.9 million.
A Community Taking Shape
The project, built by Deo Homes and Property Development Inc., has 19 buildings and about 3,500 units. It includes roughly 5,000 square meters of open space, a swimming pool, and a pickleball court. Parking is set at one space for every eight units. The development is the first 4PH project built in Cebu.
Marivic Agot, Pag-IBIG Fund Visayas vice president for member services operations, said the project supports Filipinos who lack the chance to build a decent house. Those who cannot visit the Pulangbato site may go to any Pag-IBIG branch in Cebu to schedule a site visit. A model unit is open for viewing.
Connecting Buyers to Opportunities
The Cebu City Residential Park is a tangible example of how public and private cooperation can expand homeownership. For buyers seeking similar opportunities across the country, platforms like homes.ph provide a transparent way to discover properties, compare options, and connect with licensed practitioners. Homes.ph operates through more than 100 branches and works with over 10,000 real estate professionals nationwide.
Pag-IBIG Fund also accepts online registration for the 4PH program. Registering does not guarantee approval as a beneficiary. Applicants may reach Pag-IBIG Fund through its website, hotline at 8724-4244, or email at [email protected].
