Guide on the SSS Housing Loan 2023 Application Process
SSS HOUSING LOAN 2023 – You can check the steps below on how to apply for the offer of the Social Security System 2023 and the requirements.
The members of the Social Security System has several loan offers that they may turn to in times of financial needs for various purposes. If you are one of the members with an updated account, you may qualify to the SSS Housing Loan offer of the state-run social insurance agency.
Apart from the SSS Salary Loan 2023, the Social Security System also offers a Housing Loan. Its difference from other housing loans is that it serves the purposes of financing a major house repair or minor home improvements.
With regards to the loanable amount under the SSS Housing Loan 2023 offer per member, it depends on the assessment of the state-run social insurance agency. Meanwhile, the SSS has generously posted details about the maximum amount that a member may borrow.
The loan can be repaid for at least 5 years up to 20 years. The SSS Housing Loan interest rate will be implemented until the loan is fully-paid by the member. Here are the steps on how to apply for the loan offer:
Step 1 — Check the qualifications for the SSS Housing Loan offer. The Social Security System has set a list of the eligibility criteria for qualification to the loan offer. The member-borrower must meet the following eligibility requirements:
- 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)
Step 2 — Gather the documents. There are specific documents, mostly pertaining to the property, that you must prepare and submit for application to the loan offer of the Social Security System. Prepare the requirements for SSS Housing Loan 2023 application.
Step 3 — Submit your requirements. Go to a branch of the Social Security System and submit your documents for application Wait for an update from the state-run social insurance agency regarding the status of your loan application.