SOCIAL SECURITY SYSTEM

Presented by :
ADELA CRISTINE G. MALDIA
Towards a more sustainable housing loan program
for workers in the private sector.
 THE EXISTING HOUSING
LOAN PROGRAMS OF THE SSS
I. DIRECT
• House Repair / Improvement
• Direct Housing Loan Facility for Workers’
Organization Members & OFWs
• Assumption of Mortgage
II. THRU PFIs
• Individual Housing Loan
• Pari-Passu
• Apartment / Dormitory Loan
• Developmental Loan
• Repair/Improvement
• Corporate Housing
– Developmental loan
– Commitment Line / Individual Housing
 BASIC GUIDELINES
ELIGIBILITY
 EMPLOYERS/CORPORATE/DEVELOPER
• Must be an SSS member of good standing, i.e. current in the payment of SSS
contributions and remittance of its SSS loan amortization and that of its employees, if
any.
• Must have a record of profitability for the last three (3) years

 MEMBERS
• Active SSS member and has paid at least thirty-six (36) months contributions and twenty-
four (24) continuous contributions in period prior to application.
• Not more than sixty (60) years old at the time of application and must be insurable.
• Has not been previously granted a housing loan by the SSS, refund of contributions,
retirement or total permanent disability benefit.
• Borrower and spouse is current in the payment of their other SSS loan(s), if any.
• If employed, his employer must be up-to-date in the payment of monthly contributions and
loan remittances
• OFWs must be certified by the POEA, OWWA, Embassy or by the SSS overseas
representative offices
• Borrowers must be certified member of a workers’ organization duly accredited by DOLE

 SELF-EMPLOYED MEMBERS
• Must also meet the requirements for members and will execute an Affidavit of
Commitment to continue paying their monthly contributions
 BASIC GUIDELINES
Direct Housing Loan Programs
PURPOSES

• House Repair and/or 1. Major repairs particularly for dilapidated and

Improvement structurally unsafe housing units.

2. Improvement which shall apply to:

– Extension or expansion & enhancement
of the economic and aesthetic value of
an existing housing unit.
– Completion of an occupied bare house.
– Construction of concrete fence & steel
gate.
– Installation of deep well & motor pump.
 BASIC GUIDELINES
Direct Housing Loan Programs

PURPOSES

• Direct Housing Loan 1. Construction of a new house or dwelling unit

Facility for OFWs/ on a lot owned by the applicant free from
TUMs liens/encumbrances.

2. Purchase of a lot and construction thereon

of a new house or dwelling unit.

3. Purchase of an existing residential unit.

4. Purchase of an existing residential unit

foreclosed by GSIS, HDMF (Pag-Ibig), HGC
and other GFIs.
 BASIC GUIDELINES
Direct Housing Loan Programs
PURPOSES

• Assumption of Mortgage 1. Assume the updated principal balance of

an existing SSS housing loan.
 BASIC GUIDELINES
Thru Participating Financial Institutions

PURPOSES

• Individual Housing 1. Same purposes under the Direct

Loan Housing Loan for OFWs and TUMs.

• Pari-Passu 1. Purchase of a newly completed house and

lot, a row house or a condominium unit
2. Construction of a house on a lot already
owned by the borrower
3. Construction of a house on a lot with
outstanding balance
 BASIC GUIDELINES
Thru Participating Financial Institutions
PURPOSES

• Apartment/ 1. Construction of dormitories, boarding &

Dormitory lodging houses, apartments or other
residential buildings intended to be rented
out.
• Developmental Loan 1. Land development

2. House construction within the project site

including access road.

3. Working capital to the extent of 20% of the

project cost.

• House Repair and/or 1. Same purposes under the Direct House

Improvement Repair and/or Improvement
 BASIC GUIDELINES
Thru Participating Financial Institutions
PURPOSES

• Corporate Housing
– Developmental 1. Land development and house construction
within the project site including the access
road.

