The National Home Mortgage Finance Corp. (NHMFC) has signed a memorandum of agreement (MOA) with AQUIRA Land Development Corp. (ALDC) under NHMFC’s Housing Loan Receivables Purchase Program.
Under the agreement, NHMFC purchases AQUIRA Land’s future receivables from individuals or groups that purchase homes from them. Thereafter, these customers will pay NHMFC for their homes monthly, at low interest rates, over long periods of time.
This will allow ALDC to remain liquid and to continue to build as well as start more projects, and NHMFC to fulfill its mandate of providing affordable financing for housing for low-income Filipinos.
AQUIRA Land has a pilot project on a 16-hectare property in Barangay Sampaloc, Tanay, Rizal.
ALDC aims to build 2,600 units in three years.
The project is set to break ground before the second half of the year.
