Lists of Pag-IBIG Fund Housing Loan & SSS Housing Loan Features & Requirements for Application
PAG-IBIG FUND HOUSING LOAN vs. SSS HOUSING LOAN – You can check here a comparison of these two (2) loan offers of the state entities.
Nowadays, there are several state-run entities in the Philippines that provide different kinds of loans. Thus, there is a huge advantage in trying to maintain an updated membership with the Pag-IBIG Fund, the Social Security System (SSS), and the Government Service Insurance System (GSIS).
With regards to the housing loan, both the Pag-IBIG Fund and the Social Security System have housing loans. The Pag-IBIG Housing Loan is one of the many loans that Pag-IBIG Fund members with qualified accounts may apply for.
The Social Security System, more popularly called SSS, also has its own set of loan offers and one of the loans is the SSS Housing Loan. This loan offer comes with a unique set of purposes coverage and you may check on it below.
Both the Pag-IBIG Fund and the Social Security System or SSS are operating in the Philippines for several decades now. Many people have acquired their own residential property or achieved a home repair or improvement through the loan offers of these state entities.
To choose which housing loan offer suits your needs best, it would be so much better to check on the features of each housing loan offer first. You can check on these features of the Pag-IBIG Fund Housing Loan and SSS Housing Loan below:
Purpose of Loan Application
| Pag-IBIG Fund Housing Loan | SSS Housing Loan |
| Purchase (plus cost of transfer) of residential lot or adjoining residential lots of up to a maximum of 1,000 sq.m. | the repair of dilapidated and structurally unsafe housing units |
| Purchase (plus cost of transfer) of residential house & lot, townhouse or condominium unit | installation of deep well and motor pump |
| House Construction | extension or expansion and enhancement of economic and aesthetic value of an existing housing unit |
| Home Renovation | construction of concrete fence and steel gate |
| Refinancing of an existing housing loan | completion of an occupied bare house |
| Combined Loan Purposes |
Eligibility Criteria
| Pag-IBIG Fund Housing Loan | SSS Housing Loan |
| not more than sixty-five (65) years at the date of application and not more than seventy (70) years at maturity of the loan | with a minimum of 36 monthly contributions posted with 24 continuous contributions before the loan application |
| at least twenty-four (24) monthly membership savings | not older than 60 at the time of application |
| possess legal capacity to encumber real property | does not have existing SSS housing loan |
| not a recipient of final SSS benefits | |
| no SSS or NHMFC repair and/or improvement loan | |
| with an ability to pass satisfactory background / credit and employment / business checks of Pag-IBIG Fund | |
| has no outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of the loan application | |
| has no Pag-IBIG Housing Loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago |
Loanable Amounts
| Pag-IBIG Fund Housing Loan | SSS Housing Loan |
| Case-to-case basis up to P6 million | from 70% of the appraised value of the collateral up to 90% of the appraised value or P1 million |
Interest Rate
| Pag-IBIG Fund Housing Loan | SSS Housing Loan |
| 1-Year Fixing — 5.750% | 9% per annum |
| 3-Year Fixing — 6.250% | |
| 5-Year Fixing — 6.500% | |
| 10-Year Fixing — 7.125% | |
| 15-Year Fixing — 7.750% | |
| 20-Year Fixing — 8.500% | |
| 25-Year Fixing — 9.125% | |
| 30-Year Fixing — 9.750% |
Loan Term
| Pag-IBIG Fund Housing Loan | SSS Housing Loan | |
| Minimum Loan Term: | 1 year | 5 years |
| Maximum Loan Term: | 30 years | 20 years |
Requirements for Application
| Pag-IBIG Fund Housing Loan | SSS Housing Loan |
| The Fund has crafted a list of the requirements for Pag-IBIG Housing Loan application process. | To apply for the loan offer, there is a specific list of SSS Housing Loan requirements you must prepare and submit to the state-run social insurance entity, |