– Commitment Line/ 1. Granted to an employer who plans to

Individual Housing undertake an employee housing program
under the terms and conditions of the
existing SSS individual housing loan
program.
LOAN AMOUNTS & INTEREST RATES
 LOAN AMOUNTS & INTEREST RATES

* Interest rates shall be reviewable every six (6) months

 BASIC GUIDELINES
AMOUNT OF LOAN

 Amount applied for

 Amount justified by the applicant’s paying capacity
 Actual need as determined by the SSS
 At least 70% but not to exceed 90% of the appraised
value of the collateral
 BASIC GUIDELINES
INSURANCE
 MRI
 Property/Fire Insurance
 HGC, in the case of borrowers under the OFW/TUM Direct
Financing Facility

COLLATERAL
 First Real Estate Mortgage
 Transfer Certificate of Title is in the name of borrower free from liens
and encumbrances
 In case the purpose of loan is the purchase of residential
condominium unit prior to actual construction (pre-selling), other
residential property acceptable to SSS shall be submitted as
collateral to secure the loan.
 BASIC GUIDELINES
LOAN REPAYMENTS
–Equal monthly amortizations
–Graduated Amortization Plan

MANNER OF PAYMENTS
–Salary deduction for employed members (except for RI)
–Post Dated Checks for OFWs/TUMs, voluntary and self-
employed members
 BASIC GUIDELINES
DELAYED PAYMENTS

