SSS widened its member’s benefits to suit our needs. Recently SSS has offered housing loan options to qualified members these are the Direct Housing Loan for Workers’ Organization Members, Direct Housing Loan Facility for OFWs and the House Repair/Improvement Loan, and Assumption of Mortgage.
Each type of housing loan has different eligibility requirements.
In this article I will tackle the guidelines on how to apply for a Direct Housing Loan for Workers’ Organization Members.
Workers’ Organization Members (WOMs) refer to any association of workers in the private sector duly registered with the DOLE, the Securities and Exchange Commission, or the Cooperative Development Authority. It shall include any trade union center, federation, national union, local/chapter or independent union as defined in Book V of the Labor Code. That aims to provide socialized and low-cost housing for workers who are bonafide members of duly registered and accredited workers’ organizations.
Who are qualified applicants?
- Member is a bonafide member of a registered workers’ organization in the private sector;
- Member must be a member of the SSS;
- Member has at least 36 months premium contribution and 24 continuous contributions in a period prior to application
- Member not more than 60 years old at the time of application and must be insurable. Members age 60 years at time of application will have a maximum loan term of 5 years
- Member was not previously granted an SSS housing loan
- Member has not been granted final SSS benefits
- Member and spouse is updated in the payment of their other SSS loan(s), if any
The spouse of an existing borrower may still qualify for an SSS housing loan if the loan of the existing borrower was obtained prior to the date of marriage and the loan is not delinquent.
How to Apply
The member may file the application at the nearest SSS cluster branch or at the Housing and Business Loans Department, 5/F, SSS Bldg., East Avenue, Diliman, Quezon City.
The following documents should be submitted upon filing of application:
- Original copy of the following:
- Mortgagor’s Application for Housing Loan with 1” x 1” ID pictures of Principal Applicant and Spouse
- Certificate of Loan Eligibility – (P100 Service Fee)
- Certification of Membership from the workers’ organization
- Employer’s Certification
- Latest two (2) months’ pay slip duly certified by the employer
- Deed of Sale or Contract to Sell with Statement of latest balance (for purchase of lot or house and lot)
- Confirmation of Completion and Appraisal from Home Guaranty Corporation accredited appraisal companies
- Certificate of Acceptance and Occupancy duly signed by the borrower if house is 100% complete at the time of the loan filing
- Original and Photocopy of the following:
- Latest income tax return together with Form W-2 and Confirmation Receipt of Payment
- Owner’s copy of the Original/Transfer Certificate of Title/Condominium Certificate of Title
- Latest Property Tax Declaration and latest Realty Tax Receipt
- Other documents:
- Lot Plan with Vicinity Map duly signed and sealed by a registered Surveyor or Geodetic Engineer (Blue Print)
- Building plans/specifications/picture of the house (Blue Print)
- A set of twelve (12) postdated checks covering twelve (12) monthly installments and shall be repeated every twelve (12) months thereafter until the loan is fully paid
- Tax Mapping/Subdivision Plan
- Present original and submit one (1) photocopy for authentication purposes
- Applicant and spouse (if any) must be up-to-date in all existing loan accounts with SSS subject to verification by the SSS
- SSS reserves the right to require additional documents if deemed necessary
- Application Fee – ½ of 1% of loan amount or P500 whichever is higher but not to exceed P3,000.00 to be deducted from the first loan release
- Inspection Fee – P500 for both within and outside Metro Manila
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 protected]
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