BACOLOD CITY - In an effort to address housing needs, the Bacolod City government has extended its Pambansang Pabahay Para sa Pilipino Housing (4PH) Program to overseas Filipino workers (OFWs) and individuals who work in the city but do not have registered residency.
According to Philippines News Agency, chairman of the City Council's committee on urban poor, housing, and resettlement, the initiative, in partnership with the Department of Human Settlements and Urban Development (DHSUD), traditionally aimed at aiding Bacolodnons, but now it will also cater to residents from other localities employed within Bacolod. "This is a national housing program, not limited to residents of Bacolod. Those from other cities and municipalities working here, and are renting places, can also qualify," Gonzalez stated on Monday.
While the program will still predominantly benefit Bacolod residents, Gonzalez mentioned that approximately 10 to 20 percent of the housing units would be allocated to non-resident workers and OFWs. OFWs interested in the program have the option to authorize a family member to process their application through a special power of attorney.
The 4PH Program, designed primarily for informal settler families, has commenced with the Yuhum Residences-Vista Alegre project, which includes 296 condominium-type units across four buildings. The subsequent project, Yuhum Residences-Banago, aims to develop 3,627 housing units.
Gonzalez highlighted the financial advantages of the program, noting that due to subsidies from the national government, homeowners would benefit from a reduced interest rate of only 1 percent per annum, compared to the standard 6.25 percent. Monthly amortizations for beneficiaries are expected to range from PHP2,300 to PHP2,800, not exceeding PHP3,000.
Eligibility for the housing scheme requires membership in the Home Development Mutual Fund (HDMF), also known as the Pag-IBIG Fund. The city government has pledged to assist non-member applicants in securing membership to qualify for the program.