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Microfinance Approach to Housing: The Community Mortgage Program

Author

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  • Cacnio, Faith Christian Q.

Abstract

The paper provides an assessment of the Community Mortgage Program as a government-housing program for households belonging to the lowest income deciles. The assessment was carried out using the case study approach. Four CMP communities in Quezon City, Rizal and Quezon Province were selected as case study areas. The study identified three major problems facing CMP: low collection rate, NHMFC’s slow processing of papers and funding requirements. Institutional changes have been recommended in the paper to make the CMP a more efficient and effective housing program. The feasibility of linking the CMP to the formal sector (e.g. banking sector) was likewise assessed. The paper observes that the present set-up, where the government provides low-income households with loans for housing while the banks grant higher income households with housing loans, remains to be the optimal one. The household data gathered by the study was used to estimate a housing demand function for low-income households. The results obtained in the paper conform to those observed in other studies of housing demand.

Suggested Citation

  • Cacnio, Faith Christian Q., 2001. "Microfinance Approach to Housing: The Community Mortgage Program," Discussion Papers DP 2001-28, Philippine Institute for Development Studies.
  • Handle: RePEc:phd:dpaper:dp_2001-28
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    References listed on IDEAS

    as
    1. Lamberte, Mario B. & Balbosa, Joven Zamoras, 1988. "Informal Savings and Credit Institutions in the Urban Areas: The Case of Cooperative Credit Unions," Working Papers WP 1988-06, Philippine Institute for Development Studies.
    2. Lamberte, Mario B., 1988. "The Financial Markets in Low-Income Urban Communities: The Case of Sapang Palay," Working Papers WP 1988-05, Philippine Institute for Development Studies.
    3. Ballesteros, Marife M., 2001. "The Dynamics of Housing Demand in the Philippines: Income and Lifecycle Effects," Discussion Papers DP 2001-15, Philippine Institute for Development Studies.
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