Guide on SSS House Repair Loan 2025 Offer for Members
SSS HOUSE REPAIR LOAN 2025 – The Social Security System is ready to finance the repair of the houses of qualified members.
In the Philippines, many Filipinos have their premiums to the Social Security System as part of the monthly budget. An SSS membership is not only open for the employees in the private sector but as well as self-employed individuals, overseas Filipino workers, household helpers, and even individuals who want to make a voluntary membership to the state-insurer.
An SSS membership can be an excellent preparation not only for the future but as well as against unwanted but inevitable circumstances like unemployment, disability, and calamities. Aside from the many SSS benefits that members may apply for, the social insurance giant also has several loan offers.
One of the loan offers of the social insurance giant is the SSS House Repair/Improvement Loan or also called as the SSS House Repair Loan. It is ready to finance even major repairs like fixing dilapidated and structurally unsafe housing units. It is also ready 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 Repair Loan is open for both employed and self-employed members of the social insurance giant as well as overseas Filipino workers who are members of the state entity. To be eligible to apply for the loan offer, the member-borrower must have posted at least thirty-six (36) months contributions and twenty-four (24) continuous contributions in the period prior to application.
The state-run social insurance giant also requires that the SSS member-borrower should not be over 60 years old at the time of applying for loan. Furthermore, he/she should also not be a recipient of a final benefit like an SSS Retirement Benefit.
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”. It is important to note that the following collaterals are not accepted under this SSS loan 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 appraisal of the property to be repaired or improved is under the Social Security System’s process. Do you want to know how much you may borrow under this SSS Home Loan offer?