List of SSS Housing Loan for House Repair / Improvement Application Qualifications
SSS HOUSING LOAN FOR HOUSE REPAIR / IMPROVEMENT – Here is a guide on who is qualified to apply for this Social Security System loan offer.
When it comes to purposes concerning your residential property, one of those entities that you can turn to is the Social Security System. More commonly called “SSS“, it has several loan offers that serve different purposes.
You may apply for a loan to acquire a house and lot, to have your house renovated, or to make some home improvements come true. Truth be told that a residential property needs some repairs from time to time. Certain areas like the roof may be damaged as time pass.
Also, there might be instances when you want to make some improvements. How about widening the living area? Changing the windows into sliding ones? Putting in new tiles?
If you are an active SSS member, why not make use of your privileges by applying for an SSS Housing Loan for house repair or improvement?
The SSS Housing Loan for house repair or improvement is open to finance any of the following purposes:
- major repairs
- “Extension or expansion and enhancement of economic and aesthetic value of an existing housing unit attached to the main house;
- completion of an occupied bare house;
- construction of concrete fence and steel gate; and/or
- installation of deep well and motor pump.”
Who are qualified to apply for the SSS Housing Loan for House Repair and/or Improvement? To be qualified to apply for it, the member applicant must be:
- having at least 36 monthly contributions and 24 continuous contributions in the period prior to application
- not above 60 years old at the time of the application
- having no previous SSS house repair and/or improvement loan or by the NHMFC
- not a recipient of an SSS final benefit
- having active accounts with regards to his or her other SSS loans and as well as the spouse’s
For the documents you’ll need in applying, you may visit – Requirements for SSS Housing Loan for Repairs and/or Improvements.