Reverse Mortgage Program

What is a Reverse Mortgage

The Reverse Mortgage Program ("MaBuHay") is a program launched by National Home Mortgage Finance Corporation (NHMFC) which aims to meet the need of senior citizens.

Reverse Mortgage is a type of program where seniors have the opportunity to borrow using the "EQUITY" of their properties. Under the REVERSE MORTGAGE PROGRAM. Seniors will be able to borrow based on the value of their property and their age. The proceed can be received according to the Seniors' preferred option and no payment is required as long as they adhere to the conditions of the program.


  • The borrower must be 60 years old and above.
  • Legitimate and registered owner of a house and lot.
  • Currently residing in the property as their primary residence.
  • You can borrow at least 60% of the Property Appraised Value (PAV).
  • COUNSELING SESSION for the borrower, spouse and children is a must.

Will soon introduce some additional features on the program to suit the needs of the women and men Senior Citizens and retirees as prescribed under existing Philippine laws and regulations.

HLRPP2 - Socialized Housing Loan Take-out of Receivables (SHelTeR)

The HLRPP 2-SHelTeR Program shall cover the purchase of housing loan receivables of Socialized Housing Projects:

  • Consisting of a house and lot or condominium unit
  • Loan value of Php 480,000 up to P750,000 or as defined by the NHMFC

Loan Amount

Maximum Loanable amount is P580,000.00 for horizontal projects and P750,000.00 for vertical condominium projects, but depending on the location of the property


The loan term is up to 30 years

Interest Rates

Annual interest rate is 4.5% fixed for the first 10 years to be repriced to 6.5% which is fixed from the 11th year up to the end of the loan term.

Fees and Charges
  • Processing Fee P2,000/account
  • Appraisal Fee P1,000/account
  • One year prepaid MRI and Fire Insurances

Reverse Mortgage Program

1. What is a Reverse Mortgage Program (RMP)? 

RMP is a financial product which specifically caters to Senior Citizens where senior citizens can convert a portion of their home equity into cash to address their needs

 2. Who are entitled to avail? 

Homeowners who are 60 years old and above. 


How may the proceeds of the loan be used by the Senior Citizens?
The senior citizens may use the proceeds for the following purposes:

  1. Senior Citizens may use the proceeds as capital for their planned business (Masaganang Buhay);
  2. Senior Citizens may use the proceeds for travel or vacations or for personal necessities (Masiglang Buhay);
  3. Senior Citizens may use the proceeds for medical expenses (Mahabang Buhay); and
  4. Senior Citizens may use the proceeds to pay off their other financial obligations (Maayudang Buhay).

What are some of the salient features of the program?
The following are the salient features of the program: 

  1. Available to Filipino Senior Citizens as defined under Republic Act 9994 otherwise known as the “Expanded Senior Citizens Act of 2010;”
  2. Registered owner of a house and lot or condominium unit;
  3. Residing in the property to be mortgaged;
  4. Maximum loanable amount is 60% of the appraised value of the property but not to exceed PhP3,000,000.00;
  5. Counselling Session for the borrower and the heirs is a must; and
  6. Borrower can use the property as residence until death, sells or moves out of the property. 

What is the purpose of Counselling Session? 

Prior to loan approval, counselling will be conducted where all the senior citizens’ spouse and heirs are gathered together to discuss about the risks and benefits of the RMP, the loan terms and conditions, grounds for termination/cancellation of the loan, the responsibilities of the applicant and NHMFC and other legal issues. 


How to avail and who may we contact about the program?
You may contact the following contact persons: 

  1. Mr. Rundstedt Jalbuna at 893-1501 local 308
  2. Mr. Efraim C. Osingat CPA, BSMA at 893-1501 local 267 



How to avail of the Program

1 Originating institution submits letter starting intent to sell their housing loan receivables to NHMFC.

2 Originating institution advise buyers that balance of their housing loan will be sold/transferred to NHMFC

3 NHMFC Conducts due diligence on:
a) The originating institution
b) Buyer (to determine existence/capacity to pay)
c) Property inspection/appraisal

4 Originating institution and borrower receives notice approval.

5 NHMFC releases take-out proceeds to the originating institution.

6 Borrower issues 25 post-dated checks to cover monthly amortization payments and one guaranty check to cover balance












  • Interest Rate: As low as 6.54% up to 10.41 depending on the term of the term of the loan and the classification of the originator.
  • Number of working days for Due Diligence on the portfolio and loan originator
  • Voucher Processing and Payment : 11 days