PAMPANGA is setting the pace for countryside housing development as shown by the brisk sales of houses despite the challenges brought about by the pandemic.
This was disclosed by housing Czar and Department of Human Settlements and Urban Development Secretary Eduardo del Rosario during his site visit and inspection of the Xevera Mabalacat Township project.
Meanwhile, the self-employed and the voluntary members of the Home Mutual Development Fund or Pag-ibig Fund may apply for their housing loans provided they show proof of income.
This developed as Pagibig Fund’s top officials said the fund is servicing housing loan application of members who are formally employed. A certificate of employment is one of the key requirements set by the agency to ensure the borrowing capacity of the loan applicant.
“Proof of income will be our basis in computing a borrower’s monthly amortization. From there we can determine their capacity to pay,” said Pagibig President and CEO Acmad Rizaldy Moti during a press conference held at Xevera Mabalacat.
Pag-Ibig Fund’s formula particularly for Xevera projects has turned out to be a success despite the pandemic that has affected the housing and construction sector for the past 12 months.
The head of the newly created Department of Housing cited Xevera Mabalacat township in defending his pronouncement about Pampanga province’s pace-setting mode in housing and development projects.
“The availability of local jobs particularly in the economic zone, the huge number of OFW’s based in Pampanga and its proximity to Metro Manila has boosted the province’s resiliency and opened a host of opportunities for a sustained mass housing programs in the province,” Del Rosario said.
“Against that backdrop, this particular township’s key features such as affordability, complete amenities, access and availability of housing units has driven homebuyers and borrowers to pursue with their dream of finally owning a house,” Del Rosario said. Jess Malabanan
During his visit, Del Rosario affirmed his agency’s commitment to Westchester Realty and to its qualified home buyers and borrowers in aiding the quick processing of housing loans.
“A long time ago, this township development project somewhat set the pace in the development of affordable housing with complete amenities,” he said.
“The new leadership acknowledges this—that’s why we decided to pursue the rebuilding of an otherwise model housing community.”
Westchester Realty has targeted the end of this year to deliver the 4,000 housing units to achieve one hundred percent completion of the project, way ahead of its agreed timeline with the Pag-Ibig Fund.