Guide on SSS Housing Loan Offer Loanable Amounts
SSS HOUSING LOAN – You can check the guide below about this loan including the loanable amounts under the offer.
In the Philippines, countless Filipinos are members of the Social Security System which is a state-run social insurance institution. It is intended mainly for Filipinos who are not part of the government workforce or are not working in the government or public sector.
The population of SSS members are composed of individuals who are employed, self-employed, and overseas Filipino workers (OFWs). There are also voluntary members of the SSS who are continuously posting monthly contributions.
SSS members may be entitled for the benefits and loans offered by the state-run social insurance agency. One of these offers is the SSS Housing Loan offer.
The Housing Loan offer of the Social Security System intends to help members in the renovation or improvement of their residential properties. To be eligible to apply for the loan offer, the borrower must have posted at least 36 monthly contributions.
With regards to the loanable amounts under the SSS Housing Loan offer for qualified members, the institution may lend the borrower at least 70% of the collateral property’s appraised value with a maximum loanable amount of P1 million.
There are documents that you need to submit in applying for this loan offer of the Social Security System. To check on the loanable amounts, feel free to visit – Requirements for SSS Housing Loan for House Repair / Improvement – Here’s What You Must Submit.
Do you want a guide in applying for the loan offer? For a step-by-step application process, kindly visit – Apply for SSS Housing Loan: Here’s Guide on the Application.
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