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Checklist of Requirements

SHFC checklist of requirements for localized community mortgage program

Your Browser Doesn't Support Canvas. Showing the Text Content of the PDF Instead: SOCIAL HOUSING FINANCE
CORPORATION
Localized Community Mortgage Program
ELIGIBILITY REQUIREMENTS
Local Government Units [LGUs] (Cities, Municipalities)

 Updated Local Housing backlog inventory;
 Updated Comprehensive Land Use Plan (CLUP)








and updated Comprehensive Shelter Plan (CSP)
approved by the Local Housing Board (LHB);
Functioning LHB;
o Creation of LHB should be at the Local
level with equitable multi sectoral
representation and must have a NonGovernment Organization (NGO)/People’s
Organization (PO) representative involved
in housing and urban development
Functioning
unit
in
charge
of
social
housing/housing programs;
Budget allocation approved by Sanggunian;
Has not exceeded allowable 20% credit carrying
capacity;
Approved Annual Investment Plan (AIP) with
LCMP project/s; and
An updated list of present and previous
beneficiaries of National and local Government
Housing Programs (e.g. National Housing
Authority housing programs, etc.).

Community Association [CA]
 Registered with Housing and Land Use Regulatory
Board (HLURB);
 Prioritized target as reflected in the CSP and AIP;
 Financially Stable; and
o Show at least one (1) year historical
statement of bank account
 Open a savings account to be called the
Community Fund.
o Balance Equivalent to six (6) months
amortization of the LCMP loan
Member-Beneficiaries [MB]
 Bonafide resident of LGU and member of CA;
 Has not yet availed any housing loan;
 Do not own or co-own any housing unit; and
 Eligible under Community Mortgage Program
(CMP) guidelines:
o Legal age (18-60 yrs. Old);
o Husband and Wife (1 loan);
o No lot/housing loan; and
o Earning.
PROGRAM AVAILMENT PROCESS

I.

APPLICATION FOR OMNIBUS
COMMITMENT LINE [OCL]
a. Application for OCL backed up by a list of
households covered by census and tagging
and schedule of line availment.

II.

AVAILMENT OF THE APPROVED OCL
a. Sanggunian Ordinance stipulating the ff:

i. Authorizing

the Local Chief
Executive to assign the Internal
Revenue Allotment (IRA) or other
forms of acceptable Guaranty
[Local
Government
Unit
Guarantee Corporation (LGUGC),
Home Guarantee Corporation
(HGC)] in favor of SHFC as well
as sign, negotiate and transact with
SHFC and other LCMP partners to
fully operationalize and implement
LCMP in the locality;
ii. Specifying the amount and period
of IRA assignment and detailing
the terms and conditions of
partner-LGUs
participation/obligation in LCMP;
iii. Ratifying the MOA executed by
and between SHFC and the DILG;
and
iv. Furnishing Land Bank of the
Philippines
(LBP)/Development
Bank of the Philippines (DBP) a
copy of subject resolution and
authorizing
partner-LGU’s
execution of agreements with
LBP/DBP as stipulated in the
LCMP MOA.
b. Certification of existence of a Community
Fund by the CA;
c. Title to the property; and
d. Submission of copy of all authentic, valid
binding and enforceable loan documents
and appraisal of project site.
 
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