The housing loan program of the Social Security System (SSS) has been recently modified to provide a state-funded insurance and social program among the working sector. This means that other than salary, business assistance, maternity, retirement, sickness, death, or disability loans that you can apply for, you can also loan for a low-cost home loan to acquire, improve, or assume an SSS-funded house and lot.

Commercial banks and the Pag-IBIG Fund may have been offering the most common housing loans until now, but there are also SSS loan packages that are divided into four, that matches a specific purpose with a particular eligibility and application methods. Check out each category where your qualifications meet, so you won’t be having any inconvenience before you submit your loan requirements.

Worker’s Organization Members (WOM) Direct Housing Loan

Designed to offer a low-cost and socialized housing to all hardworking workers who is an active member of an accredited company, the Worker’s Organization Members (WOM) Direct Housing Loan is registered with the Securities and Exchange Commission (SEC), Department of Labor and Employment (DOLE), and the Cooperative Development Authority (CDA). Furthermore, it is recognized by Philippine’s Trade Center Union, Federation of Filipino Workers, and National Union of Filipino Workers, in line with Article V of the Labor Code.

WOM’s Direct Housing Loan can be used for the following purposes:

  • To create a housing unit by constructing a new home residence that can be owned by any qualified SSS member free from encumbrances.
  • To acquire a lot and construct a new residential house or apartment units.
  • To acquire an existing residential unit that can be owned by a qualified SSS member which may be but not limited to a townhouse, a house in a subdivision, a condominium unit, or any house and lot in any land with a title.

Overseas Filipino Workers (OFW)’s Direct Housing Loan Facility

SSS has directly supported the government’s prerogative to provide shelter for the Filipinos, the Overseas Filipino Workers (OFW)’s Direct Housing Loan Facility to offer a low-priced housing and socialized housing package to foreign-based workers.

Here are the eligibility requirements for the direct housing loan for Overseas Filipino Workers (OFW):

  • A member can be qualified once a worker is currently under a contract from the Philippine Overseas Employment Authority (POEA) and based abroad as authenticated by the respective embassy.
  • For contract workers with pending renewal and abroad deployment, the loan will be released once the renewal and deployment for overseas employment.
  • Filipino-born workers who are current immigrants or already a citizen of a respective country who are interested to acquire a residential unit for their Filipino-based family can be qualified for this loan package.
  • Filipino residents who have been working continuously overseas for ten years or longer can avail of this SSS housing loan once they come back to the Philippines, during their retirement, or for their indicated immediate or extended relatives.

Required original and photocopy of documents should be submitted upon the first application by a SSS member or their respective representative on the nearest SSS satellite office. Also, you can submit it at the Department of Housing & Business Loans (fifth floor) in the main building of SSS located in East Avenue, Quezon City.

See also: SSS Branches Abroad: International SSS Offices and Contact Numbers

Basic documents that need to be submitted are the following:

  • Duly filled and signed application of mortgagor with 1 x 1 picture of the applicant (and the spouse, if married).
  • Loan Eligibility Certification
  • Membership Certification from your respective worker’s group
  • Certification of Employment
  • Two months latest income or payslip with the employer’s certification
  • POEA/OWWA/DOLE or any SSS-related foreign officer Certification for OFWs
  • Most recent Income Tax Return (ITR)

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Home Repairs & Improvement Housing Loan

Created as the official lending program of the SSS, the Home Repairs & Improvement Housing Loan is perfect for members who are applying directly from their worker’s agency or via a partner financial institution.

To apply for one, you have to personally visit the main office of SSS or its branches nationwide and submit the required documents.

Here is the quick list of the accredited financial organizations:

  • Land Bank of the Philippines
  • Philippine Veterans Bank
  • Planters Development Bank
  • Valiant Rural Bank (Iloilo)

The financial loan from SSS covers the following repairs and improvement:

  • Primary home repairs, which includes unsafe residential units with dilapidated physical parts
  • Expansion and extension with necessary enhancements to add both aesthetic and economic value for a current residential unit which will now be a permanent part of the house once done.
  • Completion and redesigning of a bare residential unit on any location
  • Building a concrete steel or aluminum fence and gate
  • Deep-well and/or motor pump installation

The specifications for the labor and materials required must be sealed and signed by a licensed architect or a civil engineer with the potential owners for loans above Php100,000. If your loan is lower than Php100,000, these are no longer required. It also includes two furnished copies complete building plan approved by the official of the building.

For condominiums or multi-housing units, the floor plan per unit must be presented with an architectural plan displaying the layout and where the unit is situated. It must include the size dimensions and scaled measurements approved and sealed by the officiating architect or engineer.

SSS Mortgage assumption

Allowing any qualified SSS member to assume any active housing loan from SSS’s remaining principal balance, the Mortgage Assumption program are exclusive for those who don’t have a bad credit standing with any accredited lending institution. To qualify, any application must secure the latest original and photocopy of the Income Tax Return (ITR).

In addition, the approval of your application will be based on your current status in your employment. You have to submit the original and photocopy of your certificate of employment, proof of premium contribution, and compensation certification signed by the Human Resources Compensation and Benefits officer.

For OFWs who wish to apply for this package, they must submit a contract of employment and certification of overseas employment from the Philippine Consulate. The affidavit of request for premium contribution must be submitted by a self-employed or voluntary member to qualify for this program.

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