|OVERVIEW||ELIGIBILITY REQUIREMENTS||HOW TO APPLY||LOAN DETAILS|
The maximum loanable amount is P2,000,000.00. The loan amount granted shall be the lowest amount based on the following factors:
Housing Loan Type Amount of Loan Socialized Housing Loan
Up to P450,000.00
Low-cost Housing Loan
- Over P450,000 up to P1,000,000
- Over P1,000,000 up to 1,500,000
- Over P1,500,000 up to P2,000,000
A maximum of three (3) qualified SSS members may be tacked-in for a single loan up to the combined maximum individual availment for the loanable amount secured by the same collateral, provided they are related within the first (1st ) civil degree of consanguinity or affinity.
The loan is payable in multiples of five (5) years up to a maximum of fifteen (15) years.
However, the loan term shall be subject to the following:
The collateral for the loan is the Transfer Certificate Title/Original Certificate of Title/ Condominium Certificate of Title (TCT/OCT/CCT) issued by the Registry of Deeds in the name of the principal borrower free from liens and encumbrances.
The loan shall be secured by a first Real Estate Mortgage (REM) on the house and lot to be financed. The REM shall be annotated on the member borrowers TCT/OCT/CCT and shall be registered with the appropriate Registry of Deeds. The loan shall also be covered by an HGC guaranty.
In case the purpose of the loan is the purchase of residential condominium unit prior to actual construction (pre-selling), other residential property acceptable to SSS shall be submitted as collateral to secure the loan.
The following are not acceptable as collateral:
The insurance premiums shall be shouldered by the borrower.
For more information, please visit the SSS Housing and Business Loans Department, 5th Floor, SSS Main Building, East Avenue, Diliman, Quezon City or you may call telephone number 920-64-01 local 5121 to 5127, or e-mail us at email@example.com