CMP OVERVIEW AND OBJECTIVES
CMP is a people-led housing finance and community development program implemented by the Social Housing Finance Corporation (SHFC) which assists legally
organized associations of low-income groups to acquire and develop a tract of land under the concept of community ownership.
The primary objective of the program is to assist residents of blighted or depressed areas to own the lots they occupy, or where they choose to relocate to, and
eventually create sustainable and resilient communities in coordination with the local government units. CMP shall be implemented in various Flexible, Affordable,
Innovative, and Responsive (FAIR) shetter solutions.
Below is a schedule of how much a prospective member-beneficiary can borrow from CMP:
· For onsite P400,000.00
· For horizontal housing P480,000.00 up to P580,000.00
· For vertical housing P600,000.00 up to P750,000.00
· For farmlot P350,000 + P50,000 Farmer Support Assistance
The loan may be used for land acquisition (Phase 1), site development (Phase 2), and house construction or home improvement (Phase 3).
The determination of final loan amount shall be subject to existing CMP guidelines. The CMP loan will bear 6% interest per year based on the outstanding balance and
will be payable over a maximum period of 25 years in equal monthly amortizations.
The processing of CMP loan applications will essentially involve due diligence verification by SHFC on the CMP loan application and the collateral. Upon acceptance of
complete documentary requirements, SHFC shall strive to devote no more than one hundred twenty (120) working days to complete the due diligence process from
CMP loan application to loan release.
CMP RESETTLEMENT MODALITIES