THE Bangsamoro Autonomous Region in Muslim Mindanao (Barmm) is launching a housing loan program in the fourth quarter of 2023 aiming to offer affordable housing units for Barmm employees.
A total of 100 housing units constructed in Semba village, Datu Odin Sinsuat, Maguindanao del Norte are ready for occupancy as part of the housing loan program of Barmm’s Ministry of Human Settlements and Development (MHSD).
MHSD Director-General Esmael Ebrahim said in a statement Thursday, October 12, that the program aims to offer housing opportunities to Barmm employees with modest incomes who are unable to establish their own homes.
“Compared to renting a house in Cotabato City for P10,000 a month, it's better to own a house that you pay for every month, and at the end of the day, it's yours,” Ebrahim said.
Ebrahim said the monthly amortization is expected to be no more than P4,000 for a 15-year period based on the previous coordination meeting between MHSD, Office of the Chief Minister, Ministry of Finance, Budget and Management (MFBM), and Bangsamoro Planning and Development Authority (BPDA).
Ebrahim also shared the draft guidelines, outlining the qualifications for potential beneficiaries of the housing loan program.
The beneficiaries must be Filipino citizens under 55 years of age, permanent government employees, active members of the Pag-IBIG Fund with a gross monthly income not exceeding P27,000, and must not own any real estate in urban or rural areas.
Ebrahim added that discussions have been underway whether the program will be made available to all employees of other Barmm Ministries, Offices, and Agencies, emphasizing that the program will be on a first-come, first-served basis.
He said the initiative to invest in strategic infrastructure for economic growth aligns with the enhanced 12-point priority agenda of Barmm Chief Minister Ahod Ebrahim. <b>(SunStar Zamboanga)</b>