SSS Housing Loan Requirements 2023 — A Guide for Member Applications

by

List of SSS Housing Loan Requirements 2023 for Application

SSS HOUSING LOAN REQUIREMENTS 2023 – You can check the list below for the documents needed in applying for the Social Security System loan offer.

The Social Security System (SSS) members have several benefits and loans that they can turn to. These are excellent preparations in times of financial needs that is why it is important to keep your account active and updated if you are an SSS member.

SSS Housing Loan Requirements 2023
Photo Credit: MagicBricks

The loans offered by the SSS covers several purposes. Aside from the SSS Salary Loan 2023, another offer of the state-run social insurance agency is the SSS Housing Loan which you can apply for to finance a house repair. It can finance major repairs in your house or make improvements.

SSS
Photo Credit: Philippine Business Directory

The SSS Housing Loan offer can fund major repairs as well as improvements including the following:

  • extension or expansion and enhancement of economic and aesthetic value of an existing housing unit
  • construction of concrete fence and steel gate
  • completion of an occupied bare house
  • installation of deep well and motor pump

The Social Security System has set an eligibility criteria in applying for the Housing Loan offer. Here are the SSS Housing Loan Requirements 2023 in terms of eligibility:

  • member must have posted at least 36 monthly contributions with 24 continuous contributions prior to the application
  • not more than 60 years old at the time of application
  • not previously granted a repair and/or improvement loan by the SSS or NHMFC
  • not been granted final SSS benefits
  • borrower and spouse is updated in the payment of their other SSS loan(s)

Aside from the eligibility criteria, there are documents that you need to comply in applying for the loan offer. Here are the SSS Housing Loan Requirements 2023:

Personal Documents of the Member-Borrower:
  • Application for Direct House Repair and/or Improvement Loan (2 copies)
  • SS ID Cards of the principal applicant and his/her spouse, if applicable
  • proof of income:
    • If employed…
      • latest Income Tax Return (original and photocopy for authentication)
      • Certification of Employment and Compensation duly signed by the employer’s SSS authorized signatory (original copy
      • payslips
    • If self-employed or a professional…
      • Income Tax Returns and Financial Statements for the last three (3) years (original and one photocopy)
    • If overseas Filipino worker (OFW)…
      • Contract of Employment and Certification of Employment and Compensation duly authenticated by the Philippine Consulate or SSS Foreign Representative
Residential Property Documents:
  • Building or Renovation Permit issued/approved by the Building Official with Locational Clearance, Electrical Permit, Sanitary/Plumbing Permit and corresponding official receipts of payments (original and one (1) photocopy
  • Certified true copy of the Original/Transfer/Condominium Certificate of Title (OCT/TCT/CCT) issued by the Registry of Deeds together with owner’s duplicate copy*
  • latest Tax Declaration of Real Property (land and building) with the Official Receipt of Realty Tax Payment (original and one (1) photocopy)
  • Lot/Location Plan prepared, signed & sealed by a licensed geodetic engineer with the following:
    • sketch of the lot with description of its boundaries
    • lengths and bearings of the tie line and sides of the lot
    • vicinity map w/ landmarks, street pattern, street names and lot distance as reckoned/based from the lot to the nearest street intersection (2 copies)
  • Consolidation-subdivision plan approved by the Land Registration Authority or Bureau of Lands/DENR-NCR (15” x 20” size; primary document) (1 copy)
  • complete set of building plan
  • specifications and Bill of Materials & Labor must be signed & sealed by a licensed civil engineer or architect with owner’s conformity
  • scope of Works showing list/itemized works to be done according to priority, prepared and signed by owner, civil engineer or architect. (original and one (1) photocopy)
  • pictures of existing collateral; the existing house and lot
    • 1st – Front and one side
    • 2nd – Rear and other side
    • 3rd – Kitchen counter
    • 4th – Toilet and Bath Pictures

Submit the SSS Housing Loan Requirements 2023 to a branch of the Social Security System nearest to you. The loan processing may take a few working days to a month. Wait for an update from the state-run social insurance institution regarding the status of your loan application.

Leave a Comment