DHSUD mulls 1% interest rate for 'Pambansang Pabahay' loan

The Department of Human Settlement and Urban Development (DHSUD) aims to bring down to as low as one percent the interest rate of the government's housing program.

According to Raffy Tima’s “24 Oras” report on Wednesday, the local and national government can help fund the payment of the interest rate for the program dubbed Pambansang Pabahay Para sa Pilipino.

“Instead of P7,000, magiging P3,000 na lang po. (Kaya na yun) in city,” DHSUD Secretary Jose Acuzar said.

Renalyn Odod has been living in a small house together with her children and grandchildren in an informal settlement along NIA Road in Quezon City for 20 years.

“Pangarap ko po magkaroon ng ano yung mga apo ko, bahay at saka makapag aral ng mabuti. Mamatay man po, mawala man sa mundo po, at least alam ko alam ko mga apo ko nasa mabuting kinabukasan na po sila,” Odod said.

She said their house was burned twice, adding they also a fear that it can be demolished when the owner takes over the land.

She said she cannot get their own house because she cannot afford to pay the interest rate.

“Mahalaga po yun sir kasi ni hindi ka na mamomroblema kung paaalisin ka pa e, o ide-demolish, ganyan. At least nasa maganda kang tirahan,” Odod said.

The DHSUD said it is aware that the 6% interest on housing loans hinders informal settlers from getting their own house.

“Ang 6% po lumalabas po mga P7,000 to P8,000 monthly. So hindi po kakayanin po ng mga ISF yan at lalo na yung mga manggagawa na sumusuweldo ng minimun wage,” Acuzar said.

Meanwhile, the DHSUD earlier said that a total of 18 local government units so far have signed a memorandum of understanding (MOU) for the implementation of the national housing program.—Richa Noriega/LDF, GMA News