Guide on SSS Housing Loan Offer Coverage
SSS HOUSING LOAN – Here is a guide on the purposes that the Social Security System Housing Loan offer covers.
The Social Security System has several loan offers for its members. More popularly called SSS, the state-run social insurance agency offers a cash loan to its members who have posted at least 36 monthly contributions through the Salary Loan offer. The said SSS cash loan offer is a multi-purpose loan.
Aside from the said loan offer, members of the SSS who have posted a total of at least 36 monthly contributions may also be eligible to apply for the SSS Housing Loan offer.
The SSS Housing Loan offer is open for member-borrowers who…
- have active membership with the SSS
- have at least 36 total monthly contributions posted and 24 contributions made straight in the period prior to the application
- was not previously granted the same loan
- was not granted a final SSS benefit
With regards to the purposes that are part of the coverage set under the SSS Housing Loan offer, you may apply for the loan to finance any of the following purposes:
- Major repairs, particularly for dilapidated and structurally unsafe housing units;
- Improvements which shall apply to:
- 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.
Are you planning to apply for the said SSS loan offer? There are documents that you need to prepare and submit to a branch of the social insurance institution nearest to you. For reference, you may visit – SSS Housing Loan Requirements for House Repair or Improvement.
You may also visit – SSS Salary Loan Requirements: List of Documents You Must Prepare