• Penalty of 1 1/2% per month

DEFAULT

• Failure to pay six (6) monthly amortizations (not

necessarily consecutive) within a period of one (1)
year
• Failure to pay the loan arrears prior to resumption of
payment or regular monthly amortization regardless
of number of months in default in the payment of
monthly loan amortization
NET DISPOSABLE INCOME & MONTHLY
FIXED AMORTIZATION AT 8%
LOANABLE YEARS
AMOUNT 30 25 20 15 10 5
Amortization
136.28349413 129.56452260 119.55429170 104.64059216 82.42148089 49.31843334
Factor
P400,000.00
NDI 7,337.65 7,718.16 8,364.40 9,556.52 12,132.76 20,276.39
FA 2,935.06 3,087.26 3,345.76 3,822.61 4,853.10 8,110.56
P350,000.00
NDI 6,420.44 6,753.39 7,318.85 8,361.96 10,616.16 17,741.85
FA 2,568.18 2,701.36 2,927.54 3,344.78 4,246.47 7,096.74
P300,000.00
NDI 5,503.23 5,788.62 6,273.30 7,167.39 9,099.57 15,207.30
FA 2,201.29 2,315.45 2,509.32 2,866.96 3,639.83 6,082.92
P250,000.00
NDI 4,586.03 4,823.85 5,227.75 5,972.83 7,582.97 12,672.75
FA 1,834.41 1,929.54 2,091.10 2,389.13 3,033.19 5,069.10
P200,000.00
NDI 3,668.82 3,859.08 4,182.20 4,778.26 6,066.38 10,138.20
FA 1,467.53 1,543.63 1,672.88 1,911.30 2,426.55 4,055.28
P150,000.00
NDI 2,751.62 2,894.31 3,136.65 3,583.70 4,549.78 7,603.65
FA 1,100.65 1,157.72 1,254.66 1,433.48 1,819.91 3,041.46
P100,000.00
NDI 1,834.41 1,929.54 2,091.10 2,389.13 3,033.19 5,069.10
FA 733.76 771.82 836.44 955.65 1,213.28 2,027.64
NET DISPOSABLE INCOME & MONTHLY
FIXED AMORTIZATION AT 9%
LOANABLE YEARS
AMOUNT 30 25 20 15 10 5
Amortization
124.28186568 119.16162216 111.14495403 98.59340884 78.94169267 48.17337352
Factor
P1,000,000.00
NDI 20,115.57 20,979.91 22,493.15 25,356.66 31,668.94 51,895.89
FA 8,046.23 8,391.96 8,997.26 10,142.67 12,667.58 20,758.36
P950,000.00
NDI 19,109.79 19,930.91 21,368.49 24,088.83 30,085.50 49,301.09
FA 7,643.91 7,972.37 8,547.40 9,635.53 12,034.20 19,720.44
P900,000.00
NDI 18,104.01 18,881.92 20,243.83 22,821.00 28,502.05 46,706.30
FA 7,241.60 7,552.77 8,097.53 9,128.40 11,400.82 18,682.52
P850,000.00
NDI 17,098.23 17,832.92 19,119.18 21,553.16 26,918.60 44,111.50
FA 6,839.29 7,133.17 7,647.67 8,621.27 10,767.44 17,644.60
P800,000.00
NDI 16,092.45 16,783.93 17,994.52 20,285.33 25,335.15 41,516.71
FA 6,436.98 6,713.57 7,197.81 8,114.13 10,134.06 16,606.68
P750,000.00
NDI 15,086.67 15,734.93 16,869.86 19,017.50 23,751.71 38,921.92
FA 6,034.67 6,293.97 6,747.94 7,607.00 9,500.68 15,568.77
P700,000.00
NDI 14,080.90 14,685.94 15,745.20 17,749.67 22,168.26 36,327.12
FA 5,632.36 5,874.37 6,298.08 7,099.87 8,867.30 14,530.85
P650,000.00
NDI 13,075.12 13,636.94 14,620.55 16,481.83 20,584.81 33,732.33
FA 5,230.05 5,454.78 5,848.22 6,592.73 8,233.93 13,492.93
P600,000.00
NDI 12,069.34 12,587.95 13,495.89 15,214.00 19,001.37 31,137.53
FA 4,827.74 5,035.18 5,398.36 6,085.60 7,600.55 12,455.01
P550,000.00
NDI 11,063.56 11,538.95 12,371.23 13,946.17 17,417.92 28,542.74
FA 4,425.42 4,615.58 4,948.49 5,578.47 6,967.17 11,417.10
P500,000.00
NDI 10,057.78 10,489.95 11,246.57 12,678.33 15,834.47 25,947.94
FA 4,023.11 4,195.98 4,498.63 5,071.33 6,333.79 10,379.18
P450,000.00
NDI 9,052.00 9,440.96 10,121.92 11,410.50 14,251.02 23,353.15
FA 3,620.80 3,776.38 4,048.77 4,564.20 5,700.41 9,341.26
NET DISPOSABLE INCOME & MONTHLY
FIXED AMORTIZATION AT 10%
LOANABLE YEARS
AMOUNT 30 25 20 15 10 5
Amortization
113.95081998 110.04723006 103.62461869 93.05743882 75.67116337 47.06536902
