Manila, Sept. 8 -- Pag-IBIG Fund and SM Development Corp. (SMDC) on Tuesday signed a memorandum of understanding to widen the range of SMDC homes that qualified members may purchase through the agency's housing loans.

Under the MOU, qualified borrowers may receive preferential pricing on selected units in participating Pag-IBIG-accredited SMDC projects.

The partnership also covers buyer education and planned homebuyer programs to help prospective buyers understand their housing options, Pag-IBIG financing, and application requirements.

Qualified members may avail themselves of Pag-IBIG housing loans of up to PHP10 million.

Promotional rates of 4.5 percent on loans of up to PHP4.9 million, and 5.75 percent on loans above PHP4.9 million...