Housing Loans for Overseas Filipino Workers
By Lauren on Jan 23, 2008 in Real Estate Features
Overseas Filipino workers (OFWs) can take advantage of SSS’s Direct Housing Loan Facility that aims to provide low-cost housing for your family in the Philippines. If you’re younger than 65 years old, a certified OFW, and an active SSS member with at least 12 months continuous contributions, you may be qualified to receive a housing loan. Loanable amounts for socialized housing is Php 300,000; for low-cost housing you can get a loan from Php 500,000 to Php 1,000,000. All loans can be paid in multiples of five for a maximum of thirty years, so long as it doesn’t exceed the building’s economic life. Interests rates are 9% for Php 300,000 loans, 13% for Php 500,000 and 14% for Php 1,000,000.
For details and more information, visit the SSS website or the SSS building at East Avenue, Diliman, Quezon City.
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