Guide on How Much Will Be Deducted for SSS Housing Loan Fees
SSS HOUSING LOAN FEES – Here is a guide on how much will be deducted from the loan proceeds under the said offer of the Social Security System (SSS).
One of the government institutions that you can turn to in the face of getting your house repaired is the Social Security System (SSS). It has a loan offer to its members that is really intended for home improvement or renovation.
Like in other loan offers, there is a list of eligibility qualifications. For a member to be eligible to apply for this offer, he or she must:
- have posted at least thirty-six (36) monthly contributions and twenty-four (24) continuous monthly contributions in the period before the application
- be not more than 60 years old at the time that the application was made
- have not availed a previous housing loan
- have not been granted an SSS final benefit
- be updated in the payment to SSS together with spouse
The SSS Housing Loan is open for major house repairs most especially for unsafe housing units. You may apply for it to:
- expand your house
- complete an occupied bare house
- construct a concrete fence and steel gate
- install a deep well and motor pump
Do you want to know how much you can borrow under this loan offer? You may visit – SSS HOUSING LOAN – How Much You Can Borrow For House Repair.
You might also like to know the SSS Housing Loan fees. These charges will be deducted from your SSS loan proceeds:
- Processing Fee – 1/2 of 1% of the loan amount or Php 500.00, whichever is higher but not more than Php 3,000.00
- Inspection Fee – Php 500.00
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: SSS LOANS – 3 SSS Loan Offers For Members & How To Apply For Them