Manila: Three government employees in Baguio and Benguet have become full homeowners after the Government Service Insurance System (GSIS) awarded them land titles under its housing program, supporting the national government's push to expand access to affordable housing.

According to Philippines News Agency, GSIS President and General Manager Wick Veloso led the awarding of Transfer Certificates of Title to Imelda Cristeta Villamar of the Philippine Health Insurance Corp. - Cordillera Region, Aurora Valbuena of the Municipal Trial Court in Cities - Baguio, and Lorna Bandonill of the GSIS Baguio Branch Office. This initiative forms part of the agency's contribution to President Ferdinand R. Marcos Jr.'s Pambansang Pabahay para sa Pilipino (4PH) Program.

"Behind every title is a family that can now plan with confidence, live with peace of mind, and say with certainty that this home is theirs," Veloso stated. GSIS indicated that the beneficiaries acquired their properties through its Lease with Option to Buy (LWOB) program, which allows qualified members to lease GSIS-acquired properties before purchasing them without a down payment.

The program offers repayment terms of up to 25 years, lower interest rates than commercial banks, and penalty condonation for qualified members who continue paying their housing obligations. "We know that the down payment is often what prevents many members from taking the first step toward owning a home. Through the Lease with Option to Buy program, we removed that barrier," Veloso added.

The state pension fund reported that the LWOB program has helped more than 5,000 families nationwide become full homeowners. It has also made more than 12,000 acquired assets available for acquisition, including 22 properties in the Cordillera Region-17 in Baguio City, two in Itogon, two in La Trinidad, and one in Tuba, Benguet.