An eligible member may avail of a housing loan under either the End-User Financing Program or the Magaang Pabahay, Disenteng Buhay Program.
Under the End-User Financing Program, a member may avail of a loan to finance any of the following (Circular 247):
a. Purchase of a fully developed lot not exceeding one 1,000 square meters, which
should be within a residential area;
b. Purchase of a residential house and lot, townhouse or condominium unit, inclusive
of a parking slot. The unit may be:
• Old or brand new;
• A property mortgaged with the Fund; or
• An acquired asset, which is disposed of through sealed public bidding, negotiated
sale, or the Rent-to-Own Program.
c. Construction or completion of a residential unit on a lot owned by the member;
d. Home improvement, i.e. any alteration in an existing residential unit intended by a
homeowner to be a permanent integral part of the property, which will enhance its
durability and material value;
e. Refinancing of an existing mortgage with an institution acceptable to the Fund,
provided that:
• The loan is not in default within the 12 months prior to the date of application;
• The said loan has a repayment history of at two years with the original mortgagee
f. Combination of loan purposes, which shall be limited to the following:
• Purchase of a fully developed lot not exceeding 1,000square meters and
construction of a residential unit thereon;
• Purchase of a residential unit, whether old or new, with home improvement;
• Refinancing of an existing mortgage with home improvement;
• Refinancing of an existing mortgage, specifically a lot loan, with construction of a
residential unit thereon.
Under the Magaang Pabahay, Disenteng Buhay Program, a qualified member may purchase an acquired asset of the Fund either in cash or through a housing loan at a reasonable price. A buyer who purchases an acquired asset in cash is entitled to a 20% discount on the property’s sales price, while a buyer who purchases through a housing loan is entitled to a 15% discount on the property’s sales price.