SSS Housing Loan for OFW

SSS Housing Loan for OFW

Overseas Filipino Workers (OFW) is entitled to be an SSS member and has the privilege to avail the Direct Housing Loan Facility which aims to provide socialized and low-cost housing.

This SSS housing loan for OFW can help guide you with the following procedures.

SSS defines an OFW as a private sector worker who is:

• currently deployed with a contract processed through the POEA or authenticated by the Embassy abroad 
• with employment contract awaiting renewal/deployment 
• a Filipino national but who is now a citizen or immigrant of a foreign countries but is interested in buying a housing unit for his family who is still in the country.
• a long-term resident overseas Filipinos who wish to avail of housing package either for themselves when they retire or when they visit the Philippines and/or for their extended families.

OFWs who fit under these conditions should also be a member of SSS to be able to apply for a housing loan. The OFW must meet the following requirements:

• Member should be a certified Overseas Filipino Workers 
• A voluntary OFW member of SSS
• Has at least 36 months contribution and 24 continues contribution in the period prior to the application 
• The OFW is not more than 60 years old at the time of application and must be insurable. Members who are aged 60 years at the time of application will have a maximum loan term of 5 years.
• OFW was not previously granted an SSS housing loan.
• Has not been granted a final SSS benefits.
• OFW borrower and spouse is updated in the payment of their SSS loan(s), if any

The housing loan applied for will be approved after meticulous screening and if the purpose is:

• construction of a new house or dwelling unit on a lot owned by the applicant free from lien/encumbrances 
• purchase of a lot and construction thereon of a new house or dwelling unit 
• purchase on existing residential unit which may be a house and lot, a condominium unit or a townhouse .

Upon completion of the needed documents, an OFW may file the housing loan application at the nearest SSS cluster branch or at the Housing and Business Loan Department, 5th floor, SSS Bldg., East Avenue, Diliman, Quezon City.

How OFWs can apply for SSS Housing Loan

How OFWs can apply for SSS Housing Loan

Overseas Filipino who are members of Social Security System (SSS) may apply for housing loan.
Once the OFW has checked that he or she is an eligible member of SSS, the following documents should be prepared before filing the application.

Original copy of:

• Mortgagor's Application for Housing Loan with 1×1 ID pictures of Principal Applicant and Spouse
• Certificate of Loan Eligibility (CLE) -P100 service fee 
• Certification from POEA/DOLE/OWWA/SSS Foreign Representative Office or Philippine Embassy/Consular Office 
• Deed of Sale or Contract of Sale with statement of latest balance for purchase of lot or house and lot
• Appraisal Report 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 loan filing 
• Duly notarized Special Power of Attorney (if filing is through a representative)

Original and photocopy of:

• Latest Contract of Employment and latest Employer's Certification duly authenticated by the Philippine Consulate 
• Owner's copy of the Transfer Certificate Title (TCT)/Original Certificate Title (OCT)/Condominium Certificate of Title (CCT)
• Certificate true copy of TCT/OCT/CCT issued by the Register of Deeds
• Latest Property Tax Declaration and Realty Tax Receipt 

Other documents:

• Lot plan with vicinity map duly signed and sealed by the Registered Surveyor or Geodetic Engineer (Blue Print)
• Building plans/specification/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
• Affidavit of Undertaking to continue paying monthly SSS premium contribution for the duration of housing loan 

Upon completion of the above-mentioned documents needed for SSS Housing loan application, the OFW may then proceed the nearest SSS cluster branch or at the Housing and Business Loans Department, 5th floor, SSS Bldg., East Avenue, Diliman, Quezon City for filing.