Housing Loan for Repairs and/or Improvements

  1. Eligible Borrowers

    The principal applicant must have the following qualifications:

    1. The borrower must be a member of SSS who has at least 36 months contributions and 24 continuous contributions in the period prior to application.
    2. Age of member is not more than 60 years old at the time of application.
    3. Member was not previously granted a repair and/or improvement loan by the SSS or NHMFC.
    4. Member has not been granted final SSS benefits
    5. Borrower and spouse is updated in the payment of their other SSS loan(s), if any.

  2. Loan Purposes

The loan may be used to finance any of the following:
    1. Major repairs, particularly for dilapidated and structurally unsafe housing units;
    2. Improvements which shall apply to:

      1. Extension or expansion and enhancement of economic and aesthetic value of an existing housing unit. Said improvements shall be permanently attached to the house.
      2. Completion of an occupied bare house.
      3. Construction of concrete fence and steel gate.
      4. Installation of deep well and motor pump.