The National Housing Authority (NHA) issued the guidelines for the disposition of house and lot packages under the Tahanan ng Bagong Bayani (TBB) or Memorandum Circular (MC) No. 2022-017 on February 14, 2022.
These guidelines are pursuant to NHA Board Resolution No. 6890 dated August 24, 2021 approving the re-allocation of remaining housing units under the Government Employees Housing Program (GEHP) to qualified Overseas Filipino Workers (OFWs).
OFWs of legal age but not more than 65 years old at the date of application and not more than 70 years old at the time of the maturity of the housing loan can apply for the TBB. Former OFWs and their dependents can also apply provided they must be gainfully employed or with sufficient income.
On June 7, 2021, A Memorandum of Understanding (MOU) was signed between the NHA and the Department of Labor and Employment where both agencies agreed to develop socialized and low-cost housing projects for OFWs in accordance with the existing programs of the Authority.
The housing units under the TBB like the GEHP shall also be disposed through outright cash sale, staggered cash in-house payment, or installment terms under the in-house financial and end-buyers financing through Home Development Mutual Fund (Pag-IBIG Fund) or other government financing institutions (GFIs).
In case of cash sale, the purchase of the lot and housing unit shall initially be made through individual loan agreement (ILA) by and between the awardee and NHA, as represented by the District Manager.
With the staggered cash in-house payment option, housing awardees can pay 12 equal monthly payments at 0% interest. They shall commence upon the execution of the Sales Contract within 30 days from receipt of the NHA Notice of Allocation. If there’s a delay in the monthly payment, a 0.50% delinquency charge shall be collected.
Interested applicants may pass their requirements checklist which are made available online to the district/regional office having territorial jurisdiction over the chosen housing project. The receiving office shall ensure the completeness and accuracy of the documents submitted by the applicants and undertake proper evaluation.