Factor
P1,500,000.00
NDI 32,908.93 34,076.28 36,188.31 40,297.69 49,556.53 79,676.42
MFA 13,163.57 13,630.51 14,475.32 16,119.08 19,822.61 31,870.57
P1,450,000.00
NDI 31,811.97 32,940.40 34,982.03 38,954.44 47,904.64 77,020.54
MFA 12,724.79 13,176.16 13,992.81 15,581.77 19,161.86 30,808.21
P1,400,000.00
NDI 30,715.00 31,804.53 33,775.76 37,611.18 46,252.76 74,364.66
MFA 12,286.00 12,721.81 13,510.30 15,044.47 18,501.10 29,745.86
P1,350,000.00
NDI 29,618.04 30,668.65 32,569.48 36,267.92 44,600.87 71,708.78
MFA 11,847.22 12,267.46 13,027.79 14,507.17 17,840.35 28,683.51
P1,300,000.00
NDI 28,521.08 29,532.77 31,363.20 34,924.67 42,948.99 69,052.90
MFA 11,408.43 11,813.11 12,545.28 13,969.87 17,179.60 27,621.16
P1,250,000.00
NDI 27,424.11 28,396.90 30,156.93 33,581.41 41,297.11 66,397.01
MFA 10,969.64 11,358.76 12,062.77 13,432.56 16,518.84 26,558.81
P1,200,000.00
NDI 26,327.15 27,261.02 28,950.65 32,238.15 39,645.22 63,741.13
MFA 10,530.86 10,904.41 11,580.26 12,895.26 15,858.09 25,496.45
P1,150,000.00
NDI 25,230.18 26,125.15 27,744.37 30,894.90 37,993.34 61,085.25
MFA 10,092.07 10,450.06 11,097.75 12,357.96 15,197.33 24,434.10
P1,100,000.00
NDI 24,133.22 24,989.27 26,538.10 29,551.64 36,341.45 58,429.37
MFA 9,653.29 9,995.71 10,615.24 11,820.66 14,536.58 23,371.75
P1,050,000.00
NDI 23,036.25 23,853.39 25,331.82 28,208.38 34,689.57 55,773.49
MFA 9,214.50 9,541.36 10,132.73 11,283.35 13,875.83 22,309.40
NET DISPOSABLE INCOME & MONTHLY
FIXED AMORTIZATION AT 11%
LOANABLE YEARS
AMOUNT 30 25 20 15 10 5
Amortization
105.00634602 102.02904375 96.88153901 87.98193710 72.59527536 45.99303383
Factor
P2,000,000.00
NDI 47,616.17 49,005.65 51,609.42 56,829.85 68,875.01 108,712.12
MFA 19,046.47 19,602.26 20,643.77 22,731.94 27,550.00 43,484.85
P1,950,000.00
NDI 46,425.77 47,780.51 50,319.18 55,409.10 67,153.13 105,994.31
MFA 18,570.31 19,112.20 20,127.67 22,163.64 26,861.25 42,397.72
P1,900,000.00
NDI 45,235.36 46,555.37 49,028.95 53,988.35 65,431.26 103,276.51
MFA 18,094.14 18,622.15 19,611.58 21,595.34 26,172.50 41,310.60
P1,850,000.00
NDI 44,044.96 45,330.23 47,738.71 52,567.61 63,709.38 100,558.71
MFA 17,617.98 18,132.09 19,095.49 21,027.04 25,483.75 40,223.48
P1,800,000.00
NDI 42,854.55 44,105.09 46,448.48 51,146.86 61,987.51 97,840.90
MFA 17,141.82 17,642.04 18,579.39 20,458.74 24,795.00 39,136.36
P1,750,000.00
NDI 41,664.15 42,879.95 45,158.24 49,726.12 60,265.63 95,123.10
MFA 16,665.66 17,151.98 18,063.30 19,890.45 24,106.25 38,049.24
P1,700,000.00
NDI 40,473.74 41,654.81 43,868.01 48,305.37 58,543.75 92,405.30
MFA 16,189.50 16,661.92 17,547.20 19,322.15 23,417.50 36,962.12
P1,650,000.00
NDI 39,283.34 40,429.66 42,577.77 46,884.62 56,821.88 89,687.50
MFA 15,713.34 16,171.87 17,031.11 18,753.85 22,728.75 35,875.00
P1,600,000.00
NDI 38,092.94 39,204.52 41,287.54 45,463.88 55,100.00 86,969.69
MFA 15,237.17 15,681.81 16,515.01 18,185.55 22,040.00 34,787.88
P1,550,000.00
NDI 36,902.53 37,979.38 39,997.30 44,043.13 53,378.13 84,251.89
MFA 14,761.01 15,191.75 15,998.92 17,617.25 21,351.25 33,700.76
 ACCREDITED PFIs

• Philippine Veterans Bank

101 V.A. Rufino St., Legaspi Village, Makati City
Contact No. : 818-4219 / 902-1629

• Planters Development Bank

314 Buendia Ave., Makati City
Contact No. : 884-7600 loc. 5108, 5111
 SSS: Towards Better
Shelter for the Filipinos
in the 21st Century

Thank you