The Socialized Loan Take-Out of Receivables (SHeLTeR) Program, also known as HLRPP-2, is an initiative of the National Home Mortgage Finance Corporation (NHMFC), a government-owned and controlled corporation (GOCC) in the Philippines. It serves as a liquidity facility designed to support housing loan originators—such as developers, cooperatives, banks, and other institutions—by purchasing their socialized housing loan receivables. This helps strengthen the housing finance market while also expanding access to affordable home financing options for low-income Filipinos.
The SHeLTeR Program was created in response to the country’s growing demand for affordable housing, especially among the underprivileged sectors. By providing long-term financing support to originators, NHMFC aims to encourage the continued development of socialized housing projects and help address the national housing backlog. Understanding this program is valuable for both housing developers and ordinary citizens, as it contributes to building more inclusive housing opportunities and improving living conditions for many Filipino families. If you are a borrower looking for affordable housing or a housing loan originator looking for financial assistance, this detailed guide will walk you through the basic steps to apply for the SHeLTeR Program, its benefits, requirements, application steps, and fees to make the application process easier for you.
Program Overview
The NHMFC SHeLTeR Program is aimed at acquiring housing loan receivables from accredited originators such as developers, banks, and cooperatives. This program provides a liquidity facility that makes socialized home financing more accessible to the low-income sector. It falls under the High-Level Receivables Purchase Program (HLRPP-2) umbrella.
Main objectives of the SheLTeR Program:
- Promote the development of socialized housing projects
- Improve access to long-term, affordable home financing for low-income families
- Offer liquidity to loan originators and support their housing initiatives
Benefits
Here are some of the key benefits of the program for borrowers and developers:
- Loan-to-Value Ratio: Up to 100% of the appraised property value may be purchased
- Repayment Term: Up to 30 years
- Interest Rate: Starts at 3% for the first 5 years and 5.5% for the remaining years
- Approval Time: As fast as 11 working days upon submission of complete documents
- Maximum Age Limit for Borrowers: 70 years old
This makes the SHeLTeR Program one of the most accessible options for home financing and property purchases in the Philippines.
Who Can Avail of the SheLTeR Program?
The program is designed to benefit the following groups:
- Qualified Loan Originators:
- NHMFC-accredited housing developers
- Rural and thrift banks
- Microfinance institutions
- Cooperatives
- Government agencies and LGUs
- NGOs and private organizations involved in socialized housing projects
- Eligible Borrowers:
- Borrowers must have existing housing loans with qualified originators and must meet the documentation and capacity-to-pay requirements as outlined below.
Qualifications
To qualify for the program, applicants must meet the following eligibility criteria:
- Must be a housing loan originator such as a developer, bank, cooperative, micro-finance institution, government agency, local government unit (LGU), or a non-government/civic organization.
- The housing loan originator must be duly accredited by the NHMFC.
- The loan receivables submitted for purchase must be from socialized housing projects.
- Borrowers under the receivables must be low-income individuals with the capacity to pay, as evidenced by valid income documents.
- The borrower must not exceed the maximum age of 70 years at the end of the loan term.
- Borrowers and properties must meet the NHMFC’s documentary and appraisal requirements.
- Housing units must be part of an approved and licensed socialized housing project with complete legal and technical documentation.
