How much are the SSS OFW Housing Loan fees for inspection and application processing?
SSS OFW HOUSING LOAN FEES – Here is a guide on the fees in applying for this housing loan offer of the Social Security System (SSS).
Whether you are working abroad or in the Philippines, one of the best investments and the wisest purchases you can ever make is to buy a residential property. It can be a housing unit, a house and lot, a townhouse, or a vacant lot where you can build your dream home.
However, truth be told that big projects like this also need a huge amount. In fact, many overseas Filipino workers (OFWs) are in abroad for several years now but they have yet to buy a house. It is usually because a big part of their salary is sent to their families in the Philippines.
Meanwhile, for members of the Social Security System who are working abroad, you have an SSS offer that you can turn to – the SSS OFW Housing Loan.
The said loan offer of the Social Security System for its OFW members is open for several purposes. You may apply for it for any of the following:
- “construction of a new house or dwelling unit on a lot owned by the applicant free from lien/encumbrances;
- purchase of a lot and construction thereon of a new house or dwelling unit; and
- purchase of an existing residential unit which may be a house and lot, a condominium unit or a townhouse.”
Do you want to know how much you may borrow under this loan offer? Feel free to visit – SSS OFW Housing Loan: The Minimum & Maximum Loanable Amounts.
There are fees that you must be aware of before applying for the SSS OFW Housing Loan. You must prepare for the application fee and as well as the inspection fee:
- Application Fee – ½ of 1% of loan amount or P500.00 whichever is higher but not to exceed P3,000.00 to be deducted from the first loan release.
- Inspection Fee – P500.00 for both within and outside Metro Manila
You may also want to check on the requirements in applying for this loan offer. Feel free to visit – Requirements for SSS Housing Loan for OFWs – What To Prepare in Applying.