The National Home Mortgage Finance Corporation (NHMFC) is a government-owned and controlled corporation (GOCC) under the Department of Human Settlements and Urban Development (DHSUD) of the Philippines. It was created in 1977 by virtue of Presidential Decree No. 1267, with the mandate of increasing the availability of affordable housing loans to finance Filipino homebuyer’s on their acquisition of housing units through the development and operation of a secondary market for home mortgages.
NHMFC’s mandate is to increase the availability of affordable housing loans to finance the Filipino homebuyer’s on their acquisition of housing units through the development and operation of a secondary market for home mortgages.
NHMFC’s main activities include:
- Mortgage origination: NHMFC originates and sells housing loans to qualified borrowers.
- Mortgage securitization: NHMFC pools and securitizes housing loans into mortgage-backed securities (MBS).
- Housing finance research and development: NHMFC conducts research and development on housing finance issues.
- Housing finance education and advocacy: NHMFC educates the public about housing finance and advocates for policies that promote affordable housing.
NHMFC has played a significant role in the development of the Philippine housing finance system. It has helped to make housing loans more affordable for Filipinos, and it has helped to increase the number of Filipinos who own their own homes.
NHMFC offers a variety of housing loan products, including:
- Home Loan Program – This is a loan program that provides financing for the purchase of a residential real estate property.
- Housing Loan for OFWs – This is a loan program that provides financing for the purchase of a residential real estate property by overseas Filipino workers (OFWs).
- Renovation Loan Program – This is a loan program that provides financing for the renovation of an existing residential real estate property.
- Home Improvement Loan Program – This is a loan program that provides financing for the improvement of an existing residential real estate property.
- Home Equity Loan Program – This is a loan program that provides financing for the use of the equity in an existing residential real estate property.
To avail of an NHMFC housing loan, you must meet the following requirements:
- Must be a Filipino citizen.
- Must be at least 21 years old.
- Must have a minimum monthly income of PHP 25,000.
- Must have a good credit standing.
NHMFC housing loans are considered to be safe and secure. NHMFC is a government-owned and controlled corporation, and its housing loans are backed by the full faith and credit of the Philippine government. This means that if you default on your loan, NHMFC will be able to collect the amount due from you.
NHMFC housing loans are also competitive in terms of interest rates and terms. NHMFC offers interest rates that are lower than those offered by commercial banks, and its loan terms are more flexible. This makes NHMFC housing loans a more affordable option for homebuyers.
If you are looking for a safe and affordable housing loan, then NHMFC is a good option to consider. NHMFC offers a variety of housing loan products that can meet your needs, and its loans are backed by the full faith and credit of the Philippine government.
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Disclaimer
The information on this website is for informational purposes only and is not intended to be a substitute for professional advice. The website owner is a real estate agent and may be compensated for providing information on this website. The website owner is not responsible for any errors or omissions in the information on this website. The website owner makes no representations or warranties about the accuracy, completeness, or suitability of the information on this website for any particular purpose. The website owner shall not be liable for any loss or damage arising from the use of this website.
The website owner encourages you to consult with a qualified professional before making any decisions about your real estate needs.
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