Vice President Jejomar C. Binay said the National Home Mortgage Finance Corporation (NHMFC) Board of Directors recently approved a new incentive program to encourage early payments from its housing loan borrowers.
According to Binay, the program dubbed as “Bahay Ko, Pananagutan Ko,” is aimed to benefit NHMFC borrowers who have no missed payments.
“This is aimed to encourage borrowers to pay early and maintain their housing loans in current status without restructuring their loan obligations,” Binay added.
The Vice President said the program is open to all current housing loan borrowers. It offers a raffle coupon which will give qualified housing loan borrowers a chance to win cash prizes ranging from P50,000 to P350,000.
To qualify for the raffle, the borrower should have at least six (6) consecutive monthly payments or with zero arrears for each month of the year to earn a raffle coupon. This means a borrower can earn a maximum of two (2) raffle coupons per year.
Aside from the raffle coupon, an early payment discount program will also be enjoyed by the updated borrower. The discount amount shall be automatically applied to his loan every time he pays his monthly amortization at least five days before his monthly due date.