Direct Housing Loan Facility for OFWs

  1. Loanable Amount

    The maximum loanable amount is P2,000,000.00. The loan amount granted shall be the lowest amount based on the following factors:

    1. Appraised value of collateral of at least 70% but not to exceed 90%
    2. Borrower's capacity to pay
    3. Actual need of the borrower based on the contract to sell/scope of work and bill of materials evaluated by the SSS
      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.

  2. Term of the Loan

    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:

    1. The principal borrower's age shall not exceed 65 years old at the time of loan maturity; and
    2. The loan term shall not exceed the economic life of the building as determined by the SSS appraiser.

  3. Interest Rate

    1. Up to P450,000.00 - 8% p.a.
    2. Over P450,000.00 up to P1,000,000.00 - 9% p.a.
    3. Over P1,000,000.00 up to P1,500,000.00 - 10% p.a.
    4. Over P1,500,000.00 up to P2,000,000.00 - 11% p.a.

  4. Allowable Collateral/s

    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:

    1. Land type other than residential
    2. Less than 15 sq. meters floor area, in case of condominium units
    3. Less than 32 sq. meters lot area
    4. Road right of way is less than 1.5 meters
    5. Free/Homestead/Miscellaneous Sales Patent Titles

  5. Insurance Coverage

    1. Mortgage Redemption Insurance
    2. Fire Insurance
    3. Home Guaranty Corporation Coverage

    The insurance premiums shall be shouldered by the borrower.

  6. Manners of Payment

    1. List of Overseas Payment Centers (For OFWs)

      1. PNB electronic overseas bills payment
      2. i-Remit online branches
      3. Ventaja online outlets
      4. WDS-Lucky Money online branches
      5. Metrobank online branches & subsidiaries
      6. BDO Remit Services
      7. RCBC Telepay Service
      8. BOC Remittance tie-ups
      9. AUB Ginto Hatid Express
      10. Bancnet online payments (
      11. Branches or remittance tie-ups of accredited collecting banks
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