Every loan has its purpose, with the Philippines Social Security System, however, there are 4 listed basic purposes for the SSS OFW housing loan. If you are an overseas Filipino worker and is looking to avail of the said program, you should know all about it.
Below are the 4 purposes with which you can use in your SSS housing loan application if you are an OFW. My upcoming posts about this matter will include the standard basic loan that any member may avail of. subscribe to my feeds below to get updates.
- 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 of an existing residential unit which may be a house and lot, a condominium unit or a townhouse; and
- Purchase of an existing residential unit foreclosed by SSS, GSIS, HDMF (Pag-Ibig), HGC and other GFIs.
Find out more about OFW housing loan at sss.gov.ph – official website of the SSS.