Guide on SSS House Renovation Loan 2025 Offer for Members
SSS HOUSE RENOVATION LOAN 2025 – The Social Security System Housing Loan offer is ready to assist the home repair of qualified members.
Does your house needs some renovation? Or you want to apply the changes and improvement that you longed to see in your own space? If you are a member of the Social Security System, there is a loan offer that you may turn to — the SSS Housing Loan for Home Repair and Improvement.
With its purpose, it is safe to also call the loan offer as SSS House Renovation Loan. It is one of the loan offers of the social insurance giant aside from the many SSS benefits that members may avail. It is undeniably not as popular as the other offers of the social insurance giant but it has helped many members already.
The SSS House Renovation Loan is designed to finance major repairs, particularly for dilapidated and structurally unsafe housing units. You may apply for it to finance any of the following purposes:
- 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.
The SSS House Renovation Loan is open not only for the salaried members of the social insurance giant but as well as the self-employed ones. It is open for both locally-employed individuals and overseas Filipino workers provided that the member-borrower has posted at least thirty-six (36) months contributions and twenty-four (24) continuous contributions in the period prior to application.
Furthermore, the SSS member-borrower must not be over 60 years old at the time of the loan application. He/She must not also be a recipient of a final benefit from the social insurance giant.
Accordin to the Social Security System, it accepts “Transfer Certificate of Title/Original Certificate of Title/Condominium Certificate Title (TCT/OCT/CCT) registered under the Torrens System issued by the Registry of Deeds in the name of the principal borrower and/or his spouse free from liens and encumbrances”. The following collaterals are not accepted under the offer:
- Land type other than residential
- Less than 15 sq. meters floor area, in case of condominium
- Less than 32 sq. meters lot area
- Road right of way is less than 2.0 meters
- Free/Homestead/Misc. Sales Patent Titles
The SSS will appraise the property to be repaired or improved. With regards to the how much you may borrow under the SSS Housing Loan offer, there are considerations which you may check. You may repay the loan for up to 20 years for non-Overseas Filipino Worker (OFW) members of the social insurance giant and up to 15 years for OFW member-borrowers.
The SSS has set unique sets of loan application requirements for locally-employed, self-employed, and OFW members. Here’s a guide: