SSS OFW Housing Loan: The Minimum & Maximum Loanable Amounts

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SSS OFW Housing Loan: How Much You Can Borrow Under It

SSS OFW HOUSING LOAN – Here are the minimum and the maximum loanable amounts under the SSS Housing Loan offer for the overseas Filipino workers (OFWs).

A lot of Filipinos went abroad in the hope to be able to give their families comfortable lives. However, even for overseas Filipino workers (OFWs), getting a residential property may take some time.

While they earn bigger than what they can earn in the Philippines, there are many OFWs whose salary is just enough so the family can eat delicious foods at least three times a day, the kids can go to prestigious schools, and the utility bills will be met monthly.

This is the reason why saving for a house and lot may take years for many Filipino workers abroad. Meanwhile, if you are an OFW and you are a member of the Social Security System (SSS), you have an option – the SSS OFW Housing Loan.

SSS OFW Housing Loan

The Social Security System offers a housing loan for its Filipino members who are working abroad. The offer is open to fund a variety of purposes:

  • the construction of a new house
  • the acquisition of a vacant lot and the construction of a residential property thereon
  • the purchase of a residential unit

With regards to how much you may borrow under the SSS OFW Housing Loan, the minimum and the maximum loanable amounts will depend on the type of property you want to acquire.

Socialized Housing Loan

  • Maximum Loanable Amount: Php 450,000.00

Low-Cost Housing Loan

  • Over P450,000.00 up to P1,000,000.00
  • Over P1,000,000.00 up to 1,500,000.00
  • Over P1,500,000.00 up to P2,000,000.00

The SSS has set qualifications or eligibility requirements in applying for this loan offer. To check if you are qualified, you may visit – SSS Housing Loan for OFWs – Guide on Qualifications in Applying For It.

Thank you for visiting Moneysense.ph and allowing us to help you with your concerns. We hope that we got your queries answered. You may check on other articles on our website.

READ ALSO: SSS Sickness Benefit 2021: Guide on Who May Avail It & the Requirements

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