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Copyright©2007 Social Housing Finance Corporation
Copyright©2007 Social Housing Finance Corporation
What is the Abot-Kaya Pabahay Fund (AKPF) all about?
The AKPF is a program provides affordable housing packages to low-income families in different localities of the country that have urgent housing needs. This program disposes assistance to localities identified by the government as priority areas in relation to socio-economic infrastructure and low-cost housing development. The funding assistance serves as seed capital for the development of property and construction of housing units. The loan, however shall be used to purchase land and to settle existing encumbrance/lien on the property.
The AKPF is a program provides affordable housing packages to low-income families in different localities of the country that have urgent housing needs. This program disposes assistance to localities identified by the government as priority areas in relation to socio-economic infrastructure and low-cost housing development. The funding assistance serves as seed capital for the development of property and construction of housing units. The loan, however shall be used to purchase land and to settle existing encumbrance/lien on the property.
How can one qualify for the AKPF?
The loan is drawn on the basis of the optimum requirement of the project, which is determined both by SHFC and the borrower. This is also available to private developers, NGOs, landowners in a tie-up with a prequalified contractor/developer and government interest.
In gist, the applicant-borrower should pass the SHFC accreditation standards.
The loan is drawn on the basis of the optimum requirement of the project, which is determined both by SHFC and the borrower. This is also available to private developers, NGOs, landowners in a tie-up with a prequalified contractor/developer and government interest.
In gist, the applicant-borrower should pass the SHFC accreditation standards.
What are the salient features of the program?
The applicable interest charge is at nine percent (9%) per annum. The loan is released on a staggered basis depending on production schedule and collateral coverage. It matures within 36 months after each drawdown. The property, however, is valued up to 80 percent of its worth at all times. Extra collateral or tract of land or property not subject to development shall be assigned of its worth.
The applicant-borrower shall pay a non-refundable processing fee of P10,000.00. The process flow for evaluation are subjected to legal, technical, financial and market requirements.
The applicable interest charge is at nine percent (9%) per annum. The loan is released on a staggered basis depending on production schedule and collateral coverage. It matures within 36 months after each drawdown. The property, however, is valued up to 80 percent of its worth at all times. Extra collateral or tract of land or property not subject to development shall be assigned of its worth.
The applicant-borrower shall pay a non-refundable processing fee of P10,000.00. The process flow for evaluation are subjected to legal, technical, financial and market requirements.
