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Revised Omnibus Guidelines Implementing The Pag-Ibig Takeout Mechanism Under The Developers’ Cts/Rem Scheme(Pag-IBIG Fund Circular No. 237)

Pag-IBIG TAKEOUT MECHANISM UNDER THE DEVELOPERS' CTS/REM SCHEME (Cir. 212)

DEVELOPMENTAL LOAN PROGRAM

Create additional housing inventories through the provision of developmental financing at easier terms and lower rates to developers/ proponents of housing projects.

MODIFIED GUIDELINES OF THE PAG-IBIG PROGRAM FOR THE DEVELOPMENT OF MEDIUM/HIGH-RISE CONDOMINIUM BUILDING (MHRB) PROJECTS IN METRO MANILA AND HIGHLY URBANIZED CITIES

These guidelines shall cover Medium/High-Rise Condominium Building (MHRB) Projects located in Metro Manila and Highly Urbanized Cities.

Pag-IBIG CITY PROGRAM

Provides a ready inventory of completed housing units in a project to be known as a Pag-IBIG City, which shall be available for sale at more affordable prices to Pag-IBIG members, who shall likewise be assured that the project meets the standards of the HDMF as to land development and house construction.

CREDIT FACILITY FOR PRIVATE DEVELOPERS

Provides a liquidity mechanism for private developers to enable them to continue developing housing projects pending the take-out of delivered and complete housing loan applications.

GLAD PROGRAM

Provides financial assistance to organized groups of formally employed Fund members for the acquisition and development of rawland or partially developed land, which shall serve as the site of their housing units.

FCL COVERED BY DOMESTIC LETTER OF CREDIT

Provides assurance to the developer of the availability of funds to cover deliveries of completed condominium units/house and lot packages in accordance with a delivery schedule.

Pag-IBIG HOMES DIRECT FINANCING PROGRAM

Covers the development and construction of low cost housing units in Metro Manila and highly urbanized cities, and socialized housing units in the provinces by Pag-IBIG Fund.