Some condominium units can now be acquired through a Home Development Mutual Fund (HDMF) or Pag-ibig Fund loan, executives of the housing agency of the Philippines said.
Anthony Maglunsod, Pag-ibig’s assistant manager of operations for Cebu City South, said they’ve raised the loan ceiling from P3 million to P6 million.
Condo units, not previously affordable under the Pag-ibig Fund program, are now covered, he explained.
An artist’s rendition of the completed 18-storey City Loft by Fuente Triangle. (Photo from Fuente Triangle website)
“As long as the member or borrower can pay the monthly amortization, he or she could avail of a condo loan,” he pointed out.
One of the condominium developments that can be acquired through a Pag-ibig loan is the 18-storey City Loft along Gen. Maxilom Avenue, which its developer Fuente Triangle Realty Development Corp. plans to complete by end of 2013.
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Tagged 18-storey City Loft, Anthony Maglunsod, Cebu City South, condominium units, Fuente Triangle Realty Development Corp., HDMF, Home Development Mutual Fund, pag-ibig fund
Since last year, the Home Development Mutual Fund (HDMF) Visayas Group has done away with the half-day seminar for those interested in taking out a housing loan.
Victoria de la Peña, HDMF vice president for the Visayas, said prospective borrowers only need to go to their Pag-ibig branch where someone talk them through the basics as well as match their housing needs with their capability to pay.
New Pag-ibig Fund programs in 2013, according to her, will involve encouraging employer companies to provide housing for their employees. She said they can collaborate with Pag-ibig Fund, another name for HDMF, and property developers on how to go about creating a housing program for their workers.
A new business process outsourcing (BPO) tower will rise next to Ayala Center Cebu in the Cebu Business Park.
The ACC Corporate Center broke ground last January 30 at the west entry of Ayala Center Cebu. The ceremonies were led by Ayala Land, Inc. president Antonino Aquino and Cebu Holdings, Inc. president Francis Monera.
The ACC Corporate Center is expected to be completed in 2015 and has a total of 41,996 square meters gross floor area with 12 levels of office spaces and two levels of retail shops.
Grand Land started 2013 with a Kickoff Party last Jan. 12 to celebrate its momentum in achieving more than its target quota for 2012.
The event’s program, which included motivational talks, was well attended by invited real estate brokers and sellers who expressed enthusiasm over the interactive activities they took part in conducted by one of the guest speakers Padma Mangharam Siap, along with the other two guest speakers and trainers, Maria Theresa Menina and Jethro Vibar.
Grand Residences Cebu is already 36 percent sold after the great success of its Tower 1.
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