Isabela LGU, SHFC sign housing deal for 163 families

More than 150 families in Echague, Isabela will soon benefit from a socialized housing deal between the Social Housing Finance Corp. (SHFC) and the municipal government.

This is just the initial number of families set to have their own home under the Community Mortgage Program (CMP), SHFC’s flagship initiative that allows organized communities to borrow funds for land purchase and housing development.

Under the memorandum of understanding (MOU) signed by SHFC SVP Atty. Ronaldo Saco and Mayor Francis Faustino Dy on August 26, the agency will finance the lot acquisition, site development, and construction of housing units for 163 families from barangays San Fabian, Silauan Norte, Taggapan and Tuguegarao.

The virtual ceremony was held in the presence of SHFC North Luzon regional operation VP Jones Tomas and Vice Mayor Amador Gaffud, Jr.

This followed similar agreements between the agency and the municipalities of Jones and Cauayan City, Isabela in July.

Representing SHFC president Atty. Arnolfo Ricardo Cabling in the event, Saco said that unlike other housing programs, CMP projects are funded based on the community’s action plan. He added that SHFC’s initiatives are anchored on the spirit of bayanihan and the sense of neighborhood. “Kami po ay mananatiling kaagapay ng mga komunidad sa kabila ng pandemya,” Saco noted, emphasizing the importance of adequate housing in addressing the virus crisis.  

Mayor Dy, on the other hand, expressed his gratitude for the partnership and the opportunity given by SHFC to provide affordable and livable housing to his constituents. “Dahil dito nabigyan ng pag-asa ang aming mga kababayan na magkaroon ng sarili nilang tahanan,” he said.

SHFC has so far forged similar agreements with 95 local government units, including 20 new partners added this year. In the light of the pandemic, the agency continues with the provision of adequate housing, which has become even more crucial now given that viruses spread fast in congested informal settlements. To date, it has provided security of tenure to more than 400,000 families through about P24 billion in loan assistance under the CMP.

SHFC is the lead agency assisting underprivileged communities in securing land tenure through shelter financing and development solutions by Building Adequate, Livable, Affordable, and Inclusive (BALAI) Filipino communities. For more info, call (+632) 7750-6337 or visit