A house for as low as P2,400 a month in amortization?
This is made possible by a preferential 1 percent interest rate on housing by the Social Housing Finance Corp. ( SHFC) in support of the government’s Pambansang Pabahay Para sa Pilipino (4PH) program.
Federico Laxa, president and chief executive officer of SHFC, told the Laging Handa public briefing yesterday the Department of Housing and Urban Development (DHSUD) is readying more projects after the launch last Monday of Crystal Peak Estates, a 10-hectare development in San Fernando, Pampanga under 4PH.
These include People’s Ville in Davao; Valley View in Tagoloan, Misamis Oriental; La Vista Homes in TarLac City and; Sta. Mesa Homes in Sta. Mesa, Manila.
SHFC is a key shelter agency of DHSUD.
According to Laxa, while SHFC is focused on the 4PH program, it is also actively working on the Community Mortgage Program and the special programs for Marawi as well as the relocation of information settlers on the South Commuter rail system.
Crystal Peak Estates offers 10,250 units measuring 24 square meters and 28 sq.m. in 27 buildings spread across the property.
The housing project gives priority to police and military personnel, overseas Filipino workers and government workers.
At a 1 percent interest rate instead of 6 percent, a 24-sq.m. unit valued at P1.6 million can be paid in monthly amortization of P2,400. The 28-sq.m. unit is worth P2.7 million.
These costs are nowhere near the prevailing price of condominium units of similar size in the city at P5.5 million to P6 million. Irma Isip