Required Documents
Depending on whether you are an originator or a borrower, different sets of documents are required. To apply, you will need to submit the following:
For Housing Loan Originators (Developers/Banks/Institutions)
- Panoramic or wide-view photos of the project site and house-and-lot units
- Front photo showing house/block numbers and visible landmarks
- Notarized Affidavit on Due Execution of Documentation
For Borrowers
- Accomplished NHMFC Housing Loan Application Form with ID pictures
- Health insurance documents covering MRI, Fire & Lightning (if applicable)
- Certified true copies of two valid IDs
- Borrower’s ledgers and official receipts
- Proof of income:
- If employed:
- Latest ITR
- Certificate of Employment and Compensation
- Recent payslips (last 2 within 6 months)
- Passbook or other documents showing other income (if applicable)
- If self-employed or with a business:
- Latest ITR
- Mayor’s or Barangay Permit, DTI/Business Permit
- 12-month bank statements or passbook
- If OFW:
- Valid employment contract (in English)
- Bank statement or passbook (12 months)
- If other income sources:
- Lease contracts, stock certificates, or OR/CR of owned vehicles
- Lease contracts, stock certificates, or OR/CR of owned vehicles
- If employed:
Legal Documents from Originators
- Notarized Loan and Mortgage Agreement (5 original copies)
- Notarized Promissory Note (2 original copies)
- Notarized Affidavit/Certification of Warranties
- Letter of Guaranty (if mortgaged with another institution)
- Purchase of Loan Agreement (6 originals, not notarized)
- Pre-signed Deed of Absolute Sale
- Tax declarations and receipts
- TCT/CCT owner’s duplicate copy and LRA copy
- Deed of Undertaking (if needed)
- Certificate of House and Lot Acceptance
Note: Additional documents such as the Marriage Contract, Entry of Judgment for Annulment, or Special Power of Attorney may be required if applicable.
Technical Documents for Inspection and Appraisal
- Letter request for appraisal
- Individual TCT/CCT photocopy
- Vicinity map or location map
- Approved subdivision plan or site development plan
- Building plans and housing unit specifications
- Bill of materials/quantities
- License to Sell (certified copy)
- Certificate of Occupancy (certified copy)
Step-by-Step Guide to Application
To apply, these are the steps that you will need to follow:
Step 1: Prepare and submit the required application documents listed above. Make sure to keep duplicate copies for reference and in case you will need to resubmit.
Step 2: Email the Documents
Send all required borrower, originator, and technical documents to: ard.mpd@nhmfc.gov.ph
Step 3: Processing and Review
The NHMFC’s Mortgage Acquisition Department (MAD) will conduct the following:
- Validation of documents
- Due diligence process
- Preparation of CreCom materials
- CreCom approval (meeting/referendum)
- Budget Utilization Request processing
- Letter for deferred/disapproved accounts
Step 4: Submit Official Receipt (OR)
Once approved, the originator must submit the Official Receipt. The Cash Division will validate it within 10 minutes.
Where to Get the Application Forms
For the application forms for the SHeLTeR Program, you can download them from the NHMFC’s official website. Visit the Downloadable Forms section (https://nhmfc.gov.ph/downloadable-forms/) to access the necessary documents, including the Application Letter (Letter of Intent) and the Checklist of Requirements, among others.
Fees and Processing Time
For your reference, here’s a summary of the fees you can expect to pay when applying for this program:
- Preliminary appraisal fee (per project): ₱3,000
- Final appraisal fee (per account): ₱1,000
- Processing fee (per account): ₱2,000
- Total Cost:
- ₱6,000 per account for new originators/projects
- ₱3,000 per account for existing originators/projects
As for the processing time for this program application, it takes at least 19 working days and 55 minutes for the process to complete following the submission of complete requirements.
Video: Socialized Loan Take-Out of Receivables (SHeLTeR) Program AVP
The Socialized Loan Take-Out of Receivables (SHeLTeR) Program under NHMFC’s HLRPP-2 is an excellent option for developers and borrowers looking to participate in socialized housing projects across the Philippines. It offers flexible payment terms, low interest rates, and a streamlined application process, making it one of the more accessible housing financial assistance programs managed by a government-owned and controlled corporation (GOCC). Whether you’re a housing developer or an individual borrower, now is a good time to explore this program and take steps toward owning or developing affordable housing in the country. Check this video to learn more.
Contact Information
For inquiries or appointments regarding the NHMFC SHeLTeR Program (HLRPP-2), you may get in touch with NHMFC via the following:
- marketing@nhmfc.gov.ph
- 0918-910-8263 / 0917-824-9374