Guide on SSS Housing Loan Requirements 2024 for Application
SSS HOUSING LOAN REQUIREMENTS 2024 – Here are the documents needed in applying for the Social Security System loan offer.
In the Philippines, there are several entities that offer housing loans. There are these exclusive offers that bear excellent features such as the Housing Loan offer of the Social Security System, more popularly called SSS.
The SSS is one of the giants in terms of social insurance institutions in the country. It has millions of members across the nation mostly local employees in the private sector. The self-employed individuals also take a huge chunk of the member populace of the state-run social insurance institution.
Members of the Social Security System must post regularly SSS contribution to keep their accounts updated. An updated account may qualify an SSS member to the loans and benefits offered by the state-run social insurance agency.
One of the loans offered by the Social Security System is the Housing Loan which was designed to finance both minor and major house repairs and home improvements. It is open for members who have posted at least 36 months contributions with 24 continuous contributions in the period prior to application posted.
The member-borrower must be at least 60 years old at the time of application and has not received a repair and/or improvement loan by the SSS or NHMFC and any final SSS benefits.
There are documentary SSS Housing Loan requirements for application. Except for condominiums, here are the documents you must submit to the state-run social insurance agency for application:
- duly-accomplished SSS Housing Loan Application Form for House Repair and/or Improvement (2 copies)
- SS ID Cards of the principal applicant and his/her spouse, if applicable
- proof of income:
- For locally-employed SSS members:
- latest Income Tax Return (original and photocopy for authentication)
- Certification of Employment and Compensation duly signed by the employer’s SSS authorized signatory
- payslips
- For self-employed SSS members:
- Income Tax Returns and Financial Statements for the last three (3) years (original and one photocopy)
- For professionals:
- Income Tax Returns and Financial Statements for the last three (3) years (original and one photocopy)
- For overseas Filipino workers (OFWs):
- Contract of Employment and Certification of Employment and Compensation duly authenticated by the Philippine Consulate or SSS Foreign Representative
- For locally-employed SSS members:
- Certified true copy of the Original/Transfer/Condominium Certificate of Title (OCT/TCT/CCT) issued by the Registry of Deeds together with owner’s duplicate copy
- latest Tax Declaration of Real Property (land and building) with the Official Receipt of Realty Tax Payment (original and one (1) photocopy)
- Lot/Location Plan
- prepared, signed & sealed by a licensed geodetic engineer
- prepared in a standard Bureau of Lands form (blueprint or whiteprint copy in 15” x 20” size)
- with Sketch of the lot with description of its boundaries
- with Lengths and bearings of the tie line and sides of the lot
- with sicinity map w/ landmarks, street pattern, street names and lot distance as reckoned/based from the lot to the nearest street intersection (2 copies)
- Consolidation-subdivision plan approved by the Land Registration Authority or Bureau of Lands/DENR-NCR (15” x 20” size; primary document) (1 copy)
- complete set of building plan
- Specifications and Bill of Materials & Labor must be signed & sealed by a licensed civil engineer or architect with owner’s conformity, for loans over P100,000
- Scope of Works showing list/itemized works to be done according to priority, prepared and signed by owner, civil engineer or architect. (original and one (1) photocopy)
- Building or Renovation Permit issued/approved by the Building Official with Locational Clearance, Electrical Permit, Sanitary/Plumbing Permit and corresponding official receipts of payments (original and one (1) photocopy)
- Pictures of existing collateral; the existing house and lot (1st – Front and one side, 2nd – Rear and other side, 3rd – Kitchen counter, and 4th – Toilet and Bath Pictures)
In the case of condominium units, here are the SSS Housing Loan requirements for application:
- Floor plan of the specific condominium unit, scaled with size dimensions (20” x 30” size, blue/whiteprint copy) signed & sealed by licensed architect or civil engineer
- First page of the condominium building plans showing the site development plan, vicinity map, etc., as approved by the Building Official
- Architectural Plans showing the plan of the specific floor where the unit is located; Floor plan should be scaled with size dimensions
