Guide on the SSS Housing Loan Coverage & the Loan Details
SSS HOUSING LOAN COVERAGE – You can check the list below for a guide on the purposes covered in applying for the loan offer of the Social Security System.
Members of the Social Security System, more commonly known as SSS, may turn to the government agency for a Housing Loan. It is open for member-borrowers who:
- have active membership with the SSS
- have at least 36 total monthly contributions posted and 24 contributions made straight in the period prior to the application
- was not previously granted the same loan
- was not granted a final SSS benefit
SSS Housing Loan Coverage:
- Major repairs, particularly for dilapidated and structurally unsafe housing units;
- Improvements which shall apply to:
- Extension or expansion and enhancement of economic and aesthetic value of an existing housing unit. Said improvements shall be permanently attached to the house.
- Completion of an occupied bare house.
- Construction of concrete fence and steel gate.
- Installation of deep well and motor pump.
Do you want to check on the loanable amounts under the loan offer? Kindly visit – SSS Housing Loan Loanable Amounts – Here’s How Much You May Borrow for House Repair / Improvements.
To apply for the loan offer, there are specific documents that the SSS requires for submission. These documents will be utilized for evaluation or assessment of the loan application. Feel free to visit – Requirements for SSS Housing Loan for House Repair / Improvement (LIST).
You might also like to check on the interest rate implemented under the offer. Feel free to visit – SSS Housing Loan Interest Rate – Here’s the Interest Rate per annum….
Prior to applying for the loan, you can check your possible loanable amount or monthly due through the online calculator made available by the state-run social insurance institution. You may visit – SSS Housing Loan Calculator – How Much You May Borrow for Repairs/Improvements.
