LOAN ASSISTANCE

Housing Loan Assistance in Davao City: Your Path to Homeownership

Owning a home is a dream for many Filipinos, and Davao City offers several resources to help make this dream attainable. Here's a guide to the main housing loan assistance programs in the city:

Government-Backed Programs

• Pag-IBIG Fund Affordable Housing Program: This program is specifically designed for low- to middle-income earners. It offers very low-interest rates, flexible payment terms (up to 30 years), and minimal down payment requirements.
  • Visit your local Pag-IBIG Fund branch or their website for details: https://www.pagibigfund.gov.ph/AffordableHousingLoan.html
• National Housing Authority (NHA): The NHA provides housing assistance programs for various income groups, including socialized housing options for the most economically disadvantaged.
  • Contact the NHA Region 11 Office: (082) 221 0832 or visit their website: http://nha.gov.ph/
• Social Housing Finance Corporation (SHFC): The SHFC's Community Mortgage Program (CMP) assists organized communities to acquire land and financing for housing projects.
  • Learn more on their website: http://www.shfcph.com/

Local Government Programs

• City Planning and Development Office (CPDO): The CPDO's Housing and Homesite Division assists with applications for housing programs and provides guidance on affordable housing options within the city.
  • Visit their website for more information: https://cpdo.davaocity.gov.ph/index.php/services/

Private Banks and Financial Institutions

Many banks in Davao City offer housing loans with varying terms and interest rates. Some popular options include:

• BDO Unibank
• Bank of the Philippine Islands (BPI)
• Metrobank
• Security Bank
• And many more

Cooperatives

• Agdao Multipurpose Cooperative: This cooperative provides loans and financial assistance programs to its members, including housing-related options.
  • Get details on their website: https://agdaocoop.com/

Tips for Finding the Right Housing Loan

• Compare, Compare, Compare: Don't settle for the first offer. Shop around at different institutions and thoroughly compare loan terms, interest rates, and fees.
• Eligibility: Carefully check eligibility requirements for each program before applying to save time and effort.
• Documents: Start gathering necessary documents early in the process, as loan applications often require extensive paperwork.

Additional Resources:

• Davao City Government Website (https://www.davaocity.gov.ph/) provides information on local housing initiatives and programs.
• Real estate developers: Many developers partner with banks or offer in-house financing schemes, which may provide more flexibility.

Disclaimer: This information is a starting point; always contact the relevant institutions directly for the most accurate and up-to-date assistance.