In compliance with government policy to extend assistance to families affected by calamities such as typhoons Ondoy and Pepeng and families living in danger areas, the National Housing Authority (NHA) released the guidelines on loan availment for the completion of partially developed lots and partially developed units in NHA projects, and financing for the acquisition of developed lots in privately developed properties. The guidelines are contained in NHA Memorandum Circular No. 2257 dated December 7, 2009.
Under the MC, affected families of awarded lots and/or housing units in NHA owned or administered projects requiring the full development of partially developed lots can secure a loan from NHA in an amount not exceeding P100,000 per lot; while those requiring completion of partially completed housing units may secure a loan in an amount not exceeding P75,000 per housing unit.
On the other hand, affected families in privately developed properties may avail of a loan not exceeding P100,000 to acquire a developed lot; and P75,000 to acquire a completed housing unit.
Said loans are payable within a maximum period of thirty years. Loans for housing units are interest free while a six percent interest rate per annum from the 6th to the 30th year will be charged to loans for developed lots. First amortization payment shall commence one year after occupancy of the lot/unit.
The financing assistance extends to qualified families in accordance with the Terms of Reference (TOR) under the Community Initiative Approach (CIA) program approved by the NHA Board under Resolution No. 5210.
Among others, the TOR sets the guidelines, design standards and technical requirements for the development of permanent resettlement site for families affected by calamities such as massive flooding, typhoons, volcanic eruption, and those living in danger zones, waterways, rivers, shorelines, esteros, creeks, and the like.
The identified resettlement sites may either be owned by NHA under its present inventory of resettlement sites or administered properties of the NHA or LGUs concerned, or privately developed sites.
Also contained in the TOR are guidelines, requirements and procedure for the financing of the acquisition of completed housing units and financing of the completion of partially completed housing units. Under said guidelines, NHA shall finance the construction of completed housing units by Constructors selected by the community association and accredited by NHA; or the completion of partially completed housing units through the CIA program.
